Ping Identity gets $44M to make SaaS usage simple and secure
July 16, 2013
Grazed from GigaOM. Author: Jordan Novet.
Lots of businesses have been sold on the idea of paying a little bit each month for Software as a Service (SaaS) that doesn’t need to be hosted behind the corporate firewall. But managing all those logins and user access on many devices can be tedious, which is why it makes sense to have a single sign-on system in place.
Ping Identity provides that service, and investors are giving the company $44 million in new funding. DFJ Growth and W Capital Partners led the round, announced Tuesday, along with contributions from previous investors Appian Ventures, Draper Fisher Jurvetson, General Catalyst Partners, Triangle Peak Partners, SAP Ventures and Volition Capital. Debt from Silicon Valley Bank is also part of the mix…
Over at AllThingsD, Arik Hesseldahl is reporting the company has raised a total of $78 million to date and is looking to go public next year. However, a company spokeswoman wrote in an email that the company has now raised $90 million in total. The new funding will help the company expand internationally, handle rapid growth on the infrastructure side and “extend its identity security use cases for workforce, customers and partners,” among other things, the spokeswoman wrote…
Read more from the source @ http://gigaom.com/2013/07/16/ping-identity-gets-44m-to-make-saas-usage-simple-and-secure/