ForgeRock, a San Francisco, CA-based digital identity solutions provider, completed a $93.5m Series E funding.
The round was led by Riverwood Capital with participation from existing investors Accel, Meritech Capital, Foundation Capital and KKR Growth. In conjunction with the funding, Riverwood Capital co-founder and managing partner Jeff Parks will join the ForgeRock board of directors.
The company, which has now raised more than $230m in total funding, intends to use the capital to invest in research and development, cloud, global sales and market awareness.
Led by CEO Fran Rosch, ForgeRock delivers modern and comprehensive Identity and Access Management solutions for consumers, employees and things to access the connected world. Using it, more than a thousand global customer organizations orchestrate, manage, and secure the complete lifecycle of identities from dynamic access controls, governance, APIs, and storing authoritative data – consumable in any cloud or hybrid environment.
In 2019, the company released ForgeRock Identity Cloud and added new products like Identity Governance and Autonomous Identity that use artificial intelligence and machine learning to allow customers to make smart identity decisions and create improved identity experiences for their employees and customers.
The company’s revenue is over $100m and its annual recurring revenue growth is 75%. The team includes more than 600 team members from offices around the world, including 140 in Bristol.