Deep Identity - Comprehensive Analysis Report

Summary

Deep Identity, established in 2009, operates as a boutique system integrator specializing in tailored identity governance & administration (IGA) and identity access management (IAM) solutions. The company also offers next-generation Knowledge & Collaboration platforms. Deep Identity is a Temasek Management Services company, making it part of the broader Temasek ecosystem. It serves a diverse clientele that includes government agencies, as well as local and multinational enterprises across the Asia-Pacific (APAC) region. The company's significance in the industry stems from its focus on addressing critical cybersecurity, compliance management, and data governance needs through innovative and adaptable identity management solutions.

1. Strategic Focus & Objectives

Core Objectives

Deep Identity's core objectives revolve around empowering organizations to effectively manage user identities and access rights, streamlining identity management processes, reducing the risk of data breaches, and safeguarding sensitive information. The company also aims to increase productivity and empower the workforce through its Knowledge & Collaboration platforms.

Specialization Areas

Deep Identity specializes in providing comprehensive and unique solutions for cybersecurity, identity governance and administration (IGA), compliance management, and data governance. Its unique value proposition includes an "innovative and adaptive layered approach" to security that aims to secure customers across APAC and automate compliance management in a cost-effective manner.

Target Markets

Deep Identity targets government agencies, as well as local and multinational enterprises across the Asia-Pacific (APAC) region. The company has a strong track record in delivering and implementing complex enterprise solutions for these clients.

2. Financial Overview

Funding History

Deep Identity has raised a total of $470K over one seed funding round.

Seed Round:

Date: November 20, 2014

Amount: $470K (S$589,000)

Key Investors: Get2Volume and National Research Foundation.

Fund Utilization: The funding was secured to scale its identity audit and compliance management solution and expand services into the cloud and establish a presence in Europe.

Impact on Company Growth: The funding enabled Deep Identity to deploy its Identity Audit and Compliance Manager and Identity Manager solutions across Southeast Asia.

Deep Identity was acquired by Trusted Source in November 2015 for an undisclosed sum, with the National Research Foundation exiting its investment. Trusted Source is a subsidiary of Temasek Management Services.
As of March 31, 2023, the annual revenue for DEEP IDENTITY PTE. LTD. (Singapore) was $4.08M SGD. For Deep Identity India Private Limited, the revenue was $539K as on March 31, 2022, and ₹3.37Cr for the financial year ending on March 31, 2024.

3. Product Pipeline

Key Products/Services

Deep Identity provides a technology platform to address IGA, compliance management, and data governance requirements, offering businesses relevant reporting and analytics for improved IT security, compliance, and minimized business risk.

Audit and Compliance Manager:

Description: Uses native connectivity to gather user information by delving into endpoint systems where users and their access permissions are stored within enterprise applications and systems.

Development Stage: Actively deployed.

Target Market/Condition: Enterprises needing identity audit and compliance.

Key Features and Benefits: Offers identity audit, compliance, and management, automating compliance management for customers cost-effectively.

Identity Manager:

Description: Focuses on managing users, user profiles/roles/groups, resources, and resource groups across various applications and systems.

Development Stage: Actively deployed.

Target Market/Condition: Organizations requiring streamlined identity management processes.

Key Features and Benefits: Enhances security by centralizing and controlling identity-related activities.

Privileged Identity Manager (PIM):

Description: A solution that fortifies privileged accounts within an organization.

Target Market/Condition: Organizations needing to secure highly sensitive accounts.

Key Features and Benefits: Safeguards against security breaches and ensures continuous compliance by controlling access to critical resources.

Data Governance Manager:

Description: A solution designed to oversee and manage data assets.

Target Market/Condition: Businesses requiring comprehensive data governance and compliance.

Key Features and Benefits: Supports improved IT security, compliance, and minimized business risk through relevant reporting and analytics.

Knowledge & Collaboration Platforms:

Description: Built on an award-winning global learning solution, these platforms are designed to elevate the corporate learning experience and accelerate business performance.

Target Market/Condition: Organizations aiming to empower employees with essential knowledge and skills for long-term success.

Key Features and Benefits: Contributes to workforce performance enablement.

4. Technology & Innovation

Technology Stack

Deep Identity differentiates itself with an innovative and adaptive "layered approach" to identity management. This methodology is designed to secure customers across APAC and automate compliance management in a cost-effective manner. The company's technology platform addresses IGA, compliance management, and data governance, providing businesses with reporting and analytics to enhance IT security, ensure compliance, and minimize business risk. Their offerings deliver a lightweight and flexible architecture with a customer-centric approach.

5. Leadership & Management

Executive Team

Koh Wee Leng:

Position: Chief Executive Officer, Growth & Innovation

Professional Background: Leads Deep Identity in providing boutique systems integration services to enterprise clients.

Key Contributions to the Company: Specializes in bespoke identity management solutions and workforce performance enablement.

Wasim:

Position: Head of Technology

Professional Background: Experienced technology lead with expertise in industry-leading identity management solutions for public and private sector clients.

Recent Leadership Changes

Deep Identity was acquired by Trusted Source in February 2023. Although details from the source indicate an acquisition in November 2015 by Tspl.com.sg, which is Trusted Source, and funded by Temasek Management Services. Following this acquisition, Sivakumar Balasubramaniam, who previously served as the Chief Executive Officer and Technology Officer, is no longer in that role. Koh Wee Leng is currently identified as the Chief Executive Officer, Growth & Innovation, and Wasim as the Head of Technology.

6. Talent and Growth Indicators

Hiring Trends and Workforce

Deep Identity is headquartered in Singapore. The company has 75 total employees. Deep Identity India Private Limited had 5 employees as of October 31, 2024. The company emphasizes building a team of trusted consultants dedicated to client success and collaboration in overcoming challenges.

7. Social Media Presence and Engagement

Digital Footprint

Deep Identity maintains a social media presence, including a LinkedIn profile. Their activities on social media focus on showcasing their expertise in identity management, cybersecurity, and compliance. They promote their solutions and partnership opportunities, sharing insights into industry trends and the importance of IGA solutions. Their LinkedIn page provides updates on their services and company developments.

8. Recognition and Awards

Industry Recognition

Deep Identity has consistently received positive feedback from customers and industry analysts for its bespoke offerings tailored to unique needs. The company's performance workspace is built on FUSE Universal, an award-winning global learning solution. Deep Identity is consistently rated positively by leading industry and technology analysts for its innovation and niche solution offering. The company also has a strong track record extending over more than a decade in delivering and implementing complex enterprise solutions for government agencies and large enterprises in Singapore and Asia. Koh Wee Leng, CEO, Growth & Innovation, was recognized as the Most Innovative Boutique Systems Integrator CEO 2023 (Singapore) in the APAC Insider's CEO of the Year Awards.

9. Competitive Analysis

Major Competitors

Deep Identity operates in the identity and access management (IAM) and identity governance and administration (IGA) market, facing competition from several key players.

Auth0: Offers a modern approach to identity, providing secure access to any application for any user. It is part of Okta, The World's Identity Company™, and integrates authentication and authorization for various applications.

SailPoint: A prominent provider of identity security solutions, competing in the IGA market.

RSA: A long-standing cybersecurity company also offering identity management and security solutions for enterprise environments.

Other notable competitors and alternatives include: Microsoft Entra ID (formerly Azure Active Directory), Rippling, JumpCloud, 1Password, Okta, CyberArk Identity, ForgeRock, and Cisco Duo.

10. Market Analysis

Market Overview

The identity security ecosystem is a significant and fundamental cybersecurity market, with Identity and Access Management (IAM) being crucial for organizations of all sizes. Identity is increasingly considered the primary security perimeter for protecting systems and data. The market is experiencing consolidation among legacy solutions and the commoditization of existing technologies, indicating potential for disruption and innovation. Workforce identity constitutes a major segment of this market. Deep Identity operates within this fast-growing area, offering boutique system integration services for IAM and IGA.

11. Strategic Partnerships

Deep Identity actively cultivates a partner network, acknowledging the transformative potential of collaboration. The company invites various categories of partners to join its program:

Solution Integrators: Collaborate to manage the implementation process for Identity Management projects, delivering tailored solutions.

Technology Partners: Provide complementary technology solutions that seamlessly integrate with Deep Identity's offerings.

Resellers: Promote Deep Identity solutions and enhance client experiences through value-added services.

Consulting Partners: Offer expertise in technology, cybersecurity, or related fields to assist clients in navigating business challenges.

Notable partners mentioned include Netrust and CTP.

12. Operational Insights

Deep Identity distinguishes itself through its "boutique system integrator" approach, providing tailored and adaptable identity management solutions. Its innovative "layered approach" for securing customers across APAC and automating compliance management is a key competitive advantage. The company's expertise in both core identity management (IGA/IAM) and next-generation Knowledge & Collaboration platforms offers a broader value proposition to clients. Its strong track record with government agencies and large enterprises underscores its capability and commitment to stringent security standards. Being a Temasek Management Services company further solidifies its market position.

13. Future Outlook

Strategic Roadmap

Deep Identity's strategic roadmap focuses on continuously enhancing organizational security and ensuring compliance through its IGA solutions. The company aims to empower organizations to seamlessly oversee user identities, conduct compliance audits, fortify privileged accounts, and oversee data assets. Deep Identity also identifies opportunities in corporate learning management systems to equip employees with essential knowledge and skills for long-term success. The company plans to leverage its integrated solutions and expertise in systems deployment to remain a preferred technology and systems integration partner in Singapore and Asia. Its partner program is designed to expand its reach and capabilities by collaborating with a diverse range of professionals and organizations who share its vision of innovation and excellence in the tech landscape.