[prev in list] [next in list] [prev in thread] [next in thread]
List: isn
Subject: [ISN] Denver-based Ping Identity gets $35 million investment boost
From: InfoSec News <alerts () infosecnews ! org>
Date: 2014-09-19 15:58:00
Message-ID: alpine.DEB.2.02.1409191557480.10214 () infosecnews ! org
[Download RAW message or body]
http://www.denverpost.com/business/ci_26556583/denver-based-ping-identity-gets-35-million-investment
By Laura Keeney
The Denver Post
09/18/2014
Recent data breaches at high-profile companies such as Home Depot and
Goodwill Stores have thrust Internet security back into the spotlight, and
one local company is on the verge of a giant leap forward in the mission
to make data safer.
Denver-based Ping Identity is expected to announce early Thursday a $35
million investment boost, led by global investment firm KKR and newcomer
Ten Eleven Ventures, which also includes some of Ping's existing
investors. This investment brings Ping's total funding to $110 million.
This latest shot in the arm is recognition that data security is a hot
topic. It's also a nod to Ping's identity and access-management technology
— generally called "single sign-on" — that goes above and beyond
traditional password-based approaches to data security, said Ping's senior
marketing director Jeff Nolan.
"Companies have an appetite for the kind of change we've been talking
about for years because the cost of a data breach is far greater than the
cost of replacing the old infrastructure that allowed it in the first
place," he said. "There's independent research that shows something like
76 percent of those data breaches are the result of a compromised
password. The solution here is not better passwords but getting rid of the
password altogether."
[...]
--
Evident.io - Continuous Cloud Security for AWS.
Identify and mitigate risks in 5 minutes or less.
Sign up for a free trial @ https://evident.io/
[prev in list] [next in list] [prev in thread] [next in thread]
Configure |
About |
News |
Add a list |
Sponsored by KoreLogic