Digital identity provider ForgeRock has completed a $93.5 million Series E funding round led by Riverwood Capital.

Existing investors, including Accel, Meritech Capital, Foundation Capital and KKR Growth, also participated. Riverwood Capital co-founder and managing partner Jeff Parks will join the board of directors.

ForgeRock has now raised more than $230 million in growth capital since its founding, with more than 1,100 organisations now using the ForgeRock Identity Platform.

The company will invest in research and development, cloud, global sales and market awareness in order to accelerate growth. It will also continue to invest in ForgeRock Identity Cloud.

Chief executive Fran Rosch commented: “Increasingly, our platform is becoming mission critical to the largest organisations in the world, and we take our responsibility seriously to deliver on their expectations.

"This has become even more pronounced as remote work and e-commerce has surged in the wake of the COVID-19 pandemic - completing this funding round in the current climate is a testament to the relevance of ForgeRock.”

In 2010 fewer than 50 people worked at ForgeRock; today more than 600 team members contribute from offices around the world. In 2019, the company released a wave of new capabilities aimed at serving the needs of companies looking to replace their legacy or homegrown systems with a more modern platform. Identity Governance and Autonomous Identity both use machine learning to help customers make smarter identity decisions and create better identity experiences for their employees and customers.

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