Ping Identity, a provider of identity security solutions, has purchased API cybersecurity company Elastic Beam.
Elastic Beam offers an AI-powered behavioural analytics solution that automatically detects and stops threats that use APIs to gain control of systems and data. The solution can autodiscover all active APIs to make sure that none are forgotten or overlooked, and delivers deep visibility into all API activity.
With this new solution, Ping Identity said it will enable businesses to recognise and respond to rapidly changing, dynamic attacks which target API vulnerabilities—without predefined policies or security rules.
“We believe that adding intelligence based on machine learning analytics to the Ping Identity Platform is the next wave of identity security. For years, Ping has been a leader in this market through our PingFederate and PingAccess solutions,” commented Andre Durand, CEO of Ping Identity.
“This acquisition extends our leadership by providing a comprehensive intelligence-based approach to API security. As an industry, it’s critical that we make decisions based on the ever-changing nature of context and behavior versus pre-defined policies that attempt to capture when, where and why a user is trying to access something.”
The Ping Identity Platform allows enterprises and their users to securely access cloud, mobile and on-premises applications while managing identity and profile data at scale
Industry directives such as PSD2 and Open Banking have accelerated the use of APIs. As a result, APIs have become a new and growing security risk for all organizations by making it easier for hackers and others to reach into applications and data they expose.
Ping’s platform, PingIntelligence for APIs, is designed to address this growing market need and protect enterprise and cloud customers from the increasing threat of API-targeted attacks. It provides deep insight into how APIs are used or misused, and delivers information for compliance, audit and forensic reports. It also delivers threat protection across a range of attacks from hackers without credentials probing for vulnerabilities to attacks on data and systems, while appearing like a normal user.
Bernard Harguindeguy, founder of Elastic Beam and SVP, Intelligence at Ping Identity, said: “APIs are innovation enablers, but they also have a security blindspot. While they’re the primary channel for business transactions, their ubiquity and connectedness to sensitive data make them a prime target for bad actors. Elastic Beam was built to address this vulnerability.”
Prior to being acquired by Vista Equity Partners in June 2016, Ping had raised a total of $128 million in funding and counts Draper Fisher Jurvetson, General Catalyst Partners, and Silicon Valley Bank among its investors.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
