NOVATO, Calif.--(BUSINESS WIRE)--Radiant Logic, the identity unification pioneer, today announced that it has received a strategic investment from TA Associates, a leading global growth private equity firm, positioning the company for further growth. Financial terms of the transaction were not disclosed.
Whether it be in support of digital transformation, mergers or next-level partnerships, Radiant Logic is the first step in quickly and cost-effectively enabling organizations to execute initiatives that require real-time identity. The company’s industry-leading identity integration and unification platform, RadiantOne, is a dynamic technology that allows organizations to build a single source of truth for identities for today’s complex hybrid cloud environments.
“We have monitored Radiant Logic’s consistent growth rate for years, and we believe there is an exciting future for identity unification as the foundation for digital transformation,” said Nicholas Leppla, a Senior Vice President at TA. Added Ashutosh Agrawal, a Managing Director at TA, “We want to thank founder Michel Prompt for all that he’s accomplished in building Radiant Logic into a market-leading company, and we’re excited to work with the Radiant Logic team during the company’s next stage of growth.”
Since it debuted the first virtual directory in 2000, more than 270 enterprise and government customers are using RadiantOne to simplify complex unification needs across the IAM spectrum, including identity governance and synchronization to the cloud, access management and customer-facing deployments. Today’s Zero Trust architectures rely even more heavily on a single source of identity information, making identity insight the cornerstone of modern deployments.
“Radiant Logic’s significant growth over the last 18 months has suggested that the time was right for further investment in accelerating growth,” said Radiant Logic founder Michel Prompt. “We’re so proud of the technology and the team that we’ve built. The investment from TA and the firm’s go-to-market expertise will enable the RadiantOne platform to provide targeted solutions to even more enterprises and government agencies.”
Founding CEO Michel Prompt will remain with Radiant Logic in an advisory capacity. Seasoned cybersecurity executive Joe Sander will be stepping into the CEO role. Sander has successfully led three companies as CEO for investor-backed businesses. His expertise lies in leading companies that solve complex challenges through the use of innovative technology for global enterprises, and he’s passionate about delivering value for customers.
“Today marks an exciting new chapter for what has long-been a company known for its stellar technical expertise,” said Joe Sander, incoming CEO of Radiant Logic. “Radiant Logic is known for market leadership, innovative spirit and a world-class commitment to its customers. This capital infusion from TA will help accelerate Radiant Logic’s growth trajectory and expand its product offerings to meet the needs of our customers.”
A Market Leader with a Growing Customer Base
Radiant Logic’s solutions are foundational to many of the world’s most complex enterprises. The company’s customer base includes many Fortune 500 companies, seven of the ten largest U.S. healthcare providers, and many federal agencies. RadiantOne is the industry standard for identity synchronization and management tools, and the platform is well-positioned to support more companies in their shift to hybrid and cloud environments. Radiant Logic enhances mainstream identity management companies by providing the single source of truth about identities that meets rigorous security and regulatory compliance, creating the critical foundation of a Zero Trust world.
Existing Radiant Logic customers can expect the same high level of personalized support, and a number of impactful new product offerings will be announced later in the year.
“Radiant Logic has built a robust business, with strong technical acumen, over many years. We believe that they uniquely solve a major problem that is only going to get worse as large enterprises accelerate their digital programs,” says Gary Rowe, CEO and Principal Consulting Analyst at TechVision Research. “This investment from TA will allow the company to serve a broader market."
Identity Innovation to Be Showcased at Gartner IAM Summit
Radiant Logic is a platinum sponsor at the virtual Gartner Identity & Access Management Summit, which takes place from May 11-12, 2021. Rajnish Bhatia and Pankaj Khatri of Comcast Corporation will host a speaking session, “How Comcast Corporation Built a Strategic Identity Infrastructure.” The session will explore the principles they used to enable the roll-out of a new platform with IGA, federation and access management components that serves 190,000 users. The session will air on Wednesday, May 12 from 12:30pm-12:50pm ET. Conference attendees can book a meeting with one of Radiant Logic’s experts via the Gartner Exhibitors Zone.
About Radiant Logic
As a market-leading provider of federated identity systems based on virtualization, Radiant Logic delivers simple, standards-based access to all identity within an organization. The RadiantOne FID federated identity and directory service enables customizable identity views built from disparate data silos—along with scalable sync and storage—to drive critical authentication, authorization, and provisioning decisions for WAM, federation, cloud, and cloud directory deployments. Many Fortune 1000 companies rely on RadiantOne FID to deliver quick ROI by reducing administrative effort, simplifying integration and storage, and building a flexible infrastructure to meet changing business demands. For more information, visit www.radiantlogic.com
About TA Associates
TA is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – the firm invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com.