Analytics
7/16/2013
04:51 PM
Dark Reading
Dark Reading
Products and Releases
50%
50%

Ping Identity Raises $44 Million For Next-Gen Identity Management

As part of the funding, W Capital Partners also joins the Ping Identity board of directors

DENVER--Ping Identity®, The Identity Security Company&trade, today announced that it has closed a $44 million investment round led by W Capital Partners and DFJ Growth with participation from existing investors--General Catalyst Partners, Draper Fisher Jurvetson, Volition Capital, Triangle Peak Partners, SAP Ventures, and Appian Ventures, with debt provided by Silicon Valley Bank. W Capital Partners also joins the Ping Identity board of directors. The latest investment signals a rapid explosion in demand for Ping Identity's solutions, and will accelerate the completion of the company's next-generation platform for identity security.

"90 percent of IT industry growth will be driven by [technologies] that, today, represent just 22% of ICT [information and communications technology] spending. For a $4.6B IAM market projected to grow $1.5B in the next 3 years, much is at stake."

"Over the past five years, Identity has emerged as the cornerstone of security, convenience and control in a world dominated by mobility, federated business and dissolving borders," said Andre Durand, CEO of Ping Identity. "We're reimagining everything as we redefine how identity management can scale to Internet and cloud proportions, serving billions of users, devices, and services over the course of the next decade."

IDC predicts that by 2020, "90 percent of IT industry growth will be driven by [technologies] that, today, represent just 22% of ICT [information and communications technology] spending. For a $4.6B IAM market projected to grow $1.5B in the next 3 years, much is at stake."*

"Ping Identity's vision for an identity centric future has positioned it as a leader in the identity security space for a decade," said Blake Heston, Principal of W Capital Partners. "The technological superiority of the Company's product suite is validated by its rapidly growing customer base and extraordinary retention rates in solving the most difficult identity management challenges for some of the largest corporations worldwide. We're thrilled to join Ping's management team and existing investors in the next phase of the Company's growth."

Since its founding, Ping Identity has remained committed to delivering identity security solutions with uncompromising quality and simplicity. This latest investment validates its significant market momentum. Because of its continued product excellence, more than 1,000 organizations, including half of the Fortune 100, and more than 300 SaaS vendors rely on Ping Identity's products to make the digital world a better experience for hundreds of millions of people.

"The significance of this capital raise fortifies our ability to innovate and bring to market solutions that customers rely on to power their business. The participation of our existing shareholder base speaks loudly to their continued enthusiasm in the pace of our progress and the market opportunity that lies ahead for us," said Michael Sullivan, CFO of Ping Identity.

Shea & Company, LLC acted as a financial advisor to Ping Identity in connection with the investment round.

About Ping Identity | The Identity Security Company

Ping Identity believes secure professional and personal identities underlie human progress in a connected world. Our identity and access management platform gives enterprise customers and employees one-click access to any application from any device. Over 1,000 companies, including half of the Fortune 100, rely on our award-winning products to make the digital world a better experience for hundreds of millions of people. Visit pingidentity.com for more information.

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win a Starbucks Card! Click Here
Latest Comment: just wondering...Thanx
Current Issue
Security Operations and IT Operations: Finding the Path to Collaboration
A wide gulf has emerged between SOC and NOC teams that's keeping both of them from assuring the confidentiality, integrity, and availability of IT systems. Here's how experts think it should be bridged.
Flash Poll
New Best Practices for Secure App Development
New Best Practices for Secure App Development
The transition from DevOps to SecDevOps is combining with the move toward cloud computing to create new challenges - and new opportunities - for the information security team. Download this report, to learn about the new best practices for secure application development.
Slideshows
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2017-0290
Published: 2017-05-09
NScript in mpengine in Microsoft Malware Protection Engine with Engine Version before 1.1.13704.0, as used in Windows Defender and other products, allows remote attackers to execute arbitrary code or cause a denial of service (type confusion and application crash) via crafted JavaScript code within ...

CVE-2016-10369
Published: 2017-05-08
unixsocket.c in lxterminal through 0.3.0 insecurely uses /tmp for a socket file, allowing a local user to cause a denial of service (preventing terminal launch), or possibly have other impact (bypassing terminal access control).

CVE-2016-8202
Published: 2017-05-08
A privilege escalation vulnerability in Brocade Fibre Channel SAN products running Brocade Fabric OS (FOS) releases earlier than v7.4.1d and v8.0.1b could allow an authenticated attacker to elevate the privileges of user accounts accessing the system via command line interface. With affected version...

CVE-2016-8209
Published: 2017-05-08
Improper checks for unusual or exceptional conditions in Brocade NetIron 05.8.00 and later releases up to and including 06.1.00, when the Management Module is continuously scanned on port 22, may allow attackers to cause a denial of service (crash and reload) of the management module.

CVE-2017-0890
Published: 2017-05-08
Nextcloud Server before 11.0.3 is vulnerable to an inadequate escaping leading to a XSS vulnerability in the search module. To be exploitable a user has to write or paste malicious content into the search dialogue.

Dark Reading Radio
Archived Dark Reading Radio
In past years, security researchers have discovered ways to hack cars, medical devices, automated teller machines, and many other targets. Dark Reading Executive Editor Kelly Jackson Higgins hosts researcher Samy Kamkar and Levi Gundert, vice president of threat intelligence at Recorded Future, to discuss some of 2016's most unusual and creative hacks by white hats, and what these new vulnerabilities might mean for the coming year.