$50 Million Fund to Expand Next
Generation Identity Solutions to Help Customers Meet
Constantly-Evolving Security Challenges
DENVER, June 21,
2022 /PRNewswire/ -- Ping Identity (NYSE: PING),
the Intelligent Identity solution for the enterprise, has launched
Ping Ventures, a new corporate venture capital fund that will fuel
innovation in the identity security market. In addition, Ping
Identity is also announcing the fund's initial investment,
Allthenticate, a unified access control and authentication company,
that is in the process of closing.
Ping Ventures will serve as an in-house corporate venture arm
providing capital and guidance to startups building the next
generation of identity and access management (IAM) solutions. The
$50 million fund will invest in early
stage, high-growth technology companies that will expand support
for Ping Identity's product portfolio by delivering integrated,
complementary, and add-on technologies and solutions.
"Our mission has always been to deliver innovative products that
address continuously evolving security risks and business needs,"
said Andre Durand, CEO and founder
of Ping Identity. "But keeping pace with new threats means we can't
do it all alone. Ping Ventures will provide businesses access to
new innovations to engage their customers and employees in seamless
and secure digital experiences."
Ping Ventures will act as a co-investor and strategic partner
alongside lead investors looking for innovative startups in the
Identity and Access Management space and adjacent markets. The
technology focus of the fund will include but won't be limited to
online fraud and risk services, real-time identity verification,
identity and data access governance, decentralized identity,
machine identity, experience automation, and dynamic authorization
and entitlement.
The fund will be led by the Head of Corporate Development,
Anton Papp. Alongside a monetary
investment, Ping Ventures plans to provide start-ups with use of
Ping's hybrid portfolio of products and services, access to
business and technical subject matter experts and access to leading
industry standards architects. Learn more about Ping Ventures
here.
About Ping Identity
At Ping Identity, we believe in making digital experiences both
secure and seamless for all users, without compromise. That's
digital freedom. We let enterprises combine our best-in-class
identity solutions with third-party services they already use to
remove passwords, prevent fraud, support Zero Trust, or anything in
between. This can be accomplished through a simple drag-and-drop
canvas. That's why more than half of the Fortune 100 choose Ping
Identity to protect digital interactions from their users while
making experiences frictionless. Learn more
at www.pingidentity.com.
About Allthenticate
Allthenticate provides an all-in-one authentication and
access-control solution that lets organizations eliminate passwords
and key fobs by replacing them with secure credentials stored on
their smartphones. Our Allthenticator app lets users unlock
doors, log in to computers, sign in to websites, and store their
SSH keys. Meanwhile, our flexible security architecture ensures
that this is always done in the easiest and most secure way
possible. Similarly, our access control solution augments any
physical door in minutes without the need for long cable runs,
controller boards, or cluttering your walls. For more information
about how we are freeing the world from its authentication burdens
and spreading joy, check us out at www.allthenticate.com.
Ping Identity Media Relations
Megan Johnson
press@pingidentity.com
757.635.2807
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SOURCE Ping Identity Corp.