Ping Identity Receives $35 Million in Additional Funding Led by New Investor KKR
Funding Round to Drive Product Development and Global Market Expansion, Delivering on Company's Mission of Identity Security in the Post-Password Era
"Identity security is hot, and it is a market in the midst of a massive technology shift that will reshape the entire industry," stated
Ping Identity will use this funding to support its rapid growth, product innovation and international expansion as market demand increases for identity security solutions that address evolving consumer and enterprise security dynamics in a post-password world.
"We are pleased to be backing Ping Identity's next phase of growth given the company's strong market leadership position in the expanding next-gen identity security sector," said Herald Chen, co-head of technology at KKR. "Ping Identity's innovative product portfolio continues to match its customers' evolving needs through flexibility and ease of deployment while adopting industry standards. The company's continued entrepreneurial spirit gives us every confidence in a bright future for Ping."
"Identity management has changed as customer use cases from increasingly mobile and cloud-connected enterprises have strained legacy IAM," said
Upon closing this transaction, Herald Chen and
For KKR, the investment is part of the firm's growth equity strategy, which is focused on market-leading, high-growth companies for which KKR can be a unique partner in helping reach scale and the next level of growth. KKR is funding the investment from the balance sheet of
Background on Ping Identity:
- Ping Identity has more than 1,200 customers worldwide, including half of the Fortune 100.
- This year, the company is the only vendor named as a leader in four analyst reports: Gartner Inc.'s "2014 Magic Quadrant for Identity and Access Management as a Service (IDaaS)," Forrester Research Inc.'s "The Forrester Wave™: Identity And Access Management Suites, Q3 2013," IDC's "IDC MarketScape: Worldwide Federated Identity Management and Single Sign-On Vendor Assessment" and KuppingerCole's "Leadership Compass on Cloud User and Access Management."
- Ping Identity is headquartered in
Denverwith U.S. locations in San Franciscoand Waltham, Mass., as well as locations in Vancouver, Halifax, Londonand Melbourne.
- Ping Identity Ushers in Next Generation of Identity Security with New Solutions Bringing Businesses and Consumers into the Post-Password Era
- Leadership Triple Crown - IDaaS, Federation, IAM
- How the Connected Enterprise Will Create a
$47BIdentity Security Market: An Infographic
About Ping Identity |
Ping Identity is the pioneer and largest independent provider of next-generation identity security solutions. With more than 1,200 customers worldwide including half of the Fortune 100, Ping Identity is transforming the way hundreds of millions of people live and work every day by making their favorite apps more convenient and secure to access from any device, anywhere. Visit pingidentity.com for more information.
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