Fueling Groundbreaking Innovation Across the Digital Identity Landscape
We entered 2020 with a strong focus on what’s next in the digital identity landscape and a strategy aimed at turbo-charging our plans to infuse cloud and artificial intelligence into every aspect of the ForgeRock Identity Platform. Just recently, our ambitious plans got some extra fuel.
As most of you are aware, we recently announced a $93.5 million Series E round of fundraising led by Riverwood Capital. This infusion of capital will enable us to fund our investment in key innovations that will continue to help our customers drive exceptional experiences for their workforces, consumers, and things.
Identity is what makes digital access possible. It’s our passport to the digital world. If organizations do it well, they can reap significant business benefits. And, if they do it poorly, it can actually be detrimental to their business.
At ForgeRock, we are dedicated to helping people access the connected world safely and simply. We firmly believe that identity done right is a force multiplier for positive business outcomes – like delivering better user experiences that will help increase customer loyalty and conversion rates and improve employee productivity, providing stronger security and privacy, reducing risk and improving compliance, and cutting costs.
Now, more than ever before, as organizations work toward realigning how they conduct business in the face of a global pandemic, identity is foundational to their success today and in the future. As renowned technology investor Mary Meeker points out in her recent report on the economic and social impact of COVID-19, companies that have transitioned to digital are in the best position to emerge from the current crisis in a position of strength. We have always believed that identity is mission-critical. And today, as organizations are preparing for a post-pandemic comeback and the new normal we are well positioned to help them succeed.
With that in mind, let’s take a look at how ForgeRock’s product strategy supports the accelerated pace of digital transformation – unlike any other vendor in this space.
First, ForgeRock’s full-suite, comprehensive identity offering is unique in the industry. The ForgeRock Identity Platform unifies a set of advanced technologies – identity management, access management, directory services, user-managed access, edge security, and identity gateway – in a cohesive way to address the needs of any organization at any stage of maturity. We will continue investing significantly in our core platform, which serves as the identity fabric that enables new business and digital services while integrating with your legacy IAM systems and applications.
Second, we are investing heavily in artificial intelligence (AI). We have a unique, differentiated vision of AI as an enabler of autonomous identity and access management. In essence, our platform leverages AI to predict, provision, and protect good access and to detect, prevent, and remediate bad access. All this is done with high confidence and in ways that can be interpreted and explained.
The third pillar of our product strategy is the cloud. When it comes to the cloud, our customers will have freedom of choice. Whether it’s their cloud, a third-party cloud platform, or our cloud, they will derive the same benefits from ForgeRock technology. An extension of our vision for the cloud is our market-first identity platform as a service solution. With this round of funding, we will continue to invest in ForgeRock Identity Cloud, which provides our full-suite, comprehensive identity offering as a service, making it easier for organizations to solve more use cases with a single solution rather than having to stitch together different point products.
This latest round of funding during an unprecedented time in recent history underscores the fundamental contribution ForgeRock is making to the advancement of a safe, easy-to-access digital world. We pledge to continue to drive innovation and support the digital transformation of our customers and their users.
Read the recent press release announcing our series E funding.