Continued product innovation, expansion of executive team, and Series B funding leads to record market adoption for company’s open source identity and access management solution.
SAN FRANCISCO – September 10, 2013 – Demand for flexible and cost-effective next generation identity and access management (IAM) solutions has exploded due to the growth of the modern Web including public cloud, private cloud, hybrid cloud, and enterprise and mobile environments. ForgeRock Inc., the leading open platform provider of identity and access management (IAM) solutions, has capitalized on this market opportunity, announcing record revenue growth in both its North American and European markets.
“Through the course of this year, we have seen IAM security initiatives continuing to accelerate, with many companies looking for new consumer-facing identity and access management solutions that directly impact revenue,” said Mike Ellis, CEO of ForgeRock. “This evolution is making organizations take a fresh look at existing IAM options, which is leading many companies to ForgeRock’s highly scalable and agile open source platform. These customer wins have further expanded our enterprise client base, proving that our solution is enabling a broad set of use cases. It’s been a great year, and we believe our success is just the beginning of a new era for the company.”
2013 Year to Date Highlights:
- High-profile customer wins, such as Telefonica Solutions in Spain, Plus Retail in the Netherlands, GEICO in the ited States and Yellow Pages in Canada.
- 200% sales growth from Q2FY12 to Q2FY13.
- 100% sequential sales growth from Q1FY13 to Q2FY13.
- Average deal size has more than doubled between the first half of 2013 and the same period last year.
- Revenue distributed evenly between North America and European markets.
- Secured $15 million in a Series B round led by Foundation Capital, with additional participation from existing vestor Accel Partners. The company’s total funding to date is $22 million.
- Launched the first Identity Bridge built for cloud service providers, the ForgeRock Bridge Service Provider Edition PE), a new customizable on-premise appliance offered to cloud service providers to seamlessly integrate the user entities of their enterprise customers with the cloud services they offer.
- Appointed three new executives, Jamie Dudley as SVP Sales – Americas, Neil Weston as SVP Sales – International, and John Fernandez as CFO.
- Held first Open Identity Stack Summit in Pacific Grove, California in mid-June.
- First European Summit coming soon – France, October 14-16. Keynote speakers include Eve Maler, principal analyst, Forrester; co-creator XML; principal SAML development team and Pat Patterson, principal developer evangelist at Salesforce.com.
ForgeRock is redefining identity and access management for the modern web including public cloud, private cloud, hybrid cloud, and enterprise and mobile environments. ForgeRock products support mission-critical operations with a fully open source platform. ForgeRock’s Open Identity Stack powers solutions for many of the world’s largest companies and government organizations. For more information and free downloads, visit www.forgerock.com.