ForgeRock Is Now a Public Company
ForgeRock launched in 2010 to help build a future where people could simply and safely access the connected world. At the heart of the company is the belief that better access to what you want to achieve online can transform business and change lives.
Today, our team is taking an important step together that will further our mission. We are now a public company, trading on the New York Stock Exchange under the symbol FORG.
We Are Building a Passwordless Society
If you are investing in us, you are investing in our vision for a world where you never have to login again. No more passwords, no more usernames, no more secret questions. In fact, our aim is to create identity experiences for people at work, at home, or on the go that are so simple and secure that two things happen: Identity recedes into the background completely, and our customers become more secure than ever before. They no longer have to worry about fraudulent account takeovers or identity breaches.
The need for companies to digitally transform their business is more important than ever – creating a huge market for identity companies like ForgeRock. When you look around, you see our lives have moved increasingly online: banking, shopping, entertainment, healthcare, government services, and more. Identity serves as the front door between you and these services.
We believe that ForgeRock is positioned to be a winner in this exciting market. We are purpose-built to scale and perform for enterprises and our integrated platform manages all kinds of identities: consumers, employees, partners, things, and services. Our customers leverage our platform to cover the full identity lifecycle: identity and access management (IAM), multi-factor authentication (MFA), and fine-grain authorization, as well as governance and entitlement management. And, we give our customers choice on whether they want to run their identity services in their private cloud or the public cloud of their choice or leverage the ForgeRock Identity Cloud.
Powerful examples exist of how ForgeRock technology has served as the catalyst for driving business transformation at some of the world’s most important brands. One of my proudest moments since joining as CEO was how we were able to step up to help our customers when the COVID-19 pandemic hit in March 2020. A story that I often share is about how we helped one of our customers seamlessly handle a 300% increase in their digital banking traffic as their customers rapidly moved online during the first few weeks of the pandemic. The ability to keep their “doors open” for business meant their employees and customers could still connect to what they needed and remain safe.
Why Is ForgeRock Going Public Now?
We’ve been a successful company with rapid growth. Our annualized recurring revenue (ARR) grew 30% year over year as of June 30, 2021, underscoring the strength of our business. Being a publicly traded company will help us grow into the company we need to become in order to advance our mission.
We’ve already achieved some tremendous things over the past decade. We have grown into a team of more than 750 ForgeRockers and operate in approximately 50 countries worldwide. We serve more than 1,300 customers, and we’re the only digital identity vendor in 2020 to be recognized as a leader by the three leading industry analyst firms covering our space: Gartner, Forrester, and KuppingerCole.
I joined ForgeRock three years ago because I wanted to be a part of the team that fixed identity on the Internet. Together, we’ve rolled up our sleeves and started where we saw the greatest need: to end the forced compromise between amazing digital experiences and security. We work with some of the greatest companies on the planet to build identity journeys that are frictionless for their users while providing security and privacy and reducing fraud. This enables our customers to deepen the relationships with their customers and increase the productivity and connectivity of their employees and partners – without compromising security.
We’re excited about the opportunity ahead of us. We have ambitious goals, and it’s going to take a lot more ForgeRockers to help us reach them. Being a public company will give us the resources and visibility needed to keep hiring people we affectionately call identity geeks and strengthening the ForgeRock Identity Platform.
What Does This Mean for ForgeRock’s Future?
While we have many opportunities, we know we have to execute with precision every single day. We will strive to continue to drive growth and deliver value to our customers, our partners, our employees, and our investors by being incredibly focused, while building towards our long-term vision in parallel.
Our mission and our customers will remain our North Star. We will remain equally passionate about listening to and learning from our customers. Some of our most successful product features, like our no-code authentication trees, continue to get stronger and provide new value because of developer and community feedback. This customer-first approach remains our driving force and will give us tangible insights as we pursue the wide array of opportunities ahead.
ForgeRockers, your hard work, dedication, and commitment is inspiring and have driven our growth over the years. We wouldn't have made it to this day without you. Our customers, partners, advisors, and investors who have worked side by side with us to get us to this point are what makes ForgeRock so special. To everyone who wore ForgeRock gear, told their peers to give us a try, or cheered us on, your invaluable contribution is not lost on us. You are the spirit of ForgeRock.
I want to sincerely thank every one of you. While we are proud of how far we have come, having grown from a product borne out of the open-source community with just a few people to a cloud company going public, today is simply another important milestone for us. This marks the start of a new chapter at ForgeRock, one that we believe will change lives. Our mission, values, commitment to improving access to the connected world, and dedication to our customers will continue to fuel us over the long run. I’m thrilled to have you with me as we continue our journey.