Cloud-based identity management provider Ping Identity has acquired pre-Series A startup Elastic Beam.
Ping Identity has released a new product based on Elastic Beam’s technology, which uses artificial intelligence to monitor APIs for compromise.
The product, PingIntelligence for APIs, monitors all API activity within an IT environment, including both internally- and externally-facing APIs, and uses AI to detect and respond to anomalous activity. It also produces information for use in compliance, audit and forensic reports.
Some of the biggest enterprise breaches over the past year were a result of API vulnerabilities, proving every enterprise and cloud provider needs a comprehensive API cybersecurity strategy.
– Andre Durand, CEO, Ping Identity
“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 delivering API security to global organizations with market leading products like PingFederate and PingAccess,” said 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.”
In addition to the use of Elastic Beam’s technology in the new product, Elastic Beam co-founders Bernard Harguindeguy and Uday Subbarayan have joined the company. Respectively they have taken on the roles of SVP, Intelligence and Head of Engineering, AI & API.
The financial terms of the deal were not disclosed.
“APIs are innovation enablers, but they also have a security blindspot,” said Harguindeguy. “While they are 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.”
He added: “We’re thrilled to be a part of Ping Identity, a company that places equal weight on the importance of this growing issue. Integrating Elastic Beam into Ping Identity delivers a strong, intelligent security solution for APIs that simply has not existed until now.”
APIs are innovation enablers, but they also have a security blindspot.
– Bernard Harguindeguy, co-founder, Elastic Beam; SVP, Intelligence, Ping Identity
PingIntelligence for APIs is currently in private preview, and only available to select customers. The company intends to make it generally available in the second half of 2018.
According to Ping Identity’s press release, it is the first company to leverage AI in a comprehensive security solution for API infrastructures in public and hybrid clouds.
Durand went on to say, “API security is a strategic first activation of intelligent identity for Ping. Some of the biggest enterprise breaches over the past year were a result of API vulnerabilities, proving every enterprise and cloud provider needs a comprehensive API cybersecurity strategy. The API security problem is massive, and we’re delighted to offer such a valuable solution to our enterprise customers.”