ForgeRock Secures $30M for IRM Product Development, Innovation

Identity relationship management (IRM) platform provider ForgeRock yesterday announced it raised $30 million in an oversubscribed Series C funding round led by investment firm Meritech Capital Partners.

Existing ForgeRock investors Accel Partners and Foundation Capital also participated in the Series C round.

ForgeRock provides Open Identity Stack, an IRM platform that is designed for cloud, enterprise, mobile and social systems.

Mike Ellis, ForgeRock’s CEO, said his company plans to use the Series C funds to accelerate its IRM product development and innovation and expand its global sales and marketing efforts.

“ForgeRock understands the customer relationship is more important now than ever before. We are causing a disruption in the market by securely enabling new revenue-driving business opportunities for our customers. Our large customer user-base includes many of the leaders in their respective industries and is a validation of ForgeRock’s innovation and impact on their businesses,” Ellis said in a prepared statement.

The new investment brings ForgeRock’s total funding to $52 million, according to the company.

Meritech Capital Partners co-founder Paul Madera will join ForgeRock’s board of directors as part of the new investment as well.

ForgeRock said it has more than 500,000 end users in 30 countries that currently leverage its IRM platform.

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