AI fuels a $4.6T opportunity for service-as-software learn more
June 19, 2014
Foundation Capital
When I first met the ForgeRock team last year, I thought it was an answer to the prayers of many CIOs I know. It was in the midst of its Series B at the time. I invested in it.
A year later, I’m even more excited about the opportunities and potential at ForgeRock. I just participated in its Series C round of funding. ForgeRock raised $30 million this time around, bringing its total funding to $52 million. CEO Mike Ellis plans to use this money to develop new products and to expand ForgeRock’s international reach.
This nimble four-year-old company provides identity relationship management solutions tailored for today’s digital market. It has built out Sun Microsystem’s open source identity projects to work with any device or thing, as a multi tenant platform in the cloud or on site. ForgeRock has moved beyond traditional, employee-centric identity management software, and that’s a good thing. Given that we have more people using more devices and things to access more content than ever before, we need to ensure that the age-old concept of “who has access to what” keeps up. Ellis and his team are developing dynamic identity solutions designed for businesses that want to roll-out new customer-centric solutions that scale to support hundreds of millions of users and can move at the pace and speed of the Internet.
They already have customers in 30 countries. It’s an impressive list with companies like Salesforce, Toyota, Thomson Reuters, GEICO and BNP Paribas Investment Partners, and government agencies in Norway, Canada and the Vatican, among many others. Over a period of four years, they’ve built up a base of end users that’s in the hundreds of millions. And that number is only going to grow.
I like ForgeRock’s platform and believe this company can re-shape the identity relationship management market. Its leaders have the experience and knowledge to do it. They come from innovative backgrounds at SAP, Oracle, Apple, and Sun. They have a world class team that has proven they can build a global high growth business for the Cloud or On Premise market.
I’m so pleased to support ForgeRock. Congratulations!