Why We Invested · Foundation Capital
Investment thesis
The investor believes ForgeRock's platform can reshape the identity relationship management market.
I like ForgeRock’s platform and believe this company can re-shape the identity relationship management market.
Market
Growing device adoption and content consumption require identity management solutions to expand beyond traditional employee-centric models to scalable customer-centric models.
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.
Product
ForgeRock provides identity relationship management solutions built from Sun Microsystems' open source projects, supporting cloud or on-premise deployments across any device.
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.
Traction
ForgeRock serves enterprise customers across 30 countries, including Salesforce, Toyota, Thomson Reuters, GEICO, BNP Paribas, and government agencies.
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 four years, ForgeRock accumulated an end-user base numbering in the hundreds of millions.
Over a period of four years, they’ve built up a base of end users that’s in the hundreds of millions.
Team
ForgeRock's leadership team brings previous experience from SAP, Oracle, Apple, and Sun.
Its leaders have the experience and knowledge to do it. They come from innovative backgrounds at SAP, Oracle, Apple, and Sun.
Investment context
ForgeRock raised $30 million in its Series C funding round, bringing total capital raised to $52 million.
ForgeRock raised $30 million this time around, bringing its total funding to $52 million.
What founders can learn
- The traction evidence that carried weight: Foundation Capital wrote that ForgeRock serves enterprise customers across 30 countries, including Salesforce, Toyota, Thomson Reuters, GEICO, BNP Paribas, and government agencies.
- How the team was judged: Foundation Capital wrote that ForgeRock's leadership team brings previous experience from SAP, Oracle, Apple, and Sun.
- How the market was framed: Foundation Capital wrote that Growing device adoption and content consumption require identity management solutions to expand beyond traditional employee-centric models to scalable customer-centric models.
Source and provenance
Why We Invested published by Foundation Capital on foundationcapital.com (first-party source). Read the original
