IPO ForgeRock

ForgeRock developed software for identity and secure access management to corporate networks. The Identity Platform includes a full suite of identity governance and AI-powered autonomous identity capabilities and helps organizations verify consumers, enterprises, and IoT devices.

Medium risk. Expected return – over 40%.

ForgeRock is recognized as a leader by both Forrester, Gartner and KuppingerCole in the customer identity and access management market.

The company serves over 1,300 organizations around the world, including many of the world’s leading enterprises across various sectors, from government to financial services. BBC, Deloitte, Allianz, BNP Paribas, Vodafone, Phillips, Comcast, and many others are among its clients.

The global identity as a service market was an estimated $3.34 billion in 2019 and is forecast to reach $16 billion by 2027. This represents a forecast very strong CAGR of 22.0%. The main driver for this expected growth is digital transformation that requires user identity and secure access to a company’s data. ForgeRock estimates its total global addressable market for identity services at $71 billion.

ForgeRock plans to offer 11 million shares at a price range of $21 to $24. As a result, the company valuation will go up to $1.9 billion. Morgan Stanley, J.P. Morgan, Deutsche Bank, Mizuho Securities, and HSBC are acting as underwriters on the deal. Its market capitalization in the public market may hit $4-5 billion.

You can apply for this investment until September 14, 19:00 UTC+3.