This article discusses the story of Ping Identity, an enterprise startup founded by Andre Durand in 2002. The company provides identity management solutions to enterprises, helping them secure their digital identities. After two decades at the helm, Durand has agreed to a deal with Thoma Bravo, a private equity firm, which will take the company private and help it achieve its goal of $1 billion in revenue in the next five years.
Here are some key points from the article:
- Ping Identity has grown rapidly under Durand’s leadership, with revenues reaching $72 million last quarter and a run rate of $288 million.
- The company’s plan is to get to $1 billion in revenue in the next five years, and with Thoma Bravo’s support, it may be able to achieve this goal faster.
- Durand remains engaged and passionate about his job, seeing an industry that is finally gaining recognition for its importance in security.
- The deal marks a significant exit option for enterprise startups, as private equity firms can provide capital and expertise to help companies grow and innovate.
Overall, the article highlights the success of Ping Identity under Durand’s leadership and the potential benefits of private equity investment for growing enterprises.
