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ForgeRock

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ForgeRock, Inc.
Company typePrivate
NYSE: FORG (2021–2023)
IndustryEnterprise software
FoundedFebruary 2010; 14 years ago (2010-02) in Norway
Founders
  • Lasse Andresen
  • Steve Ferris
  • Jonathan Scudder
  • Victor Ake
  • Hermann Svoren
HeadquartersProvidian Financial Building,
San Francisco, California
,
United States
Area served
Worldwide
Key people
  • Fran Rosch (CEO)
  • John Fernandez (CFO)
  • Eve Maler (CTO)
ProductsForgeRock Identity Platform
RevenueIncrease US$218 million (2022)
Decrease US$−67 million (2022)
Decrease US$−66 million (2022)
Total assetsDecrease US$494 million (2022)
Total equityDecrease US$316 million (2022)
OwnerThoma Bravo
Number of employees
923 (December 2022)
Websiteforgerock.com
Footnotes / references
[1][2][3][4]

ForgeRock, Inc. is an identity and access management software company headquartered in San Francisco. On August 23, 2023, Thoma Bravo announced that it had completed the acquisition of the company for approximately $2.3 billion. Additionally, it has been reported that ForgeRock integrated into its portfolio the company Ping Identity.[5]

Overview

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ForgeRock was founded in Norway in February 2010 by a group of former Sun Microsystems employees, after Sun was acquired by Oracle Corporation. After the acquisition, the software was scheduled for phase-out in favor of Oracle’s in-house product,[6][7] so the founders "started their own company to fork the code and continue developing Sun’s software."[7][8][9]

In April 2020, ForgeRock announced that it has raised $93.5 million in funding, a Series E it will use to continue expanding, which "brings the total raised by the company to $230 million."[10] The company went public in September 2021. It is listed on the New York Stock Exchange under the ticker symbol FORG.[11] On October 11, 2022, private equity firm, Thoma Bravo, agreed to purchase ForgeRock for $2.3 billion in an all-cash deal.[12] After the acquisition was completed in August 2023, the new owner reported that ForgeRock would be integrated into its company portfolio Ping Identity.[5]

Products

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The ForgeRock Identity Platform includes Access Management (based on the OpenAM open source project), Identity Management (based on the OpenIDM open source project), Directory Services (based on the OpenDJ open source project), and Identity Gateway (based on the OpenIG open source project).[13] ForgeRock Access Management provides access management, ForgeRock Directory Services is an LDAP directory service, ForgeRock Identity Management is used for identity management, and ForgeRock Identity Gateway provides an identity gateway for web traffic and application programming interfaces (APIs).[14][15]

Originally based on open source software owned by Sun Microsystems (now Oracle Corporation), the enterprise version of the ForgeRock Identity Platform can only be accessed by purchasing a commercial license.[16] The source code of the community version is publicly available under the terms of the Common Development and Distribution License.[16]

See also

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References

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  1. ^ "ForgeRock, Inc. 2022 Annual Report". U.S. Securities and Exchange Commission. March 1, 2023.
  2. ^ "Eve Maler Named Chief Technology Officer at ForgeRock". Security Magazine. Michigan: BNP Media. 2020-03-15. Retrieved 2020-07-18.
  3. ^ Hautala, Laura (January 28, 2016). "It's Data Privacy Day. Do you know where your data is?". CNET. Retrieved August 15, 2016.
  4. ^ Mathew, Arun; Golden, Bruce (September 16, 2021). "ForgeRock: Identity at the Center of Everything". Accel.
  5. ^ a b Sriram, Akash (23 August 2023). "Thoma Bravo closes $2.3 bln deal to take software firm ForgeRock private". Reuters.
  6. ^ Vaughan-Nichols, Steven J. (May 10, 2010). "Sun open source reborn in ForgeRock". Computerworld.
  7. ^ a b "Digital identity company ForgeRock raises $93.5 million to develop enterprise cloud solution". Tech.eu. 21 April 2020. Retrieved 2020-06-08.
  8. ^ "ForgeRock aim to bring open source stack concept to IAM". 11 December 2012.
  9. ^ Novet, Jordan (8 April 2013). "Gigaom - ForgeRock grabs $15M to push access and identity management software". Archived from the original on 15 June 2018. Retrieved 29 July 2014.
  10. ^ "ForgeRock nabs $93.5M for its ID management platform, gears up next for an IPO". TechCrunch. Retrieved 2020-06-08.
  11. ^ Podder, Sohini; Hu, Krystal (2021-09-16). "ID management firm ForgeRock jumps in NYSE debut, valued at nearly $3 bln". Reuters. Retrieved 2021-09-17.
  12. ^ Miller, Ron (2022-10-11). "Thoma Bravo buys third identity company this year with $2.3B ForgeRock acquisition". TechCrunch. Retrieved 2022-10-11.
  13. ^ "Open Source IAM Solutions Maker ForgeRock Raises $15 Million - SecurityWeek.Com". 9 April 2013.
  14. ^ "ForgeRock Redefines Digital Identity Management with Enhanced Capabilities for The Internet of Things". MarketWired. April 3, 2017.
  15. ^ "ForgeRock Raises $30M for Open-Source Identity-Relationship Tech". eWeek. June 19, 2014. Retrieved August 15, 2016.
  16. ^ a b "ForgeRock has shuttered the open-source community, and no longer allows new development on their platform under a permissive license". timeforafork. June 1, 2017. Archived from the original on October 3, 2017. Retrieved June 1, 2017.
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