By: Matt Rego
Shares of IDdriven, Inc. (OTCQB: IDDR) have jumped 22.50% in the first several hours of trading on June 8, 2016. The enterprise software company has seen average daily volume of 88,344 over the past month. However, today’s big rally has seen 615,585 shares exchange hands or around $208,500 in dollar volume. No specific news out that would explain the rally, but with over 100 trades contributing 615,585 share volume, the rally is no joke.
IDdriven is an enterprise software company that has developed and is now launching the next generation in Identity and Access Management (“IAM”) enterprise solutions into a demand driven market.
IAM helps end-users to ensure that access across multiple technological environments is granted only to the right individuals. The Company’s flagship product — IDdriven — is designed to manage large volumes of users and access rights over various applications in hybrid environments (cloud and on-premise).
The Company’s flagship product — IDdriven — is a superior, next-gen hybrid cloud-based solution and the new state of the art software delivered as a service (Software as a Service or “SaaS”). It is dynamic, seamless, scalable, and flexible with the widest array of features. Its plug & play functionality enables a new, untapped SME marketplace.
Industry analysts project the highly fragmented, demand-driven IAM market will double from $9.16 billion in 2014 to $18.30 billion in 2019, a 14.85% CAGR. IAM solutions provide secure, identity-based access to various systems, applications, and information from any device or location. IAM solutions are being widely adopted by large and medium-scale enterprises as well as government departments.
The Company is led by a senior management team with extensive experience in the Access governance and Identity Management market. Its successful track record includes having worked together at its prior company, BHOLD, to turn that company around. In 2011, they engineered the sale of it and its flagship IAM software program to Microsoft for a substantial, all-cash sum. MS supports that program still today but has been unable to port it to the cloud. Microsoft is a key — and enthusiastic — channel partner for IDdriven.
IDdriven is the prominent yet fragmented SaaS sub-category of Identity Management as a Service (IDaaS). IDdriven is a “software as a service” (“SaaS”). Two years in development, considering sweat equity, cash and cost saving methods, over $3.8 million of time and capital has been expended developing IDdriven to date.