Ping Identity, a US-based IT company which provides an identity security and access management platform, has raised $44m in a series F fundraising round, led by private equity firm W Capital Partners and DFJ Growth, the later stage investing practice of venture capital firm DFJ. The round included participation from existing investors – SAP Ventures, the growth stage investment firm affiliated with Germany-based software company SAP, and venture capital firms General Catalyst Partners, Draper Fisher Jurvetson, Volition Capital, Triangle Peak Partners, and Appian Ventures, with debt provided by Silicon Valley Bank.
The latest investment will be used to accelerate the completion of the company’s next-generation platform for identity security.
Ping Identity has raised a total of $78m, including a $21m round in 2011, a $13m series C roiund in 2006, $7.5m in May 2005 and its A round in April 2004 at $5.8m.
Andre Durand, chief executive officer of Ping Identity, said: “Over the past five years, Identity has emerged as the cornerstone of security, convenience and control in a world dominated by mobility, federated business and dissolving borders. We’re reimagining everything as we redefine how identity management can scale to Internet and cloud proportions, serving billions of users, devices, and services over the course of the next decade.”
Blake Heston, principal of W Capital Partners, said: “Ping Identity’s vision for an identity centric future has positioned it as a leader in the identity security space for a decade.”