IDdriven Inc (OTCMKTS:IDDR) Hits The OTC

IDdriven Inc (OTCMKTS:IDDR) has hit the OTC with a flurry after the company changed its ticker from TXFX/D to IDDR back in March. The microcap has quickly emerged as a volume leader and price mover as IDdriven seeks to build its shareholder base and raise awareness. Being publicly traded is the next progression for IDdriven after the company's founders spent two years developing a next-generation Identity and Access Management Software solution known as IDdriven.IDdriven describes itself as being "at the forefront of the new breed of Identity Management and Access Governance solutions. Taking the complexity and upfront costs out of implementation, IDdriven is trusted to protect a company's most vulnerable assets. Founded in 2013, IDdriven is headquartered in Sacramento, California."The company was co-founded by Arend Verweij, CEO, Remy de Vries, CTO, and Geurt van Wijk, COO. IDdriven's executive team represents several decades of experience and success in the Identity and Access Management space, leading to the creation of a forward-thinking digital identity solution rooted in the understanding that businesses need a simple, scalable, and cost-effective solution to secure end user access points. The IDdriven Partner Network, which includes Oxford Computer Group, aims to bring added value and services to customers. By partnering with premier VARs and MSPs, IDdriven is able to extend its products to businesses of all sizes on a global level.According to a recent report, the IAM market is expected to reach more than $18 billion by 2019. The adoption of the cloud is the primary driver of this exponential growth, creating the need for a secure solution that can scale quickly, in on-premise environments and across cloud applications, without the additional costs of installation and unnecessary hardware. Given the mass migration to cloud applications, another recent report suggests businesses can save up to thirty-five percent on the annual cost by implementing a SaaS IAM solution.IDdriven is cloud-based, and delivered as Software as a Service. It addresses a huge $12 billion demand-driven marketplace experiencing out-sized 15 percent annual growth. IAM is a solution that helps enterprises to ensure that access across multiple technological environments is granted only to the right individuals. IDdriven is dynamic, seamless, scalable, and flexible with the widest array of features. Its plug-and-play functionality enables a new, untapped SME marketplace. It is designed to manage large volumes of users and access rights over various applications in hybrid environments (cloud and on-premise). In short, IDdriven is a superior, next-gen hybrid cloud-based solution and the new state of the art. CEO Arend Verweij said:

I, along with our COO, Geurt van Wijk and our CTO, Remy de Vries, have extensive experience in the Access Governance and Identity Management market. Our successful track record includes having worked together in similar roles at our prior company, BHOLD, to turn that company around. In 2011, we engineered the sale of it and its flagship IAM software program to Microsoft for a substantial, all-cash sum. MS supports BHOLD still today but has been unable to port it to the cloud. After selling BHOLD, we envisioned the industry would migrate to a cloud-based model and began developing IDdriven. Microsoft is a key -- and enthusiastic -- IDdriven channel partner.

Currently trading with a market cap of $20 million, IDDR is a new story on the OTC Markets. Shares in the short term have run into resistance at $.40 per share. If we can break through that level, we could see a major push higher. While the founders are most likely hoping for a repeat like they had with BHOLD, IDDR still needs to overcome some weak financials. IDDR finished 2015 with just $49k in cash, $100k in total assets, $587k in total liabilities, and just $2k in revenues for the quarter ending March, 2016 while the company lost over $1.6 million. We will be updating Insider Financial as soon as we know more. For continuing coverage on IDDR, sign up for our free newsletter today and get our next hot stock pick!Disclosure: We have no position in IDDR and have not been compensated for this article.