Company:Ping Identity

From HandWiki
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 people
Andre 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
Websitepingidentity.com
Footnotes / references
[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

Founding through 2014

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]

2014-2020

In 2014, Ping Identity acquired Accells Technologies and gained access to several mobile authentication patents.[19]

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.[20] At the time of the sale, Ping Identity had already taken $125 million in funding.[21] Shortly after the buyout, Ping Identity acquired UnboundID, and expanded its customer identity and directory capabilities.[22] In 2018, the company acquired Elastic Beam, an API security firm, adding API security technology to its platform.[23]

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.[24][25][11] Goldman Sachs led Ping Identity's IPO, and the company was listed on the New York Stock Exchange under the ticker symbol PING.[26][27]

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.[27] The value of the stock rose $5 in its first day and jumped to a 30% increase in the market debut.[28] This was the first organization that Vista Holdings took public.[25] Vista retained 80 percent ownership of the company.[29]

2021-present

In 2021, Ping Identity released its PingOne Cloud Platform and Dynamic Authorization offering.[30]

In August 2022, Thoma Bravo agreed to buy Ping Identity in an all-cash transaction valued at around $2.8 billion.[31] The acquisition closed on October 18, 2022.[32][33] Upon its completion, Ping Identity returned to private ownership with its stock no longer listed on the New York Stock Exchange.[32] On August 23, 2023, Ping Identity and ForgeRock were combined following Thoma Bravo's acquisition of ForgeRock.[34][35] The combination allowed Ping Identity to present a broader identity platform.[10]

By 2026, Ping Identity managed over eight billion accounts.[36] 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.[36][37] The acquisition also expanded Ping’s authentication options for frontline workers and shared terminal environments.[38][39]

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.[40]

In 2026, the company expanded its products and services to address the ongoing identity assurance and security needs related to artificial intelligence. The included the announcement of Universal Services, which Ping Identity described as supporting continuous identity assurance to shift identity security from single checks to ongoing verification.[41][2]

Standards

Ping Identity participates in identity standards and interoperability efforts including the FIDO Alliance and the OpenID Foundation.[42][43] Its products support open standards and protocols such as SAML, OAuth 2.0, OpenID Connect, and Financial-grade API (FAPI).[44][45][46]

References

  1. ↑ "Ping Identity Holdings Corp. 2021 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 2022-02-24. https://www.sec.gov/ix?doc=/Archives/edgar/data/0001679826/000155837022001977/ping-20211231x10k.htm. 
  2. ↑ 2.0 2.1 "Ping Identity Unveils ‘Universal Services’ to Extend Identity Trust Beyond Login" (in en). 2026-01-20. https://www.securityinfowatch.com/cybersecurity/news/55344549/ping-identity-unveils-universal-services-to-extend-identity-trust-beyond-login. 
  3. ↑ "Vista Equity Partners". https://www.vistaequitypartners.com/company/ping-identity/. 
  4. ↑ "All Ping Identity Office Locations" (in en). https://www.glassdoor.com/Location/All-Ping-Identity-Office-Locations-E380907.htm. 
  5. ↑ "What Is Ahead For Ping Identity?" (in en-US). 23 February 2018. https://finance.yahoo.com/news/ahead-ping-identity-164043909.html. 
  6. ↑ 6.0 6.1 6.2 "Ping Identity" (in en). https://www.forbes.com/companies/ping-identity/. 
  7. ↑ "Ping Identity Defines the Runtime Identity Standard for Autonomous AI" (in en-US). https://vmblog.com/news/ping-identity-defines-the-runtime-identity-standard-for-autonomous-ai/. 
  8. ↑ Lagonsin, Joseph Gabriel. "Ping launches Identity for AI with runtime controls" (in en). https://itbrief.news/story/ping-launches-identity-for-ai-with-runtime-controls. 
  9. ↑ "Ping Identity Redefines the Identity Control Plane for the Agentic Enterprise". 28 May 2026. https://ai-techpark.com/ping-identity-redefines-the-identity-control-plane-for-the-agentic-enterprise/. 
  10. ↑ 10.0 10.1 10.2 "The Ping/ForgeRock combination" (in en). https://www.kuppingercole.com/blog/kuppinger/the-pingforgerock-combination-joining-forces-to-compete-against-microsoft-and-okta. 
  11. ↑ 11.0 11.1 "Ping Identity valued at $1.1B+ in Vista's first IPO exit" (in en). 2019-09-19. https://pitchbook.com/news/articles/ping-identity-valued-at-11b-in-vistas-first-ipo-exit. 
  12. ↑ "Microsoft, Ping, Okta Dominate Access Management Gartner MQ" (in en). 3 January 2025. https://www.bankinfosecurity.com/microsoft-ping-okta-dominate-access-management-gartner-mq-a-27214. 
  13. ↑ "Cisco Systems vs Ping Identity". https://www.gartner.com/reviews/market/access-management/compare/cisco-systems-vs-ping-identity. 
  14. ↑ "SailPoint vs Ping Identity: Complete Comparison Guide for 2026" (in en). 2026-03-10. https://metahorizon.com/blog/sailpoint-vs-ping-identity-comparison-2026. 
  15. ↑ Shankland, Stephen. "Open-source start-up gets funding" (in en). https://www.cnet.com/news/open-source-start-up-gets-funding/. 
  16. ↑ "Ping Identity gains $21 million." (in en-US). 2011-06-21. https://www.denverpost.com/2011/06/21/ping-identity-gains-21-million/. 
  17. ↑ Novet, Jordan (2013-07-16). "Ping Identity gets $44M to make SaaS usage simple and secure" (in en-US). https://gigaom.com/2013/07/16/ping-identity-gets-44m-to-make-saas-usage-simple-and-secure/. 
  18. ↑ "Ping Identity Picks Up $35M Led By KKR" (in en-US). 18 September 2014. https://techcrunch.com/2014/09/18/ping-identity-picks-up-35m-led-by-kkr/. 
  19. ↑ "Ping Identity snaps up mobile security start-up Accells" (in en-US). The Times of Israel. 2014-03-27. ISSN 0040-7909. http://www.timesofisrael.com/ping-identity-snaps-up-mobile-security-start-up-accells/. 
  20. ↑ Robert Hackett (June 1, 2016). "Vista Equity Partners Is Acquiring Ping Identity". Fortune. https://fortune.com/2016/06/01/vista-equity-partners-ping-identity-acquire/. 
  21. ↑ Cat Zakrzewski (June 1, 2016). "Vista Equity Partners to Acquire Ping Identity". Wall Street Journal. https://www.wsj.com/articles/vista-equity-partners-to-acquire-ping-identity-1464793202. 
  22. ↑ Miller, Ron (2016-08-02). "Ping Identity expands mission to customers with UnboundID acquisition" (in en-US). https://techcrunch.com/2016/08/02/ping-identity-expands-mission-to-customers-with-unboundid-acquisition/. 
  23. ↑ Miller, Ron (2018-06-26). "Ping Identity acquires stealthy API security startup Elastic Beam" (in en-US). https://techcrunch.com/2018/06/26/ping-identity-acquires-stealthy-api-security-startup-elastic-beam/. 
  24. ↑ DeFrancesco, Robert. "Ping Identity Displaces Legacy Rivals As It Modernizes Authentication" (in en). https://www.forbes.com/sites/robertdefrancesco/2020/01/29/ping-identity-displaces-legacy-rivals-as-it-modernizes-authentication/. 
  25. ↑ 25.0 25.1 Cooper, Laura (2019-09-19). "Ping Identity Listing Marks IPO Milestone for Vista" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/ping-identity-listing-marks-ipo-milestone-for-vista-11568933532. 
  26. ↑ "Vista Equity hires banks for Ping Identity IPO: sources". Reuters. 2018-12-11. https://www.reuters.com/article/us-vista-equity-m-a-ping-identity/vista-equity-hires-banks-for-ping-identity-ipo-sources-idUSKBN1OA2DY. 
  27. ↑ 27.0 27.1 "Ping Identity Holding Corp. Form S-1". U.S. Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/1679826/000104746919005063/a2239550zs-1a.htm. 
  28. ↑ "Shares of secure login software maker Ping Identity surge more than 30% in their market debut". CNBC. 2019-08-19. https://www.cnbc.com/2019/09/19/shares-of-software-maker-ping-identity-up-25percent-in-ipo.html. 
  29. ↑ "Ping Identity Gains 34% in Trading Debut After $188 Million IPO". Bloomberg. 2019-08-19. https://www.bloomberg.com/news/articles/2019-09-19/ping-identity-gains-32-in-trading-debut-after-188-million-ipo. 
  30. ↑ Novinson, Michael. "Ping Identity Acquires Bot Detection Startup SecuredTouch". https://www.crn.com/news/security/ping-identity-acquires-bot-detection-startup-securedtouch. 
  31. ↑ Prakash, Prarthana (2022-08-03). "Ping Identity Surges After Thoma Bravo Deal Announced". Bloomberg News. https://www.bloomberg.com/news/articles/2022-08-03/ping-identity-surges-after-thoma-bravo-bid-announced. 
  32. ↑ 32.0 32.1 "Ping Identity to be Acquired by Thoma Bravo for $2.8 Billion". https://www.sec.gov/Archives/edgar/data/1679826/000110465922085439/tm2222402d1_ex99-1.htm. 
  33. ↑ Wentling, Nikki (2022-10-18). "Thoma Bravo finalizes purchase of Denver's Ping Identity". American City Business Journals. https://www.bizjournals.com/denver/news/2022/10/18/thoma-bravo-purchase-denver-ping-identity.html. 
  34. ↑ Sriram, Akash (23 August 2023). "Thoma Bravo closes $2.3 bln deal to take software firm ForgeRock private". Reuters. https://www.reuters.com/markets/deals/thoma-bravo-closes-23-bln-deal-take-software-firm-forgerock-private-2023-08-23/. 
  35. ↑ Liu, Nancy (2023-11-22). "Gartner names 5 leading access management platforms" (in en). https://www.sdxcentral.com/analysis/gartner-names-5-leading-access-management-platforms/. 
  36. ↑ 36.0 36.1 Penn, David (2025-11-03). "Ping Identity Acquires Best of Show Winner Keyless" (in en-US). https://finovate.com/ping-identity-acquires-best-of-show-winner-keyless/. 
  37. ↑ Chowdhry, Amit (2026-01-08). "Ping Identity Completes Keyless Acquisition" (in en). https://pulse2.com/ping-identity-completes-keyless-acquisition/. 
  38. ↑ Novinson, Michael (7 November 2025). "Ping Identity Boosts Frontline Staff Access With Keyless Buy" (in en). https://www.bankinfosecurity.com/ping-identity-boosts-frontline-staff-access-keyless-buy-a-29962. 
  39. ↑ French, Laura (2025-11-14). "Ping-Keyless deal highlights authentication gaps for frontline workers" (in en). https://www.scworld.com/feature/ping-keyless-deal-highlights-authentication-gaps-for-frontline-critical-infrastructure-workers. 
  40. ↑ "Design Rationale behind the Identity Metasystem Architecture". PSU.edu. 2019-08-02. https://www.nccoe.nist.gov/publication/1800-3/VolB/. 
  41. ↑ "Ping Identity launches Universal Services for ongoing identity assurance" (in en-US). 2026-01-20. https://www.helpnetsecurity.com/2026/01/20/ping-identity-universal-services/. 
  42. ↑ Burt, Chris (2019-07-01). "Ping Identity updates core MFA product with FIDO support and intelligence capabilities". https://www.biometricupdate.com/201907/ping-identity-updates-core-mfa-product-with-fido-support-and-intelligence-capabilities. 
  43. ↑ "Ping Identity joins Decentralized Identity Foundation to advance open standards for personal identity" (in en). http://localhost/news/ping-identity-joins-decentralized-identity-foundation-co-12592-ga.1615126007.html. 
  44. ↑ "What Is Ping Identity and How Does It Compare?" (in en). https://supertokens.com/blog/ping-identity. 
  45. ↑ "Ping Identity completes FAPI conformance testing by enhancing security for Open Banking" (in en). http://localhost/tags/cloud-security/news/ping-identity-completes-fapi-conformance-testing-co-12592-ga.1565346079.html. 
  46. ↑ "First FAPI 2.0 Certifications Published - OpenID Foundation" (in en-US). 2023-05-08. https://openid.net/first-fapi-2-0-certifications-published/. 



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