Ping Identity

Type	Private
Industry	Identity Security/Identity Access Management (IAM) software & services
Founded	2002; 24 years ago (2002)
Founders	Andre Durand Bryan Field-Elliot
Headquarters	Denver, CO , United States
Number of locations	11
Key people	Andre Durand (CEO)
Products	Single Sign-On (SSO) Multi-factor authentication (MFA) Unified directory services Access security management API threat protection Information and data governance
Revenue	US$299 million (2021)
Operating income	US$−79 million (2021)
Net income	US$−64 million (2021)
Total assets	US$1.18 billion (2021)
Total equity	US$741 million (2021)
Owner	Thoma Bravo
Number of employees	2,311 (2026)
Website	pingidentity.com
Footnotes [1]

Ping Identity Corporation is an American intelligent identity and access management (IAM) company that develops federated identity management, secure access, authentication technology, and continuous identity assurance for enterprise organizations.^[2]

Founded in 2002 by Andre Durand and Bryan Field-Elliot, the company's platform covers workforce, customer, partner, edge computing, and AI use cases.

After Thoma Bravo acquired Ping Identity in 2022 and ForgeRock in 2023, ForgeRock was integrated into Ping Identity. Ping Identity is headquartered in Denver, Colorado and operates globally, with offices in North America, Europe, and the Asia-Pacific region .^[3][4]

History

Ping Identity Corporation was founded in 2002 by Andre Durand and Bryan Field-Elliot, in Denver, Colorado.^[5][6] The company develops intelligent identity and access management (IAM) platforms, specializing in identity federation management, self-hosted identity access management, and single sign-on (SSO) solutions for workforce, customer, and partner, and AI-related use cases.^[7][8][9][6] In the IAM sector, Ping Identity competes against vendors that include Microsoft, Okta, CyberArk, IBM, SailPoint, and Cisco.^[10][9]

Ping Identity has received a number of rounds of funding, beginning with a Series A on April 16, 2004.^[11] Since then, it has received $35 million from Kohlberg Kravis Roberts on September 18, 2014,^[12] $44 million from DFJ Growth and W Capital Partners on July 16, 2013,^[13] as well as $21 million from Silicon Valley Bank, Triangle Peak Partners on June 21, 2011,^[14] and $13 million from Appian Ventures.^[15]

Vista Equity Partners, a private equity firm based in Austin, Texas, acquired majority ownership of Ping Identity in a leveraged buyout for $600 million on June 1, 2016.^[16] At the time of the sale, Ping Identity had already taken $125 million in funding.^[17]

In September 2019, Vista Equity Partners took the company public rather than selling it.^[18] Goldman Sachs led Ping Identity's initial public offering (IPO).^[19]

Ping Identity Holding Corp was initially listed on the New York Stock Exchange with 12,500,000 shares of common stock at $15.00 per share.^[20] The value of the stock rose $5 in its first day and jumped to a 30% increase in the market debut.^[21] This was the first organization that Vista Holdings took public.^[22] Vista retained 80 percent ownership of the company.^[23]

In 2021, Ping Identity released its PingOne Cloud Platform and Dynamic Authorization offering.^[24]

In August 2022, Thoma Bravo agreed to buy Ping Identity for $2.8 billion in an all-cash transaction.^[25] The acquisition was completed in October 2022.^[26]

On completion of Thoma Bravo's acquisition of ForgeRock in August 2023, the private equity firm announced that ForgeRock would be integrated into Ping Identity.^[27]

Products

Ping Identity is a software company that specializes in identity management solutions, providing a suite of products including PingID for multifactor authentication, PingFederate for single sign-on capabilities, PingOne for cloud identity, PingAccess for access management, PingDirectory for identity storage, PingAuthorize for policy-based access control, and PingIntelligence for AI-powered cyber threat detection. Together with solutions from Okta, Microsoft, Salesforce, and Google, these constitute the "identity meta system" as defined in "Design Rationale behind the Identity Metasystem Architecture," which refers to an interoperable architecture for digital identity.^[28]

References

External links

• Official website
• • Historical business data for Ping Identity:
  • SEC filings