ForgeRock Announces $88 Million in Series D Funding Led by Accel

SAN FRANCISCO, CA--(Marketwired - Sep 5, 2017) - ForgeRock®, the leading platform provider of digital identity management solutions, today announced that it has closed an $88 million Series D funding round, led by Accel with participation from new investor, KKR. Existing investors, including Meritech Capital Partners and Foundation Capital, also participated. ForgeRock has now raised more than $140 million in growth capital since its founding. Arun Mathew, partner at Accel will join Accel partner Bruce Golden on the board of directors. Dave Welsh, Head of TMT Growth Equity at KKR, will also join the board.

Founded in 2010, ForgeRock achieved record sales of more than $100 million in FY2016. Accel led ForgeRock's Series A in 2012 and this latest funding round follows ForgeRock's significant growth over the last 12 months. The new funds will help to fuel the company's ongoing global expansion and product innovation, specifically to broaden the company's research and development efforts in further enhancing the ForgeRock Identity Platform. ForgeRock's global headcount surpassed the 400-employee mark early in 2017, and the company will aggressively hire to exceed 500 employees worldwide by year's end. ForgeRock continues to maintain a balanced global footprint, with approximately half of sales and headcount seated in the U.S., and half in the EMEA and APAC markets. With the new backing from Accel and KKR, ForgeRock looks to dramatically increase market awareness and sales coverage worldwide.

Digital identity is no longer just about people (employees, partners and customers). The Internet of Things (IoT) is driving rapid proliferation in connected devices, cars, homes and services. Creating secure, intelligent relationships through identity for people and devices is at the foundation of the Digital Economy. At the same time, businesses must adapt to a newly emerging regulatory environment that is giving consumers greater control over their personal data in ways that will have a major impact on existing business models. ForgeRock helps solve these problems by empowering organizations to manage all aspects of digital identity from one unified solution, transforming the way they control access and privacy and empowering trusted digital relationships, improving customer experience and driving growth.