By Dave Welsh Sep 05, 2017
Devices all around us are getting connected to the internet -- everything from kitchen appliances to street lights to medical devices. Billions of devices, in fact, at an estimated growth rate of 20 percent per year. All of these devices need to be identifiable so that access, data, security, communications and a host of other functionality can occur. And as networks swell with more of these things, security vulnerabilities grow exponentially. Enter ForgeRock.
ForgeRock provides the identity and access software that manages and protects the relationships between devices, people, and services.
Today we announced our investment in ForgeRock's $88 million Series D funding round, an investment we are particularly excited about because ForgeRock's solutions have become critical software for companies around the world. They enable these businesses to protect their assets from people and devices that shouldn't have access to them and yet still provides access and data sharing for those that should. And ForgeRock's platform can scale to handle billions of devices, critically important for the Internet of Things where low cost, low power devices proliferate.
ForgeRock CEO Mike Ellis and his superb management team have created a great recurring revenue model where growth is strong. By focusing on the broad landscape of devices, people and things, ForgeRock has maximized its available market, separating themselves from competitors who stick to just a portion of the market. And, with data privacy and regulatory frameworks changing all over the world, ForgeRock is in a position to help businesses adapt and improve their compliance capabilities.
Since the company's founding seven years ago, ForgeRock supports hundreds of corporate and government customers, securing billions of identities worldwide. There's more to come for ForgeRock and we look forward to participating in its growth, helping to secure the increasing number of connected devices all around us.