ForgeRock builds an identity-management platform used to authenticate and authorize users and devices for large organizations. Its product set includes identity governance, directory services, privacy and consent controls, and the ForgeRock Identity Cloud. The company is investing in R&D and cloud services and is preparing its platform to consume decentralized and federated identity technologies over time. ForgeRock serves 1,100 enterprise customers that collectively manage about 2 billion identities through its platform. It reports annual recurring revenue and annual revenue both above $100 million. Customers include the BBC, Comcast, major banks, the European Union and several government organizations; the company was founded in Norway about a decade ago and is now headquartered in San Francisco while keeping significant staff and customers in Europe. ForgeRock offers an identity platform designed to handle massive-scale authentication for humans, machines and sensors, not just traditional user logins. The company emphasizes operating at device and gateway levels as well as on-prem and in cloud environments. Management says the product is built to support millions or even hundreds of millions of logons. ForgeRock reported over $100 million in sales in FY2016 and currently has around 400 employees, with plans to hire another 100–150 by year end. The company intends to expand its product offering and accelerate international expansion, with special attention to China. CEO Mike Ellis views the recent financing as a step toward an eventual IPO. ForgeRock has developed an open, unified, massively scalable identity relationship management platform to help organizations manage identities for people, devices and things. The company was founded in 2010 and is built on Sun Microsystems’ open-source identity projects; it has European roots (UK and Nordics) and now operates globally. ForgeRock positions itself against legacy vendors such as Oracle, CA and IBM and says it transformed identity from an internal, employee-centric technology to an external, customer-centric platform. Customers include Toyota, Thomson Reuters, GEICO, Yellow Pages Canada and McKesson, and it has a strategic partnership with salesforce.com. The company says sales are rocketing. It will use the new capital to build out product and marketing. ForgeRock develops the Open Identity Stack, a 100% open-source identity and access management platform designed to secure applications and services across private, hybrid, and public clouds as well as SaaS, mobile, and enterprise systems. The stack includes components such as OpenAM and OpenIDM and adds a unified REST API across the platform to build common identity services. The company plans to use new financing to fuel further development of the Open Identity Stack, grow sales, and continue global expansion. ForgeRock reports approximately 200 customers in less than three years and more than 300,000 downloads in over 135 countries. The company positions itself to support enterprise, cloud, social, and mobile identity use cases and to change relationships between businesses and their consumers. The new funding strengthens its financial runway, bringing total funding to $22 million. ForgeRock develops the I³ Open Identity middleware platform that provides a unified approach to enterprise identity management. Its platform supports authentication, access management, user entitlements, federation, identity lifecycle management, provisioning and more, and can be deployed in-house or in private/public cloud infrastructures. Product offerings include OpenAM (Access Manager) for authentication, SSO and cloud-enabled federation; OpenIDM for scalable identity lifecycle management and provisioning; and OpenDJ as a next-generation identity repository. The company serves a range of large customers across industries, including Thomson Reuters, BSkyB, Nokia Siemens Networks, AOL, Toyota, Vodafone, Nomura and BNP Paribas. ForgeRock announced a $7 million Series A investment from Accel Partners, which strengthens its financial position to continue product development and market expansion. The company positions itself to become a category leader in identity management, according to Accel.

Total raised

$234M

Funding rounds

5

Latest round

Series E

Latest activity

Apr 2020