IPO - Profile

Summary

Offer Price Offer Size 3-Year Outlook Volatility First Day Turnover
$25.00 11,000,000 Positive High 95.26%

Offering Team

  • Legal counsel
  • Wilson Sonsini Goodrich & Rosati, P.C
  • Auditors
  • Ernst & Young LLP

Deal Highlights

We help make the digital economy possible. ForgeRock supports billions of identities to help people simply and safely access the connected world — from shopping and banking to accessing company networks to get their work done. We make this possible through a unified and extensive identity platform to enable enterprises to provide exceptional digital user experiences without compromising security and privacy. This allows enterprises to deepen their relationships with customers and increase the productivity of their workforce and partners, while at the same time providing better security and regulatory compliance. Digital identity is a massive and growing market and we believe we are well positioned to address this opportunity for the following reasons: We are a global identity leader. We estimate the global market opportunity for consumer, workforce, and IoT and services identity to be $71 billion. Digital identity has become a top priority for enterprises, and is viewed as a way to grow business and gain competitive advantage by enabling personalized, seamless, and secure omnichannel experiences. We are uniquely positioned to expand our share of this growing market by addressing emerging customer needs and by continuing to displace legacy, homegrown, and point identity solutions that cannot meet the functionality, performance, and scale that enterprises require. We are a next-generation cloud identity company. Our proprietary multi-tenant SaaS architecture with complete tenant isolation enables enterprise-grade data protection and performance. We maximize performance by not throttling or rate limiting individual customer environments, which can be critical for enterprises especially during large usage spikes such as Black Friday and Cyber Monday. Our platform is purpose-built for enterprises to create natural and frictionless identity experiences while providing capabilities to secure the enterprise in a Zero Trust environment. We are unique in the identity market due to the combination of: (1) our full suite platform that works for all kinds of identities, integrates with complex environments, and operates at high scale and performance; (2) the availability of our platform through multiple deployment options; and (3) our recognition as a market leader by premier industry analysts. We have a proven land-and expand business model. Our land-and-expand business model is centered on our ability to help our customers succeed and deliver on their value expectations. Our strong dollar-based net retention rate is further driven by our continuous investments in technology innovation and significant modular additions to our product portfolio. Once customers experience the benefits of our platform, they often expand their investments with ForgeRock in four different ways – through more identities, more use cases, more product modules, and more deployments. We have successfully sold our platform to a variety of C-suite level decision makers who are driving business transformation initiatives with increasing budgets year-over-year.

Deal Tracker

IPO Dates

Filing 15 Sep, 2021

Offer 16 Sep, 2021

Look Ahead

Lock Up Expiry Mar 16, 2022

IPO Terms

Offer Price $25.00
Offer Size 11M

Market Sentiments

Stock Price