Ping Identity Announces Record Growth from Strong Enterprise Demand for Identity Defined Security

Ping Identity Announces Record Growth from Strong Enterprise Demand for Identity Defined Security


Denver — January 28, 2016

Ping Identity®, the leader of Identity Defined Security, today announced accelerating growth for its fiscal year ending December 31, 2015, as the company delivered more than 40 percent growth in annual recurring revenue for the year. The company saw broad-based growth across its product portfolio, particularly with its leading secure access and multi-factor authentication products and on-demand services as global enterprises flock to deploy Ping’s solutions for connecting users, applications and partners across web, mobile and API architectures. The acceleration in growth rates was also fueled by a strong contribution from EMEA, and a significant lift in enterprise customer adoption and product penetration across all major industries.

Ping Identity’s 2015 performance includes:

  • Strong growth rates: ARR growth of more than 40 percent, and an expectation to grow ARR to more than $100 million in 2016
  • Expansion of product portfolio that helped deliver higher deal sizes, particularly with Ping’s secure access and multi-factor authentication products (PingAccess and PingID), which now account for more than a quarter of total bookings
  • Nearly 50 percent of bookings from solutions to manage external identities: Rapid growth in solutions beyond employee identity management, including customer and partner solutions
  • Strong international performance, which contributed nearly 20 percent of bookings; The company also added new data centers in Germany and ANZ
  • Added 135 employees in 2015
  • Expanded offices in the Boston area, London, Tel Aviv and Vancouver, with additional expansion in San Francisco and Denver slated for early 2016


“As the traditional security perimeter dissolves, driven by the adoption of cloud and mobility, enterprise demand for cloud Identity Defined Security has never been greater,” said Andre Durand, CEO, Ping Identity. “We are experiencing a wave of migration away from traditional approaches to security and legacy IAM to Ping as enterprises demand stronger assurances for secure access in a lighter weight solution which can offer more flexibility and faster time to value."

The Ping Identity Identity Defined Security platform offers partner, customer and workforce solutions that secure identity access control and manage configuration and administration of identity. More than 1,500 enterprises rely on Ping Identity to deliver secure access to more than 1.3 billion identities, and the demand for these diversified solutions is growing quickly. Less than one year ago, over 90 percent of Ping Identity’s revenue came from single sign-on capabilities, but today one third of new annual contract value is derived from new capabilities of Ping’s Identity Defined Security platform including new multi-factor authentication, secure access control and cloud directory solutions. The company added to its growing list of enterprise customers, with more than 50 percent of the Fortune 100, one quarter of the Fortune 500 and the largest brands in financial services, healthcare and other highly regulated industries. New customers include Carmax, Delta Air Lines, Newell/Rubbermaid, Schneider Electric, and the Australian Capital Territory Government.

“The takeaway for 2015 was higher rates of efficient growth at scale, as Ping Identity invested meaningfully to drive growth, while managing the business at near break even levels,” said Michael Sullivan, CFO, Ping Identity. “As we approach the $100 million threshold in ARR, it was especially gratifying to see decreasing customer acquisition costs, brought about through better leverage of our sales and marketing engine and our back office.”

Ping Identity continues to push the industry forward with key initiatives that shape the identity and access management landscape. In 2015, some of the initiatives included:

  • Identity Defined Security Alliance: With industry leaders Netskope, ThreatMetrix and Airwatch/VMware, Ping Identity announced the Identity Defined Security Alliance. The alliance helps enterprises address every aspect of identity and access security, including authentication and directory services, threat and fraud detection services, cloud governance and enterprise mobility management, and provides blueprints and best practices for rapid deployment.
  • IDENTIFY Global Tour: The company recently hosted a series of events for executives and practitioners to share best practices for Identity Defined Security as a key enabler of digital enterprise transformation initiatives at global enterprises. More than 400 customers and partners attended the events in New York, San Francisco and London.
  • Google Apps for Work Integration: Ping Identity was named a member of Google’s “Recommended for Google Apps for Work” program. Together Google and Ping Identity provide joint enterprise customers a seamless Google Apps for Work experience by integrating applications with the Google login, providing secure access and single sign-on to enterprise applications running anywhere.
  • Cloud Identity Summit: The next Cloud Identity Summit (CIS 2016) takes place on June 6-9 at the New Orleans Marriott. Following last year’s successful event which saw nearly 1000 attendees, this year’s CIS will bring together industry thought leaders, CIOs, CISOs and IT practitioners together to discuss emerging trends and new developments required to deliver personalized, convenient, and secure digital experiences through identity. The r/evolution of enterprise security has begun. For more info on the 2016 event, please visit this link here.

About Ping Identity | The Identity Defined Security Company
Ping Identity is the leader in Identity Defined Security for the borderless enterprise, allowing employees, customers and partners access to the applications they need. Protecting over one billion identities worldwide, the company ensures the right people access the right things, securely and seamlessly. More than half of the Fortune 100, including Boeing, Cisco, Disney, GE, Kraft Foods, TIAA-CREF and Walgreens, trust Ping Identity to solve modern enterprise security challenges created by their use of cloud, mobile, APIs and IoT. Visit www.pingidentity.com.

 

 

 

 

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Jen Woods
Bateman Group
ping@bateman-group.com
415-503-1818

Ping Identity Announces Record Growth from Strong Enterprise Demand for Identity Defined Security