ForgeRock, an open source vendor behind the I3 Open Identity Platform, has announced that it has raised USD$7 million in series A funding from global venture firm Accel Partners. ForgeRock selected Accel Partners after receiving a high level of interest from several of the world’s leading venture capital funds, it says. The announcement was made today, March 2.
“We were looking for investors with a track record of backing companies which subsequently come to define their category.” said Lasse Andresen, ForgeRock founder and CEO. “In Accel, we believe we have found the right partner to help ForgeRock define the Identity technology category globally. We will use the funds to build further on the market traction and dramatic global growth we have demonstrated over the past 2 years.”
ForgeRock offers open platform approach to Identity software. The I3 Open Platform offers customers a unified approach for their identity needs including: Authentication, Access Management, User Entitlements, Federation, Identity lifecycle management, provisioning and next generation LDAP identity repository, with multi-million user concurrency whether implemented on in-house, private or public cloud infrastructure.
With a functional breadth, ForgeRock says it differentiates by simplifying every deployment stage, from procurement to production, in order to maximise customer ROI.
“We think identity management is a crucial issue for most businesses as they struggle to deliver appropriate information and application support to employees, partners, and customers via a combination of datacenters, the cloud, PCs, and mobile devices. We were very impressed by the customer feedback we received about ForgeRock,” said Bruce Golden, partner, at Accel Partners.