FB pixel

Ping Identity reported to be in preparation for IPO at up to $3 billion valuation

 

Ping Identity is being prepared for an initial public offering which could value it at between $2 billion and $3 billion, including debt, Reuters reports, and the company has announced it is now providing the Ping Intelligent Identity Platform to all 12 of the largest banks in the U.S.

Unnamed sources told Reuters that Vista Equity Partners, the buyout firm that acquired Ping in 2016 for $600 million, has hired investment banks, led by Goldman Sachs to prepare the IPO. None of the companies have commented on the report.

IPOs are not Vista Equity’s usual course of action, according to Reuters. In the case of Ping, it may look to cash in on the environment in which Okta shares grew 275 percent since a 2017 IPO, for a nearly $7 billion market capitalization. Reuters also notes that Duo Security was acquired by Cisco for $2.35 billion earlier this year, suggesting ample investor confidence in multi-factor authentication providers.

Vista Equity sold Marketo, a marketing software company, to Adobe earlier this year for $4.75 billion, making nearly $3 billion in only two years since it taking it private.

The top 12 U.S. banks by assets, with a combined $12.9 trillion, all now use Ping Identity to secure identity and profile data, streamline user experiences, and comply with regulations, according to the announcement.

“Financial services providers face more than their fair share of challenges, and our solutions are designed to help meet stringent security mandates and regulations—without compromising personalized experiences,” comments Ping Identity CEO Andre Durand. “We’re honored to be trusted by more than 275 of the largest financial services enterprises in the world, helping them meet their security and customer experience needs.”

Ping recently launched an IDaaS product for enterprise app developers.

The company today announced the addition of two new executives to its leadership team. Kris Nagel joins as Chief Operating Officer and Ed Roberto joins as General Manager, Cloud Software.

Article Topics

 |   |   |   | 

Latest Biometrics News

 

Securing user trust and safeguarding platforms with biometric identity verification

Verified trust is the new currency: so says a new report from reusable verified identity and screening company Trua, looking…

 

Essex Police reveal impressive accuracy of LFR from Corsight, Digital Barriers

England’s Essex Police have performed 383,356 match attempts with live facial recognition software from Corsight AI and Digital Barriers, with…

 

US and UK refusal to sign Paris declaration shows divergence in AI strategy

The U.S. and the UK have declined to sign the Paris AI summit declaration, which seeks to establish a “human…

 

DHS’s compliance with AI privacy, civil liberties requirements lacking, IG says

The Department of Homeland Security (DHS) has made strides in developing policies and frameworks to govern its AI use, including…

 

Precise Biometrics: quarterlies, annuals, SEC actions

Feb 13, 2025 – Net sales for Precise Biometrics rose 15.7 percent percent from 75.1 million Swedish kronor (approximately US$7 million)…

 

YouTube, Meta lean into age assurance in 2025

In the past twelve months, age assurance for online content – a method for knowing that a user is of…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Viewed This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events