|By Business Wire||
|February 8, 2013 12:43 PM EST||
Ping Identity®, The Identity Security Company™, today announced it has been named one of America’s Most Promising Companies by Forbes Magazine. The Company was ranked #56 on the annual list of the top 100 privately held high-growth companies with bright futures. Recognized for record growth, product excellence and customer adoption, Ping Identity is the only identity security company to make the list.
“We’re thrilled to be recognized by Forbes,” said Ping Identity CEO Andre Durand. “We started Ping Identity on the wild idea that identity was central to unlocking amazing new business potential. Today that crazy idea is a reality as companies view identity as instrumental to cloud and mobile security. The customers and industry supporters who shared our vision have been invaluable to our success.”
Forbes’ list of America's Most Promising Companies features 100 privately held companies whose compelling business models, strong management teams, notable customers, strategic partners and precious investment capital have separated them as fast growing companies with impressive growth prospects. Ping Identity is listed as #56 on Forbes annual ranking of America’s Most Promising Companies. To view the complete list, please visit http://www.forbes.com/most-promising-companies.
This latest accolade continues the significant market momentum experienced by Ping Identity. The company recently announced significant record growth by adding more than 200 new customers in 2012, raising its total to nearly 1,000, including 45 of the Fortune 100, and adding 100 new SaaS vendors to its SaaS Partner Program, growing to more than 280.
About the Forbes Methodology
One metric never says it all. For the Most Promising list, FORBES strove for a holistic gauge of young, privately held companies, trying to pin down their trajectories by looking at a slew of variables. Over the course of six months FORBES reviewed thousands of applications. The final assessment is based on growth (both in sales and hiring), quality of management team and investors, margins, market size and key partnerships.
FORBES turned to CB Insights, a Manhattan-based data research firm that specializes in assessing private companies, to refine the search. Their MOSAIC software scans 45,000 sources to measure a company’s health. A new distribution deal, for example, marks a positive signal, while the loss of an executive is a negative. MOSAIC gathers those myriad signals into a final score that FORBES uses as an initial guide in producing the list. After verifying sales numbers, speaking with each company and debating their merits and blemishes, FORBES produces a final ranking.
About Ping Identity | The Identity Security Company
Ping Identity believes secure professional and personal identities underlie human progress in a connected world. Our identity and access management platform gives enterprise customers and employees one-click access to any application from any device. Over 900 companies, including 45 of the Fortune 100, rely on our award-winning products to make the digital world a better experience for hundreds of millions of people. Visit pingidentity.com for more information.
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