San Francisco-based digital identity solutions provider ForgeRock announced Tuesday that it raised $93.5 million in its Series E funding round.
ForgeRock’s AI-powered platform helps companies manage their digital identity and security including access controls, directory services, governance and APIs. The company aims to offer tools for all identities and all use cases at a time when identity management is “mission critical” for businesses navigating our increasingly online lives.
“To be competitive today, companies need to deepen their relationships with their customers and improve the productivity and connectivity of their workforce,” ForgeRock CEO Fran Rosch said in a statement. “Completing this funding round in the current climate is a testament to the relevance of ForgeRock.”
The company plans on using its latest funding round to invest in global sales outreach, research and development, and cloud infrastructure. It also plans to make new hires as part of its growth strategy, though the company declined to disclose specific hiring plans.
The round was led by Riverwood Capital, along with existing investors Accel, Meritech Capital, Foundation Capital and KKR Growth.
ForgeRock has raised more than $230 million in total growth capital to date, according to the company. Its employee headcount currently stands at over 600 and the company’s services are used by some 1,100 enterprise customers including AutoZone, Toyota, Phillips and Geico.
