Description
Ping Identity Corporation is an American software company established in 2002 by Andre Durand and Bryan Field-Elliot. It is headquartered in Denver, Colorado, United States with development offices in Vancouver, British Columbia, Tel Aviv, Israel, Austin, Texas, Denver, Colorado, and Boston, Massachusetts. Ping also has European operations with offices in London, Paris, and Switzerland as well as offices in Bangalore, Melbourne, and Tokyo, serving Asia-pacific.
The company's software provides federated identity management and self-hosted identity access management to web identities via attribute based access controls, similar to identity management system tools developed by Microsoft and Okta. This Single sign-on (SSO) gives users a single set of credentials to access applications (web applications, apps on mobile devices, VPN, etc) that have company data. This is primarily done with identity providers such as Ping, Okta, and Microsoft Azure by leveraging open standards such as SAML and OAuth.
Ping Identity products include PingID, PingFederate, PingOne, PingAccess, PingDirectory, PingDataGovernance, and PingIntelligence. Along with Okta, Microsoft, Salesforce, Google these comprise the "identity meta system" as defined in "Design Rationale behind the Identity Metasystem Architecture".
History
Ping Identity Corporation is a software company established in 2002 by Andre Durand and Bryan Field-Elliot, in Denver, Colorado. Ping Identity provides federated identity management and self-hosted identity access management (IAM) solutions to web identities and single sign-on solutions, being one of a number of organizations competing to provide standards to replace passwords for authenticating to web applications.
Ping Identity has received a number of rounds of funding, beginning with a Series A on April 16, 2004, Since then, it has received $35 million from Kohlberg Kravis Roberts on September 18, 2014, $44 million from DFJ Growth and W Capital Partners on July 16, 2013, as well as $21 million from Silicon Valley Bank, Triangle Peak Partners on June 21, 2011, and $13 million from Appian Ventures.
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. At the time of the sale, Ping Identity had already taken $125 million in funding.
In September 2019, Vista Equity Partners took the company public rather than selling it. Goldman Sachs led Ping Identity's initial public offering (IPO).
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. The value of the stock rose $5 in its first day and jumped to a 30% increase in the market debut. This was the first organization that Vista Holdings took public. Vista retains 80% ownership of the company. As of September 2019, the company was valued at $1.56 billion dollars.
