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Ping Identity

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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

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Founding through 2014

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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

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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 continued to expand its products through a number of acquisitions, including ShoCard and Symphonic Software in 2020, and SecuredTouch and Singular Key in 2021.[28][29]

2021-present

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In 2021, Ping Identity released its PingOne Cloud Platform and Dynamic Authorization offering.[28]

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

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Ping Identity provides an intelligent identity and access management (IAM) platform designed to identify, manage, access, govern, protect, and orchestrate identity.[39]

The platform supports workforce, customer, partner, and AI-related use cases.[7][8][9][10] Product groupings include PingOne cloud services, Advanced Identity software and cloud offerings, and enterprise and hybrid products.[40]

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.[41][42][43][34]

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.[44][2]

Standards

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Ping Identity participates in identity standards and interoperability efforts including the FIDO Alliance and the OpenID Foundation.[45][46] Its products support open standards and protocols such as SAML, OAuth 2.0, OpenID Connect, and Financial-grade API (FAPI).[47][48][49]

References

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  1. ↑ "Ping Identity Holdings Corp. 2021 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 2022-02-24.
  2. 1 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. 1 2 "Ping Identity Defines the Runtime Identity Standard for Autonomous AI". VMblog. Retrieved 2026-08-12.
  8. 1 2 Lagonsin, Joseph Gabriel. "Ping launches Identity for AI with runtime controls". IT Brief US. Retrieved 2026-08-12.
  9. 1 2 "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 4 "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. ↑ "Ping Identity snaps up mobile security start-up Accells". The Times of Israel. 2014-03-27. ISSN 0040-7909. Retrieved 2026-10-01.
  20. ↑ Robert Hackett (June 1, 2016). "Vista Equity Partners Is Acquiring Ping Identity". Fortune. Retrieved October 31, 2013.
  21. ↑ Cat Zakrzewski (June 1, 2016). "Vista Equity Partners to Acquire Ping Identity". Wall Street Journal. Retrieved August 2, 2019.
  22. ↑ Miller, Ron (2016-08-02). "Ping Identity expands mission to customers with UnboundID acquisition". TechCrunch. Retrieved 2026-09-17.
  23. ↑ Miller, Ron (2018-06-26). "Ping Identity acquires stealthy API security startup Elastic Beam". TechCrunch. Retrieved 2026-09-17.
  24. ↑ DeFrancesco, Robert. "Ping Identity Displaces Legacy Rivals As It Modernizes Authentication". Forbes. Retrieved 2020-06-23.
  25. ↑ Cooper, Laura (2019-09-19). "Ping Identity Listing Marks IPO Milestone for Vista". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-06-16.
  26. ↑ "Vista Equity hires banks for Ping Identity IPO: sources". Reuters. 2018-12-11. Retrieved 2019-08-02.
  27. ↑ "Ping Identity Holding Corp. Form S-1". U.S. Securities and Exchange Commission. Retrieved 2020-06-16.
  28. 1 2 Novinson, Michael. "Ping Identity Acquires Bot Detection Startup SecuredTouch". CRN. Retrieved 2026-08-20.
  29. ↑ Vigliarolo, Brandon (2022-02-04). "Ping Identity's new DaVinci platform brings no-code to identity orchestration". TechRepublic. Retrieved 2026-10-13.
  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. 1 2 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. ↑ "Top identity and access management (IAM) solutions - Spiceworks". Spiceworks Inc. 2020-11-26. Retrieved 2026-10-07.
  40. ↑ "Top 10 Best Identity And Access Management (IAM) Companies 2026". GBHackers Security. 2026-04-04. Retrieved 2026-10-07.
  41. ↑ Robb, Drew (2025-02-04). "How to Prevent Phishing Attacks with Multi-Factor Authentication". TechRepublic. Retrieved 2026-10-13.
  42. ↑ "3 Top Multifactor Authentication Tool Providers in 2025". Cybersecurity. Retrieved 2026-10-13.
  43. ↑ Ferrill, Tim (2021-11-16). "Ping Identity PingOne Review". PCMAG. Retrieved 2026-10-13.
  44. ↑ "Ping Identity launches Universal Services for ongoing identity assurance". Help Net Security. 2026-01-20. Retrieved 2026-10-01.
  45. ↑ Burt, Chris (2019-07-01). "Ping Identity updates core MFA product with FIDO support and intelligence capabilities". Biometric Update. Retrieved 2026-09-17.
  46. ↑ "Ping Identity joins Decentralized Identity Foundation to advance open standards for personal identity". sourcesecurity.com. Retrieved 2026-09-17.
  47. ↑ "What Is Ping Identity and How Does It Compare?". supertokens.com. Retrieved 2026-09-25.
  48. ↑ "Ping Identity completes FAPI conformance testing by enhancing security for Open Banking". localhost. Retrieved 2026-09-25.
  49. ↑ "First FAPI 2.0 Certifications Published - OpenID Foundation". 2023-05-08. Retrieved 2026-09-25.
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