Anticipating IPO in 2014, Ping Identity Raises $44 Million Series F

by Bill Brady
July 16, 2013

[ibimage==22633==Original==none==self==ibimage_align-right]Ping Identity, an 11-year old company that focuses on helping companies manage the sign-in and other credentials for their many cloud and software applications, has secured a $44 million Series F round of venture capital funding.

The round was led by W Capital Partners and DFJ Growth. Previous investors, including General Catalyst Partners, Draper Fisher Jurvetson, Avista Partners, Triangle Peak Partners, SAP Ventures, the investment arm of software giant SAP, and Appian Ventures also participated. The financing round also includes some debt provided by Silicon Valley Bank. The round brings Ping Identity’s total capital raised to $78 million.

Earlier this month, EMC’s security division, RSA, acquired Aveksa, a player in identity management, for a reported $225 million. Meanwhile, startup Okta late last year landed a $25 million C round led by Sequoia Capital.

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