Total amount raised
$233.5 Millions
Latest funding date
4/1/2020
Location
ForgeRock has successfully raised significant capital through multiple funding rounds, attracting a diverse group of investors. The company's platform focuses on providing robust identity security solutions for digital enterprises.
Keep reading to delve into the details of ForgeRock's fundraising journey and the key investors supporting its innovative approach to identity security.
What Is ForgeRock?
ForgeRock, founded in 2010, is headquartered in San Francisco, California. The company was established by a group of identity and access management experts, including Lasse Andresen, Hermann Wimmer, and Jonathan Scudder.
Specializing in identity security solutions, ForgeRock aims to provide secure and seamless digital experiences for enterprises. Their platform is designed to manage and protect user identities across various digital channels.
With a workforce of over 700 employees, ForgeRock continues to innovate and expand its offerings in the identity security space.
How Much Funding Has ForgeRock Raised?
- Series E Round:
- Amount Raised: $93.5 million
- Date: April 2020
- Lead Investors: Riverwood Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in R&D, cloud infrastructure, global sales, and promotion of new and existing solutions, including AI tools.
- Series D Round:
- Amount Raised: $88 million
- Date: March 2017
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Typically for scaling operations, expanding market reach, and further product development.
Total Amount Raised: $181.5 million
Current Valuation: Not publicly disclosed
Key Investors
- Riverwood Capital
- Details: Riverwood Capital is a private equity firm that focuses on high-growth technology companies. They led ForgeRock's Series E funding round.
- Investment Focus Areas: Technology, software, digital media.
- Notable Investments: Globant, GoPro, Nutanix.
- Accel
- Details: Accel is a venture capital firm that invests in early and growth-stage technology companies. They have been an existing investor in ForgeRock.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Facebook, Dropbox, Slack.
- Meritech Capital
- Details: Meritech Capital specializes in late-stage venture capital investments. They are one of the existing investors in ForgeRock.
- Investment Focus Areas: Technology, software, healthcare.
- Notable Investments: Facebook, Salesforce, Snowflake.
- Foundation Capital
- Details: Foundation Capital is a venture capital firm that invests in early-stage technology companies. They have been supporting ForgeRock as an existing investor.
- Investment Focus Areas: Technology, fintech, energy.
- Notable Investments: Netflix, LendingClub, Sunrun.
- KKR Growth
- Details: KKR Growth is a global investment firm that focuses on growth equity investments. They are among the existing investors in ForgeRock.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: ByteDance, GoJek, Epic Games.
What's Next for ForgeRock?
ForgeRock stands at the cusp of significant growth opportunities, driven by the increasing demand for secure digital identity solutions. The global identity and access management market is projected to reach $22.68 billion by 2025, offering a substantial opportunity for ForgeRock to expand its AI-powered identity management tools and cloud infrastructure.
Future fundraising efforts could be on the horizon as ForgeRock seeks to capitalize on this market potential. The company’s recent success in raising $93.5 million indicates a strong investor interest, which could pave the way for additional rounds to support further innovation and global expansion.
However, challenges remain. ForgeRock must navigate a competitive landscape with rivals like Ping Identity and Auth0, while also ensuring robust security measures to protect user data. Maintaining its market leadership will require continuous innovation and strategic investments.
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