Identity management software company Ping Identity acquired API security startup Elastic Beam for an undisclosed amount and launched a new product called PingIntelligence for APIs.
Last year Elastic Beam launched its flagship product, an artificial-intelligence (AI) powered software platform that blocks attacks on APIs. Gartner says attacks on APIs will be “the most-frequent attack vector resulting in data breaches for enterprise web applications by 2022.”
Elastic Beam’s technology can auto-discover all active APIs and provide deep visibility into all API activity.
Ping’s new product builds on this technology, as well as its own API security product, and uses AI to identify and block attacks targeting API infrastructures in public and hybrid clouds. It protects APIs from hackers without credentials who are probing for vulnerabilities to attack an enterprise’s data and systems. This includes data theft or destruction, API-specific distributed denial of service (DDoS) attacks, complete host takeovers, and attacks on authentication systems.
The product also provides insights into API traffic that can be used for compliance, audit, and forensic reports.
PingIntelligence for APIs is currently in private preview and will be generally available in the second half of 2018.
Ping, founded in 2002, was acquired by Vista Equity Partners in June 2016 for $600 million. It has raised $128.3 million in funding with its most recent Series G pulling in $35 million in September 2014.