Ping Identity Corporation
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Ping Identity Corporation - overview
Established
2001
Location
Denver, CO, US
Primary Industry
Software
About
Ping Identity Corporation, based in the US, specializes in identity security solutions, offering comprehensive platforms for customer identity and access management, as well as single sign-on and multi-factor authentication services. Founded in 2001 and headquartered in Denver, US, Ping Identity Corporation provides identity security solutions for enterprises. The company was recently acquired in a Public to Private transaction by Thoma Bravo for USD 2. 8 billion on August 2, 2022, having previously been owned by Vista Equity Partners.
The CEO and Founder, Andre Durand, has a background in technology entrepreneurship, leading the company through its evolution in the identity security landscape. Ping Identity specializes in identity security solutions designed for enterprises navigating the complexities of the digital landscape. Their flagship offerings include the PingOne platform, providing customer identity and access management (CIAM), and PingFederate, enabling single sign-on (SSO) and multi-factor authentication (MFA). These products optimize user experiences while ensuring robust security, with applications in fraud prevention and customer engagement.
The company serves clients in various sectors, including financial services, healthcare, retail, and government, with notable customers such as Coast Capital and Philips, and has a global presence across North America, Europe, and the Asia-Pacific region. In the most recent fiscal year 2021, Ping Identity generated revenue of USD 299. 45 mn, with an EBITDA loss of USD 23. 46 mn.
The company operates on a subscription-based revenue model, allowing clients ongoing access to its identity management services, including products like PingOne for Customers and PingOne for Workforce, which facilitate user authentication and access control. Following its acquisition by Thoma Bravo in August 2022, Ping Identity Corporation aims to accelerate its cloud transformation and enhance its identity security offerings for large enterprises globally. While specific upcoming products have not been detailed, the company is expected to leverage recent funding to innovate its solutions. Expansion plans into new geographic markets are anticipated, reflecting a commitment to supporting global enterprises with advanced identity security solutions.
Current Investors
Thoma Bravo, Draper Fisher Jurvetson, General Catalyst Partners
Primary Industry
Software
Sub Industries
Web Applications, IT Security/Cybersecurity, Systems Management Software, Monitoring & Security Software, Application Integration Software
Website
www.pingidentity.com
Verticals
Artificial Intelligence, Blockchain, Cloud Computing, Mobile Apps
Company Stage
Mature
Total Amount Raised
Subscriber access only
Ping Identity Corporation - timeline of key events
Ping Identity Corporation - financials
| Fiscal Year Ended | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue (USD) | 172,539,000 | 201,562,000 | - | - | - |
| % Revenue Growth (YoY) | - | 16.8% | - | - | - |
| EBITDA (USD) | 58,264,000 | 52,814,000 | - | - | - |
| Operating Income (USD) | 24,280,000 | 15,886,000 | - | - | - |
| Operating Margin | 14.1% | 7.9% | - | - | - |
| % EBITDA Margin | 33.8% | 26.2% | - | - | - |
| NET Income (USD) | 18,961,000 | (13,446,000) | - | - | - |
| % Net Margin | 11.0% | (6.7%) | - | - | - |
Ping Identity Corporation - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on, Trade Sale | Completed | Keyless Technologies Limited | - | ||||||||
| Add-on, Public to Private, Trade Sale | Completed | ForgeRock, Inc. | - | ||||||||
| Public to Private, Secondary Buyout | Completed | Ping Identity Corporation | - | ||||||||
| Add-on, Trade Sale | Completed | SecuredTouch Inc. | - | ||||||||
| Add-on, Trade Sale | Completed | Symphonic Software Limited | - |
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Ping Identity Corporation - employee data
Ping Identity Corporation - key contacts
| Name | Position | Start Date | End Date | Vcard | Bio | ||
|---|---|---|---|---|---|---|---|
| Board Member, Investor | BM | ||||||
| Member, Board Of Directors | BM |
BM Board Member
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