News
Ping Identity Launches Ping Ventures to Accelerate Innovation in Identity Security
June 2022 by Patrick LEBRETON
$50 Million Fund to Expand Next Generation Identity Solutions to Help Customers Meet Constantly-Evolving Security Challenges
Ping Identity (NYSE: PING), the Intelligent Identity solution for the enterprise, has launched Ping Ventures, a new corporate venture capital fund that will fuel innovation in the identity security market. In addition, Ping Identity is also announcing the fund’s initial investment, Allthenticate, a unified access control and authentication company, that is in the process of closing.
Ping Ventures will serve as an in-house corporate venture arm providing capital and guidance to startups building the next generation of identity and access management (IAM) solutions. The $50 million fund will invest in early stage, high-growth technology companies that will expand support for Ping Identity’s product portfolio by delivering integrated, complementary, and add-on technologies and solutions.
Ping Ventures will act as a co-investor and strategic partner alongside lead investors looking for innovative startups in the Identity and Access Management space and adjacent markets. The technology focus of the fund will include but won’t be limited to online fraud and risk services, real-time identity verification, identity and data access governance, decentralised identity, machine identity, experience automation, and dynamic authorisation and entitlement.
The fund will be led by the Head of Corporate Development, Anton Papp. Alongside a monetary investment, Ping Ventures plans to provide start-ups with use of Ping’s hybrid portfolio of products and services, access to business and technical subject matter experts and access to leading industry standards architects.
