PING - Ping Identity launches $50M venture capital fund to support identity security startups

Ping Identity (NYSE:PING) on Tuesday announced the launch of Ping Ventures, a $50M venture capital fund aimed at supporting identity security startups. The fund will be an "in-house corporate venture arm providing capital and guidance to startups building the next generation of identity and access management solutions", PING said in a statement. Ping Ventures will invest in early stage, high-growth technology firms that will expand support for PING's product portfolio. The fund's technology focus will include online fraud and risk services, real-time identity verification, identity and data access governance, decentralized identity, machine identity, experience automation, and dynamic authorization and entitlement. Ping Ventures will also provide startups with PING's hybrid portfolio of products and services, as well as access to experts and industry standards architects. PING also announced the fund's initial investment in Allthenticate, a unified access control and authentication firm.

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Ping Identity launches $50M venture capital fund to support identity security startups