ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ -- IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...
|By Marketwired .||
|June 19, 2014 08:00 AM EDT||
SAN FRANCISCO, CA -- (Marketwired) -- 06/19/14 -- ForgeRock Inc., the leading open platform provider of identity relationship management (IRM) solutions, announced today that it has received $30 million in its oversubscribed Series C round of funding. Meritech Capital Partners led the round and existing investors Accel Partners and Foundation Capital also participated. As part of the investment, Paul Madera, co-founder and managing director of Meritech, will be joining ForgeRock board of directors. The latest round brings the company's total funding to $52 million. Building on the momentum of a banner year, the investment will accelerate disruptive product development and innovation, and increase ForgeRock's global market share via expanded sales and marketing efforts.
Founded in 2010 and built on Sun Microsystems' market-leading open-source identity projects, ForgeRock recognizes that customer-centric organizations require a new type of identity platform to harness the explosion of users, applications, devices, and "things" and the numerous relationships between them. Unlike traditional niche solutions focused on a portion of the required capability or traditional legacy suites comprised of bundles of products thrown together, ForgeRock developed the first and only open, unified, massively scalable identity relationship management platform purpose-built for delivering customer-facing solutions to any device or "thing," on-premises or in the cloud. Today, ForgeRock has more than half a billion end users of its IRM solution in 30 countries and five continents.
Success, Growth and Momentum
ForgeRock grew sales by 305 percent from 2012 to 2013, driven by increased customer demand and interest from key verticals including healthcare, insurance, finance and government. Key customer wins include Toyota, Thomson Reuters, GEICO, Yellow Pages Canada and McKesson. During the last year, ForgeRock also established a strategic partnership with salesforce.com, contributing to the company's growth and reach globally.
The swell of Fortune 1000 enterprise and government customers deploying ForgeRock IRM solutions has led to a 166 percent increase in average deal size year-over-year. Sales grew quarter-over-quarter 112 percent from Q1FY13 to Q1FY14, continuing the quarter-to-quarter growth the company has maintained since inception. Sales and customer count also continue to grow evenly between the North American and international markets.
ForgeRock was voted one of the Best Places to Work in 2013 by the San Francisco Business Times. The company was also recognized by AlwaysOn as one of the OnDemand Top 100 winners for its disruptive technology and leadership in its category.
ForgeRock sees companies struggling to manage and control digital identities everywhere. Illustrating the magnitude of this challenge, a Forrester survey showed that enterprises reported a median of only 101 to 1,000 partner identities and 1,001 to 10,000 employee identities -- but 500,001 to 5,000,000 consumer identities -- within their organizations. ForgeRock's platform meets this challenge. It is purpose-built for internet scale, enabling products and services like the connected car, eGovernment and healthcare wearables, among others.
"ForgeRock is pioneering IRM globally. With a brilliant team, exceptional growth and an expanding number of partnerships, the company has quickly moved from its European origins to become the worldwide category leader," said Bruce Golden, partner at Accel Partners. "In just two years, ForgeRock has established a global footprint with headquarters in the U.S. and sales and support operations to assist customers anywhere they do business."
"The winners and losers in today's digital world will be determined by how they approach the issue of identity as they develop new offerings," said Warren Weiss, general partner, Foundation Capital. "Those that utilize an identity platform like ForgeRock's can quickly respond to the needs of their business. They can roll out new services to any device or thing more quickly than their competitors, and will have a distinct advantage in the market."
"ForgeRock helps companies take visionary ideas and transform them into applications that can be delivered across any device or thing, harnessing the power of identity," said Paul Madera, co-founder and managing director, Meritech Capital Partners. "ForgeRock's high-scaling, flexible, open-source platform changes market dynamics by helping companies develop new revenue streams with better customer engagement in today's connected world."
"The IAM industry is undergoing a huge shift from IAM to IRM, and ForgeRock is leading the charge," said Alex Ott, owner and founder of CrossContinentalVentures, a global provider of advisory services to entrepreneurs and ForgeRock board member. "The company recognized this shift early and is creating a disruption in the market by extending the value of identity where legacy vendors have failed to innovate. With ForgeRock's open source approach, organizations can create a seamless experience when developing customer-focused services across users, applications, devices and things."
"Oracle, CA and IBM's IAM products fail to meet the demands of today's digital enterprise. Their inability to seamlessly manage identities, at scale, across devices, people and things puts enterprise customers at risk and leads to missed opportunities," said Mike Ellis, CEO, ForgeRock. "ForgeRock understands the customer relationship is more important now than ever before. We are causing a disruption in the market by securely enabling new revenue-driving business opportunities for our customers. Our large customer user-base includes many of the leaders in their respective industries and is a validation of ForgeRock's innovation and impact on their businesses."
ForgeRock Blog on Series C Funding (http://forgerock.com/series-c/)
ForgeRock Customers (http://forgerock.com/customers/)
ForgeRock Open Identity Stack (http://forgerock.com/what-we-offer/open-identity-stack/)
ForgeRock Identity Relationship Management (http://forgerock.com/irm/)
ForgeRock on Twitter (https://twitter.com/ForgeRock)
ForgeRock on Facebook (https://www.facebook.com/pages/ForgeRock/101648653214231)
Founded in 1983, Accel Partners has a long history of partnering with outstanding entrepreneurs and management teams to build world-class businesses. Accel today invests globally using dedicated teams and market-specific strategies for local geographies, with offices in Palo Alto, New York City, London and Bangalore.
Accel has helped entrepreneurs build over 300 successful companies, many of which have defined their categories, including Alfresco, Angry Birds (Rovio), Atlassian, Cloudera, ComScore, Dropbox, Facebook, Gameforge, Groupon, Imperva, Kayak, Playfish, QlikTech, Spotify, Supercell, Varonis and Wonga.
About Foundation Capital
Foundation Capital is dedicated to the proposition that one entrepreneur's idea, with the right support, can become a business that changes the world. Foundation Capital has helped companies like Atheros create the mobile Internet, EnerNOC invent the energy demand response market, and Netflix revolutionize media distribution and consumption, among many others. Foundation Capital is currently invested in more than 80 high-growth ventures in the areas of consumer, information technology, software, semiconductors, and clean technology including BoardVantage, Chegg, Coverity, Lending Club, MobileIron, Simply Hired, Sunrun, TubeMogul and Venafi. Foundation Capital's 22 IPOs include Control4, Envestnet, Financial Engines, Netflix, NetZero, Responsys and Silver Spring Networks. For more information, visit http://www.foundationcapital.com.
About Meritech Capital
Meritech Capital Partners is one of the premier providers of late-stage venture capital to category-defining private technology companies and one of the top performing venture funds in the entire industry. With over $2.6 billion under management, Meritech invests in companies with proven and differentiated technology, massive market opportunities, accelerating revenue and experienced management teams. With one of the most prominent venture portfolios Meritech has a wealth of experience providing guidance on issues rapidly scaling companies commonly face including senior management hiring and compensation, IPO market timing and positioning, and M&A negotiating strategies. Meritech investments include such notable companies as Acclarent, BigFix, Broadsoft, Box, Cloudera, Cornerstone OnDemand, Evernote, Facebook, Fortinet, Greenplum, Lynda.com, Netezza, NetSuite, PopCap, Presidio, Riverbed, Ruckus Wireless, Salesforce.com, Sourcefire, SpringSource, Tableau Software, TeleAtlas, Yammer, Zipcar and Zulily. For more information visit www.meritechcapital.com.
ForgeRock, the fastest growing identity relationship management vendor in the world, is building secure relationships across the modern Web. Focused on using online identities to grow revenue, extend reach, and launch new business models, ForgeRock's Open Identity Stack powers solutions for many of the world's largest companies and government organizations. Founded in 2010, ForgeRock's leadership team brings 80 combined years of experience in the software industry and includes open source icons and innovators, with investors from two of the leading global venture capital firms -- Accel Partners and Foundation Capital. For more information and free downloads, visit http://www.forgerock.com or follow ForgeRock on Twitter at http://www.twitter.com/forgerock.
Nov. 20, 2014 03:30 PM EST Reads: 267
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Nov. 20, 2014 03:30 PM EST Reads: 882
Focused on this fast-growing market’s needs, Vitesse Semiconductor Corporation (Nasdaq: VTSS), a leading provider of IC solutions to advance "Ethernet Everywhere" in Carrier, Enterprise and Internet of Things (IoT) networks, introduced its IStaX™ software (VSC6815SDK), a robust protocol stack to simplify deployment and management of Industrial-IoT network applications such as Industrial Ethernet switching, surveillance, video distribution, LCD signage, intelligent sensors, and metering equipment. Leveraging technologies proven in the Carrier and Enterprise markets, IStaX is designed to work ac...
Nov. 20, 2014 03:15 PM EST Reads: 571
C-Labs LLC, a leading provider of remote and mobile access for the Internet of Things (IoT), announced the appointment of John Traynor to the position of chief operating officer. Previously a strategic advisor to the firm, Mr. Traynor will now oversee sales, marketing, finance, and operations. Mr. Traynor is based out of the C-Labs office in Redmond, Washington. He reports to Chris Muench, Chief Executive Officer. Mr. Traynor brings valuable business leadership and technology industry expertise to C-Labs. With over 30 years' experience in the high-tech sector, John Traynor has held numerous...
Nov. 20, 2014 03:00 PM EST Reads: 664
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades.
Nov. 20, 2014 01:00 PM EST Reads: 1,462
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
Nov. 20, 2014 12:30 PM EST Reads: 1,781
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
Nov. 18, 2014 09:00 PM EST Reads: 2,173
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.
Nov. 18, 2014 08:15 PM EST Reads: 1,519
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada. Our partner network encompasses some 300 of the world's leading systems integrators and security s...
Nov. 18, 2014 08:15 PM EST Reads: 1,436
IoT is still a vague buzzword for many people. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. He also discussed how IoT is perceived by investors and how venture capitalist access this space. Other topics discussed were barriers to success, what is new, what is old, and what the future may hold. Mike Kavis is Vice President & Principal Cloud Architect at Cloud Technology Pa...
Nov. 18, 2014 01:30 PM EST Reads: 2,124
Smart devices that use wireless technology to exchange information with each other and with their human owners: this is the Internet of Things (IoT). This incredible level of connectivity is already transforming how we exercise, treat diseases, park our cars and access business documents. Research firm IDC projects that the IoT world of connected devices will grow to 200 billion objects by 2020. As more businesses, entrepreneurs and government entities embrace the IoT, more data will be generated daily than the already mind-boggling 2.5 quintillion bytes of data per day. However, even curren...
Nov. 15, 2014 02:00 PM EST Reads: 1,713
The Industrial Revolution in the 18th to 19th centuries was a period during which predominantly rural societies in Europe and America became industrial and urban. Advances in steam technology, transportation, mass production and the telegraph collectively transformed industry and society. Today, the Internet of Things (IoT) has the potential to once again transform industry and society just as the Industrial Revolution did. Analyst firm IDC forecasts that the IoT market will grow to $8.9 trillion by 2020 with anywhere between 30 to 50 billion connected autonomous things, making the potential g...
Nov. 15, 2014 12:00 PM EST Reads: 1,785
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world. The next @ThingsExpo will take place November 4-6, 2014, at the Santa Clara Convention Center, in Santa Clara, California. Since its launch in 2008, Cloud Expo TV commercials have been aired and CNBC, Fox News Network, and Bloomberg TV. Please enjoy our 2014 commercial.
Nov. 13, 2014 05:00 AM EST Reads: 3,591
From a software development perspective IoT is about programming "things," about connecting them with each other or integrating them with existing applications. In his session at @ThingsExpo, Yakov Fain, co-founder of Farata Systems and SuranceBay, will show you how small IoT-enabled devices from multiple manufacturers can be integrated into the workflow of an enterprise application. This is a practical demo of building a framework and components in HTML/Java/Mobile technologies to serve as a platform that can integrate new devices as they become available on the market.
Nov. 10, 2014 12:30 PM EST Reads: 2,726
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Nov. 10, 2014 12:00 PM EST Reads: 6,080
Located in booth #314, the Bsquare team will present DataV demos and discuss how DataV will help customers put their data to work to improve business outcomes. DataV is unlocking new initiatives across a wide landscape of customers in industries such as industrial manufacturing, transportation, retail and mobile. The solution is designed to complement a new project start or help to enrich an existing machine investment.
Nov. 6, 2014 03:15 PM EST Reads: 2,403
The Physical Web incorporates beacons that can be put in any small retail store, for example, so that every store now has "an app" for its customers. In this Birds-of-a-Feather session at Internet of @ThingsExpo, Scott Jenson, Product Designer at Google, will discuss the Physical Web and how it is an open standard so any device can broadcast a URL wirelessly, so any phone/tablet/watch nearby can see, and rank those devices. When the user taps on one, they just go to that web page. It's really that simple. It's about thinking small, enabling micro-information (what is in my prescription bottle...
Nov. 3, 2014 05:00 PM EST Reads: 2,579
BSQUARE is a global leader of embedded software solutions. We enable smart connected systems at the device level and beyond that millions use every day and provide actionable data solutions for the growing Internet of Things (IoT) market. We empower our world-class customers with our products, services and solutions to achieve innovation and success. For more information, visit www.bsquare.com.
Nov. 3, 2014 03:00 PM EST Reads: 3,557
Whether you're a startup or a 100 year old enterprise, the Internet of Things offers a variety of new capabilities for your business. IoT style solutions can help you get closer your customers, launch new product lines and take over an industry. Some companies are dipping their toes in, but many have already taken the plunge, all while dramatic new capabilities continue to emerge. In his session at Internet of @ThingsExpo, Reid Carlberg, Senior Director, Developer Evangelism at salesforce.com, to discuss real-world use cases, patterns and opportunities you can harness today.
Nov. 3, 2014 02:30 PM EST Reads: 2,814
SYS-CON Events announced today that AgilePoint, the leading provider of Microsoft-centric Business Process Management software, will exhibit at SYS-CON's 2nd International @ThingsExpo which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. AgilePoint is the leading provider of Microsoft-based Business Process Management (BPM) software products, has 1,300+ on-premise and cloud deployments in 25+ countries and provides the same advanced BPM feature set as J2EE vendors like IBM and Appian for the Microsoft .NET native environment. AgilePoint customer...
Nov. 3, 2014 11:00 AM EST Reads: 3,125