Ping Identity Corporation is a software company established in 2002 by Andre Durand and Bryan Field-Elliot, in
Denver, Colorado. Ping Identity provides federated identity management and self-hosted identity access management (IAM) solutions to web identities and single sign-on solutions, being one of a number of organizations competing to provide standards to replace passwords for authenticating to web applications. Ping Identity has received a number of rounds of funding, beginning with a Series A on April 16, 2004. Since then, it has received $35 million from
Kohlberg Kravis Roberts on September 18, 2014, $44 million from DFJ Growth and W Capital Partners on July 16, 2013, as well as $21 million from
Silicon Valley Bank, Triangle Peak Partners on June 21, 2011, and $13 million from Appian Ventures.
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. At the time of the sale, Ping Identity had already taken $125 million in funding. In September 2019, Vista Equity Partners took the company public rather than selling it.
Goldman Sachs led Ping Identity's
initial public offering (IPO). 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. The value of the stock rose $5 in its first day and jumped to a 30% increase in the market debut. This was the first organization that Vista Holdings took public. Vista retained 80 percent ownership of the company. In August 2022, Thoma Bravo agreed to buy Ping Identity for $2.8 billion in an all-cash transaction. The acquisition was completed in October 2022. On completion of Thoma Bravo's acquisition of
ForgeRock in August 2023, the private equity firm announced that ForgeRock would be integrated into Ping Identity. ==References==