ForgeRock, the leading provider in digital identity, raised $93.5 million in Series E round of fundraising. Riverwood Capital led this latest round of financing with participation from ForgeRock’s existing investors, Accel, Meritech Capital, Foundation Capital, and KKR Growth
Fremont, CA: ForgeRock, the leading provider in digital identity, raised $93.5 million in Series E round of fundraising. Riverwood Capital led this latest round of financing with participation from ForgeRock’s existing investors, Accel, Meritech Capital, Foundation Capital, and KKR Growth. ForgeRock has now raised more than $230 million in growth capital since its launch. Riverwood Capital co-founder and managing partner Jeff Parks will join the ForgeRock board of directors, as part of the event.
ForgeRock plans to invest the proceeds of the round in areas such as research and development, cloud, global sales, and market awareness so that it can advance growth and continue empowering its customers to develop exceptional digital identity experiences for their workforces, consumers, and things. The company will continue to invest in ForgeRock Identity Cloud, aimed at making it easier for enterprises to scale by offering a full range of cloud deployment options to their customers.
“To be competitive today, companies need to deepen their relationships with their customers and improve the productivity and connectivity of their workforce. ForgeRock is the only AI-driven platform that empowers organizations to create amazing digital experiences for both workforce and consumer segments as well as things,” said ForgeRock CEO Fran Rosch. “Increasingly, our platform is becoming mission-critical to the largest organizations in the world, and we take our responsibility seriously to deliver on their expectations. This has become even more pronounced as remote work, and E-commerce has surged in the wake of the COVID-19 pandemic. Completing this funding round in the current climate is a testament to the relevance of ForgeRock.”
“ForgeRock’s comprehensive platform is very well-positioned to capitalize on the enormous opportunity in the Identity & Access Management market,” said Jeff Parks, co-founder and managing partner of Riverwood Capital. “ForgeRock is the leader in solving a wide range of workforce and consumer identity use cases for the Global 2000 and is trusted by some of the largest companies to manage millions of user identities. We have seen the growth acceleration and are thrilled to partner with this leadership team.”