News
Ping Identity Raises $44 Million for Next-Gen Identity Management
July 2013 by Marc Jacob
Ping Identity®, The Identity Security Company™, 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 Partners, 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.
IDC predicts that by 2020, “90 percent of IT industry growth will be driven by [technologies] that, today, represent just 22 percent 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.”*
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 organisations, 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.
Shea & Company, LLC acted as a financial advisor to Ping Identity in connection with the investment round.
