Cloud services provider raises US$44 million in funding round

July 16
11:16 PM 2013

Ping Identity Corp. announced yesterday that it received up to US$44 million in capital financing from private equity firms and venture capital investors in a funding round. Denver-based Ping Identity Corp. is an identity and log-on management firm.

The funding round for Ping Identity Corp. was headed by Menlo Park, New York City-based W Capital Partners, and California-based DFJ Growth. Menlo Park is a new fund of Draper Fisher Jurvetson. The funding involved existing investors Draper Fisher Jurvetson, Volition Capital, General Catalyst Partners, Triangle Peak Partners, Appian Ventures, and SAP Ventures.

Ping Identity Corp. creates software programs to enable medium to large-sized businesses manage the online identities of their very own employees. The products and solutions created by Ping Identity gives their clients single but secure sign-ons for cloud services.

Before to the latest round, Ping Identity had already raised in excess of US$50 million since Ping Identity started in 2002.

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