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Ping Identity

From Wikipedia, the free encyclopedia
Ping Identity
TypePrivate
IndustryIdentity Security/Identity Access Management (IAM) software & services
Founded2002; 24 years ago (2002)
Founders
  • Andre Durand
  • Bryan Field-Elliot
Headquarters
Denver, CO
,
United States
Number of locations
11
Key peopleAndre Durand (CEO)
Products
RevenueIncrease US$299 million (2021)
Decrease US$−79 million (2021)
Decrease US$−64 million (2021)
Total assetsIncrease US$1.18 billion (2021)
Total equityIncrease US$741 million (2021)
OwnerThoma Bravo
Number of employees
2,311 (2026)
Websitepingidentity.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

[edit]

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][10][6] Its secure-access and authentication technologies are used as an alternative to passwords, positioning the company alongside other organizations working to establish password-replacement standards.[6][11] In the IAM sector, Ping Identity competes against vendors that include Microsoft, Okta, CyberArk, IBM, SailPoint, and Cisco.[12][10][13][14]

Ping Identity raised a Series A funding round on April 16, 2004.[15] This was followed by a $21 million round in 2011,[16] a $44 million round in 2013,[17] and a $35 million investment led by Kohlberg Kravis Roberts in 2014.[18]

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.[19] At the time of the sale, Ping Identity had already taken $125 million in funding.[20] Shortly after the buyout, Ping Identity acquired UnboundID, and expanded its customer identity and directory capabilities.[21] In 2018, the company acquired Elastic Beam, an API security firm, adding API security technology to its platform.[22]

In September 2019, Vista Equity Partners took the company public, in what was the first initial public offering (IPO) for one of the firm's portfolio companies.[23][24][11] Goldman Sachs led Ping Identity's IPO, and the company was listed on the New York Stock Exchange under the ticker symbol PING.[25][26]

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.[26] The value of the stock rose $5 in its first day and jumped to a 30% increase in the market debut.[27] This was the first organization that Vista Holdings took public.[24] Vista retained 80 percent ownership of the company.[28]

In 2021, Ping Identity released its PingOne Cloud Platform and Dynamic Authorization offering.[29]

In August 2022, Thoma Bravo agreed to buy Ping Identity in an all-cash transaction valued at around $2.8 billion.[30] The acquisition closed on October 18, 2022.[31][32] Upon its completion, Ping Identity returned to private ownership with its stock no longer listed on the New York Stock Exchange.[31] On August 23, 2023, Ping Identity and ForgeRock were combined following Thoma Bravo's acquisition of ForgeRock.[33][34] The combination allowed Ping Identity to present a broader identity platform.[10]

By 2026, Ping Identity managed over eight billion accounts.[35] The acquisition of Procyon in 2025 expanded Ping Identity's privileged-access offerings. In 2026 the company completed its acquisition of Keyless, and expanded its biometric authentication services with the integration of Keyless’s Zero Knowledge Biometrics into the Ping Identity platform.[35][36] The acquisition also expanded Ping’s authentication options for frontline workers and shared terminal environments.[37][38]

Products

[edit]

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.[39]

Ping Identity participates in identity standards and interoperability efforts including the FIDO Alliance and the OpenID Foundation.[40][41]

References

[edit]
  1. ↑ "Ping Identity Holdings Corp. 2021 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 2022-02-24.
  2. ↑ "Ping Identity Unveils 'Universal Services' to Extend Identity Trust Beyond Login". Security Info Watch. 2026-01-20. Retrieved 2026-07-29.
  3. ↑ "Vista Equity Partners". Retrieved 2011-04-12.
  4. ↑ "All Ping Identity Office Locations". Glassdoor. Retrieved 2026-08-05.
  5. ↑ "What Is Ahead For Ping Identity?". finance.yahoo.com. 23 February 2018. Retrieved 2020-06-23.
  6. 1 2 3 "Ping Identity". Forbes. Retrieved 2020-06-23.
  7. ↑ "Ping Identity Defines the Runtime Identity Standard for Autonomous AI". VMblog. Retrieved 2026-08-12.
  8. ↑ Lagonsin, Joseph Gabriel. "Ping launches Identity for AI with runtime controls". IT Brief US. Retrieved 2026-08-12.
  9. ↑ "Ping Identity Redefines the Identity Control Plane for the Agentic Enterprise". ai-techpark.com. 28 May 2026. Retrieved 24 August 2026.
  10. 1 2 3 "The Ping/ForgeRock combination". KuppingerCole Analysts. Retrieved 2026-08-12.
  11. 1 2 "Ping Identity valued at $1.1B+ in Vista's first IPO exit". PitchBook. 2019-09-19. Retrieved 2026-08-24.
  12. ↑ "Microsoft, Ping, Okta Dominate Access Management Gartner MQ". bankinfosecurity.com. 3 January 2025. Retrieved 2026-08-12.
  13. ↑ "Cisco Systems vs Ping Identity". Gartner.com. Retrieved 24 August 2026.
  14. ↑ "SailPoint vs Ping Identity: Complete Comparison Guide for 2026". Metahorizon. 2026-03-10. Retrieved 2026-08-24.
  15. ↑ Shankland, Stephen. "Open-source start-up gets funding". CNET. Retrieved 2020-06-16.
  16. ↑ "Ping Identity gains $21 million". The Denver Post. 2011-06-21. Retrieved 2020-06-16.
  17. ↑ Novet, Jordan (2013-07-16). "Ping Identity gets $44M to make SaaS usage simple and secure". gigaom.com. Archived from the original on July 16, 2013. Retrieved 2020-06-16.
  18. ↑ "Ping Identity Picks Up $35M Led By KKR". TechCrunch. 18 September 2014. Retrieved 2020-06-16.
  19. ↑ Robert Hackett (June 1, 2016). "Vista Equity Partners Is Acquiring Ping Identity". Fortune. Retrieved October 31, 2013.
  20. ↑ Cat Zakrzewski (June 1, 2016). "Vista Equity Partners to Acquire Ping Identity". Wall Street Journal. Retrieved August 2, 2019.
  21. ↑ Miller, Ron (2016-08-02). "Ping Identity expands mission to customers with UnboundID acquisition". TechCrunch. Retrieved 2026-09-17.
  22. ↑ Miller, Ron (2018-06-26). "Ping Identity acquires stealthy API security startup Elastic Beam". TechCrunch. Retrieved 2026-09-17.
  23. ↑ DeFrancesco, Robert. "Ping Identity Displaces Legacy Rivals As It Modernizes Authentication". Forbes. Retrieved 2020-06-23.
  24. 1 2 Cooper, Laura (2019-09-19). "Ping Identity Listing Marks IPO Milestone for Vista". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-06-16.
  25. ↑ "Vista Equity hires banks for Ping Identity IPO: sources". Reuters. 2018-12-11. Retrieved 2019-08-02.
  26. 1 2 "Ping Identity Holding Corp. Form S-1". U.S. Securities and Exchange Commission. Retrieved 2020-06-16.
  27. ↑ "Shares of secure login software maker Ping Identity surge more than 30% in their market debut". CNBC. 2019-08-19. Retrieved 2019-08-19.
  28. ↑ "Ping Identity Gains 34% in Trading Debut After $188 Million IPO". Bloomberg. 2019-08-19. Retrieved 2019-08-19.
  29. ↑ Novinson, Michael. "Ping Identity Acquires Bot Detection Startup SecuredTouch". CRN. Retrieved 2026-08-20.
  30. ↑ Prakash, Prarthana (2022-08-03). "Ping Identity Surges After Thoma Bravo Deal Announced". Bloomberg News.{{cite news}}: CS1 maint: deprecated archival service (link)
  31. 1 2 "Ping Identity to be Acquired by Thoma Bravo for $2.8 Billion". sec.gov. Retrieved 2026-08-26.
  32. ↑ Wentling, Nikki (2022-10-18). "Thoma Bravo finalizes purchase of Denver's Ping Identity". American City Business Journals.
  33. ↑ Sriram, Akash (23 August 2023). "Thoma Bravo closes $2.3 bln deal to take software firm ForgeRock private". Reuters.
  34. ↑ Liu, Nancy (2023-11-22). "Gartner names 5 leading access management platforms". sdxcentral.com. Retrieved 2026-08-26.
  35. 1 2 Penn, David (2025-11-03). "Ping Identity Acquires Best of Show Winner Keyless". Finovate. Retrieved 2026-08-24.
  36. ↑ Chowdhry, Amit (2026-01-08). "Ping Identity Completes Keyless Acquisition". Pulse 2.0. Retrieved 2026-08-24.
  37. ↑ Novinson, Michael (7 November 2025). "Ping Identity Boosts Frontline Staff Access With Keyless Buy". bankinfosecurity.com. Retrieved 2026-09-03.
  38. ↑ French, Laura (2025-11-14). "Ping-Keyless deal highlights authentication gaps for frontline workers". SC Media. Retrieved 2026-09-03.
  39. ↑ "Design Rationale behind the Identity Metasystem Architecture". PSU.edu. 2019-08-02. Retrieved 2019-08-02.
  40. ↑ Burt, Chris (2019-07-01). "Ping Identity updates core MFA product with FIDO support and intelligence capabilities". Biometric Update. Retrieved 2026-09-17.
  41. ↑ "Ping Identity joins Decentralized Identity Foundation to advance open standards for personal identity". sourcesecurity.com. Retrieved 2026-09-17.
[edit]
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