ICON Corporate Finance advises First Ondemand on its funding round.
The company develops security, authentication and verification software and its core product, Authentisec is a security authentication platform and management system that carries the ‘DNA’ of the person, product or transaction it is securing. It effectively then encrypts this DNA / identity to defense level standards and securely authenticates it in real time over IP networks.
Authentisec helps companies reduce the costs caused by fraud and the expense of their business security operations by offering a cost effective solution for securing large volumes of documents, credit cards, transactions, passports and e-mail.
The marketing opportunity in security software spend is expected to rise from $10.5 billion to over $13.1 billion in 2012.
First Ondemand won first place in the 2008 Oracle Partner Technical Innovation Awards, a coveted achievement given there are over 20,000 Oracle partners today.