Ping Identity reports 31% growth & near USD $800m ARR

Ping Identity has announced a significant growth milestone, attaining 31% year-over-year Annual Recurring Revenue (ARR) growth of its Software as a Service (SaaS) offerings and nearing USD $800 million ARR.

The company has also reported a 33% year-to-date increase in new bookings. These achievements have further established Ping Identity's position as a prominent entity in the identity market. In recognition of its platform's capabilities, Ping Identity has been awarded the "Overall ID Management Solution of the Year" by the Cybersecurity Breakthrough Awards.

This performance comes on the heels of Ping Identity's integration with ForgeRock, marking their combined efforts to deliver enhanced value through Customer Identity and Access Management (CIAM) and workforce identity solutions. These offerings include fraud and risk protection, identity verification, decentralised identity, fine-grained authorisation, lifecycle management, and identity governance and administration. With these solutions in place, Ping Identity secures over 8 billion accounts globally, serving numerous Fortune 100 companies.

Chief Executive Officer and Founder of Ping Identity, Andre Durand, stated, "Now more than ever, identity is under attack – from the infrastructure to user accounts, and the data powering today's global businesses. As a result, the market realizes the dire need for a proven, comprehensive, and trusted identity partner that doesn't compromise security for an optimal user experience. We remain committed to ensuring our customers and partners have the best identity security offerings at a time when it's needed most."

Ping Identity's recent milestones also include the introduction of Helix, which is central to the company's secure, AI-powered identity strategy. The company currently operates in over 60 countries and employs close to 2,000 personnel. Furthermore, its product, PingOne for Workforce, was recently named a finalist in the "Security: Identity and Access Management" category of the 2024 CRN Product of the Year awards. Additionally, the Ping Identity Platform received a finalist nomination in the "Best Identity Management Solution" category at the 2024 SC Awards.

Monil Naicker, Director of Identity, Security and Access Management at Applied Materials, expressed satisfaction with Ping Identity's services, stating, "We use Ping Identity to give the right people the right access. We want to enhance productivity, so we make it as seamless as possible to get access to these services, while making it a secure environment. Ping Identity is a critical part of our authentication ecosystem. It helps us achieve access and identity where we need it the most."