Wednesday, 22 June 2022 11:54

Ping Identity focus on startups with launch of new venture capital fund Featured

By Staff Writer
Andre Durand, CEO and founder of Ping Identity Andre Durand, CEO and founder of Ping Identity

Ping Identity, the intelligent identity solution for the enterprise, has launched Ping Ventures, a new corporate venture capital fund it says is aimed at providing capital and guidance to startups building the next generation of identity and access management (IAM) solutions.

Ping Identity says the US$50 million fund will invest in early stage, high-growth technology companies that will expand support for its 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 Ping Identity CEO and founder Andre Durand.

“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.”

Durand said 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 - and 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, decentralised identity, machine identity, experience automation, and dynamic authorisation and entitlement.

Ping Identity said the fund will be led by the head of corporate development Anton Papp, who said that 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.

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