ForgeRock Inc — Cyborg Score 7/10

Strong
Cybersecurity Software

Strategic Profile

ForgeRock is a provider of identity security solutions, offering a comprehensive platform for protecting user identities and securing digital interactions. The company enables businesses to have trusted digital relationships for improved personalized customer experience, allowing users to manage clientele identities across the cloud, on-premises and mobile.

Cyborg Score Rationale

ForgeRock commands a leading position in enterprise identity management with comprehensive product suite and significant market validation via $2.3B acquisition by Thoma Bravo (August 2023). Integration into Ping Identity strengthens competitive moat. However, status as private subsidiary post-acquisition and limited recent standalone financial visibility introduce some uncertainty.

Top Insights

  • Post-acquisition completion in August 2023, ForgeRock was integrated into Ping Identity portfolio, with both product portfolios continuing to be developed.
  • ForgeRock product suite spans Identity Management, Access Management, Identity Governance, and AI-powered Autonomous Identity capabilities.
  • The company serves a wide range of industries, including government, healthcare, financial services, retailing and telecom operators.
  • ForgeRock was founded in February 2010 by former Sun Microsystems employees, after Sun was acquired by Oracle Corporation.

Named Competitors

  • Okta Identity Cloud — Enterprise identity and access management platform
  • Auth0 — Identity platform for application developers
  • Microsoft Entra ID — Cloud-based identity and access management service
  • SailPoint Identity Security — Identity governance and administration platform
  • Delinea Privileged Access Management — Privileged access management and identity platform
  • JumpCloud — Cloud-native directory and IAM platform for modern workforces

Recent Developments

  • (August 2023) Thoma Bravo completed acquisition of ForgeRock for $2.3B and integrated it into Ping Identity subsidiary
  • (September 2021) ForgeRock went public on NYSE under ticker FORG at ~$3B valuation
  • (October 2022) Thoma Bravo announced agreement to acquire ForgeRock for $2.3B

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