US-based cloud security company Ping Identity raised $35m in funding on Thursday from investors including SAP Ventures, the corporate venturing unit of Germany-based software company SAP.
Investment firm KKR led the round, which also included venture capital firms Ten Eleven Ventures, Draper Fisher Jurvetson, General Catalyst Partners, W Capital Partners, Volition Capital, Triangle Peak Partners and Appian Ventures.
Ping Identity provides cloud-based identity management software for companies and government organisations. The funding will be used to support product innovation and international expansion to meet market demand.
Andre Durand, founder and chief executive of Ping Identity, said: “This funding is further recognition that Ping Identity has built the largest independent identity company, and we are positioned to extend that growth as an enduring, independent company.
“We are excited to have the backing from KKR and our other incredible investors as we execute on Ping’s mission to secure and protect online identity.”
The company has now raised a total of $110m, including $44m in series F funding in June 2013 from SAP, W Capital Partners, SAP, DFJ Growth, General Catalyst Partners, Volition Capital, Triangle Peak Partners and Appian Ventures.