We’ve reached an important milestone at ForgeRock that puts us another step closer to becoming the most important digital identity company in the market. I’m pleased to announce that we have secured an additional $93.5 million in Series E funding from Riverwood Capital and our existing investors.
It’s a momentous day not only for our partners, investors, and employees, but also for our customers—the more than 1,100 organizations counting on us more than ever in light of the global pandemic to make their employees 100% productive and their customers happy.
This fundraising comes on the heels of a transformational year where ForgeRock grew very quickly and crossed $100 million in ARR as we acquired over 200 new large enterprise customers. With enterprises looking to transition from legacy or point solutions to a modern identity platform for both workforce and consumer identity use cases, we are seeing accelerated growth.
While this is a moment to celebrate, we know the best is yet to come. This additional funding will enable us to infuse every aspect of the ForgeRock Identity Platform with the power of artificial intelligence (AI) so organizations can identify the actions that move the needle in order to make better, faster decisions. This new round will also support our cloud ambitions and turbo-charge our sales, marketing, and customer success organizations to take them to the next level.
We entered the category for digital identity in 2010. We are a leader in this fast-growing category today. We have a simple purpose that inspires our employees: help people safely and simply access the connected world.
ForgeRock created the industry’s first AI-powered identity platform built for any deployment option. Growing ahead of industry pace, we changed the traditional identity market by introducing the most comprehensive identity platform for consumers, workforce and things.
We are backed by the best. I’d like to welcome Riverwood Capital and Accenture Ventures to our mission, as well as thank existing investors, including Accel, Meritech Capital, Foundation Capital, and KKR Growth for their continued support. ForgeRock has now raised more than $230 million in growth capital since its founding and we believe that this will be our final fundraising prior to an IPO.
Finally, I’d like to thank our customers and partners. I know sectors like financial services, public sector, healthcare, media, and online retail are facing incredible pressures in the current climate. The ForgeRock team is prepared to step up and help keep your remote workforce productive and your customers happy as they shelter-in-place.
Thank you for your trust in ForgeRock. We are confident we have the team, the strategy, and the operational rigor to continue our successful journey and deliver for all our stakeholders.
*** This is a Security Bloggers Network syndicated blog from Forgerock Blog authored by Fran Roschn. Read the original post at: https://www.forgerock.com/blog/series-e-funding-marks-momentous-day-forgerock