April 11, 2013
ForgeRock, a start-up San Francisco based company, provider of identity and access management software, closed yesterday $15 million series B round of funding. The venture capital funding was led by Foundation Capital and Accel Partners, a prior investor of the company.
Accel Partners was the investor that led the series A round of funding and offered $7 million in 2012. Bruce Golden declared that they are looking forward to helping the company to continue with the expansion of its global presence and disrupt the traditional approaches to IAM by developing a new IAM architecture that solves the existing challenges in the enterprise.
ForgeRock has almost 200 clients in over 135 countries. The company wants to offer a simplified, manageable, scalable and capable fully working solution. ForgeRock proved once again that this is the best way to do it. The round of financing means continuing growth possibilities for a strong identity product which is designed mainly for enterprise situations in evolving infrastructures.
Bruce Golden, partner at Accel Partners said that the companyâ€™s success in securing 200 customers in less than 3 years and over 300,000 downloads is the leading open identity and access management stack on the market.
Mike Ellis, Chief Executive Office with ForgeRock also said that in this round, it was important that the company partners with investors that understand the profound transformation currently taking place in the identity market and the huge chance arising from this change. With Accel Partners and Foundation Capital they found this fit.