Ping Identity – Profile
HQ: Denver, CO
Founded: January 2002
Management: CEO Andre Durand founded IM vendor Jabber. He also founded Durand Communications, a provider of client/server products for online databases and applications, which Webb Interactive acquired in 1998 for $10M.
Investors: In June 2005, Ping raised $7.5M led by Draper Fisher Jurvetson leads Round with SAP Ventures and existing investors, General Catalyst Partners and Fidelity Ventures.
Business Model: Ping’s big idea is that companies should be able to more easily share their customer’s personal information without fear of it getting into the wrong hands or of abusing their privacy. Ping Identity has developed a lot for a startup. Its products are: PingFederate is an identity federation server; and PingDeploy which lets vendors test a baseline level of conformance with the Security Assertion Markup Language (SAML) protocol as well as SourceID – an open source tool kit for SAML, Liberty and WS-Fed.
Competitors: Unclear at this point.
Dirt: CEO Andre Durand has a lot of credibility in this industry. It helps that he founded and runs the industry event Digital ID World. And his vision makes a lot of sense. But it does strike us that he is biting off a lot here. Corporations are rightly paranoid about their customer’s data and Ping is asking them to share. As a result, they currently have lots of partners but no clients to boast of.