Ping Identity, the 11-year-old Denver company that provides secure cloud-ified single sign-on to half of the Fortune 100 and reportedly has its eye on going public next year, has raised a $44 million F round led by private equity house W Capital Partners, brought in to help with the IPO through its new board seat, and DFJ Growth, a Draper Fisher Jurvetson fund.
The money, which is more than Ping’s estimated $43 million in sales last year, is also coming from existing backers General Catalyst Partners, Draper Fisher Jurvetson, Avista Partners, Triangle Peak Partners, SAP Ventures and Appian Ventures. Besides the $29 million in equity financing there’s $15 million in debt financing complements of Silicon Valley Bank.