On the Identiverse convention in Boston right this moment, Ping Identity introduced that it has acquired Elastic Beam, a pre-Collection A startup that makes use of synthetic intelligence to watch APIs and assist perceive once they have been compromised.
Ping additionally introduced a brand new product, PingIntelligence for APIs, based mostly on the Elastic Beam know-how. They didn’t disclose the sale worth.
The product itself is a fairly nifty piece of know-how. It robotically detects all of the API IP addresses and URLs operating inside a buyer. It then makes use of synthetic intelligence to seek for anomalous habits and report again when it finds it (or it could possibly robotically shut down entry relying on the way it’s configured).
“APIs are outlined both within the API gateway as a result of that facilitates creation or applied on an utility server like node.js. We created a platform that would deliver a degree of safety to each,” firm founder Bernard Harguindeguy instructed TechCrunch.
It might look like an odd match for Ping, which in any case, is an enterprise identification firm, however there are affordable connections right here. Maybe the most important is that CEO Andre Durand desires to see his firm making growing use of AI and machine studying for identification safety typically. It’s additionally price noting that his firm has had an API safety product in its portfolio for over 5 years, so it’s not an enormous stretch to purchase Elastic Beam.
With this buy, Ping has not solely acquired some superior know-how, it has additionally acqui-hired a workforce of AI and machine studying consultants that would assist inject your complete Ping product line with AI and machine studying smarts. “No one ought to be shocked who has been watching that Ping will drive machine studying AI and basic intelligence into our identification platform,” Durand mentioned.
Harguindeguy definitely sees the potential right here. “I feel we are able to over time deliver a excessive degree of monitoring and intelligence to Ping to know whether or not an identification might have been utilized by another person or being misused in some way,” he mentioned.
Harguindeguy will be part of Ping Id as Senior Vice President of Intelligence alongside along with his complete workforce. Neither firm would reveal the precise variety of staff, however Durand did acknowledge it fell someplace between the 11 and 50 talked about in the company Crunchbase profile. The unique workforce consisted of round 10 based on Harguindeguy and so they have been hiring for a while, so truthful to say greater than 11, however lower than 50.
Harguindeguy says they have been pursued by a couple of firm (though he wouldn’t say who these different firms have been), however he felt that Ping offered a great cultural match for his firm and will take them the place they wished to go quicker than they may on their very own, even with Collection A cash.
“We realized that is going to be actually large. How can we go after the market actually strongly actually quick? We noticed that we may fuse this actually quick with Ping and have sturdy go to market with them,” he mentioned.
Durand acknowledged that Ping, which was itself acquired by Vista Equity Partners for $600 million two years in the past, couldn’t have made such an acquisition with out the backing of a bigger agency like this. “There was there was no probability we may have executed both UnboundID (which the company acquired in August 2016) or Elastic Beam on our personal. This was purely an artifact of being a part of the Vista household portfolio,” he mentioned.
PingIntelligence for APIs, the product based mostly on Elastic Beam’s know-how, is at present in non-public preview. It ought to be usually obtainable a while later this 12 months.