ForgeRock Announces $88 Million in Series D Funding Led by Accel - Seite 2

Mike Ellis, CEO of ForgeRock, said: "ForgeRock is transforming the digital identity landscape by helping large organizations secure the identity of everything, build trusted, personalized relationships with their customers, and provide a seamless omnichannel experience - ultimately driving greater value and revenue. This investment speaks to significant market validation and our ambition to build a durable, category-defining company that shapes the future of identity, privacy and access management. The next 12 months will be exciting, as global regulatory frameworks for data and privacy are evolving rapidly, at the same time the IoT is reaching critical mass. ForgeRock empowers businesses to respond to and comply with these regulations and enable great digital customer experiences."

Arun Mathew, partner at Accel, said: "As the world becomes more automated and digitized with infinite ways to interact with customers, an entirely new industry has emerged - digital identity. ForgeRock is the pioneer in digital identity and is clearly leading the pack. We're impressed with the ForgeRock team and believe the company is the most well positioned to capitalize on the tremendous growth opportunities in digital identity and privacy management."

Dave Welsh, Head of TMT Growth Equity at KKR, said: "Mike Ellis and the ForgeRock team have done an outstanding job in delivering a premier innovative digital identity platform to a world-class roster of brand name customers, while growing the company with a strong culture dedicated to excellence. We are delighted to partner with the ForgeRock team in addressing an enormous, expanding global market in need of digital identity solutions, and to support them in their next stage of growth."

KKR has invested over $19 billion of equity in TMT-related private equity investments since 1983 and over $800 million in TMT-related growth equity investments since 2014, including in Optiv, Lyft, Ivalua, Cherwell Software, and Darktrace. KKR is making the investment from its TMT Growth fund, a fund dedicated to growth equity investment opportunities in the technology, media and telecommunications space.

The ForgeRock Identity Platform supports strategic digital identity use cases, specifically customer identity and access management (CIAM), the internet of things (IoT), and privacy and consent solutions for compliance with current and future regulations, including GDPR and Open Banking / PSD2. CIAM is a critical capability for all industries, including financial services providers, telecom, media, retail, manufacturing and many others, to cope with disruptive forces such as the consumer preference for buying products online and the need for new frictionless routes to market. Companies have increasingly recognized these market forces, and are deploying ForgeRock to dramatically improve the customer experience. IoT is already reshaping sectors from automotive and healthcare to shipping, housing and industry. At the same time, the newly emerging, constantly evolving regulatory environment will empower consumers with greater control over their personal data in ways likely to undermine many existing business models. Each of these initiatives alone represents a sizable and growing market opportunity. Together, these trends represent a massive opportunity for ForgeRock.