ForgeRock, which provides security identity management software to enterprises, raised $275 million by offering 11 million shares at $25, above the range of $21 to $24.
ForgeRock states that it has built a modern digital identity platform with a differentiated SaaS architecture and identity object modeling approach that allows enterprises to secure, manage, and govern the identities of consumers, employees and partners, APIs, microservices, devices, and IoT. Its identity platform provides a full suite of identity management, access management, identity governance, and AI-powered autonomous identity solutions. Its platform is able to support over 60,000 user-based access transactions per second per customer, and more than 1,300 organizations around the world leverage its platform to manage over three billion identities in aggregate.
ForgeRock plans to list on the NYSE under the symbol FORG. Morgan Stanley, J.P. Morgan, Deutsche Bank, Mizuho Securities, and HSBC acted as joint bookrunners on the deal.
