Keeper Security Announces Investment from Summit Partners

Keeper Security, a provider of zero-trust and zero-knowledge cybersecurity software, announced that global growth equity firm Summit Partners has completed a minority investment in the company.

With this investment, Len Ferrington, managing director at Summit Partners, will join the Keeper Security Board of Directors.

The synergy between Keeper, Summit and existing investor Insight Partners will accelerate product innovation and catalyze strategic expansion of the company’s prominence as a cybersecurity leader in the public and private sectors.

Keeper has seen strong growth in its global operations since raising its last round of funding in August 2020. The company has added several hundred employees, acquired remote network access provider Glyptodon, expanded its industry certifications to include earning FedRAMP and StateRAMP Authorization, opened new data centers in Australia, Canada and Japan and expanded its partner ecosystem across the NorAm, EMEA and APAC regions.

Keeper doubled its revenue while maintaining strong gross margins and continued its trajectory with Q1 2023 marking the company’s strongest quarter on record.

The latest investment will accelerate Keeper’s growth and solidify the company’s position as an innovator in enterprise password management, secrets management, privileged connection management and privileged access management.

Keeper’s solutions include a suite of consumer and business offerings in password, secrets and privileged connection management, as well as differentiators including dark-web monitoring, secure file storage, single-sign on integration, compliance reporting and detailed event logging.

The company services organizations from small home offices to multinational enterprises and the largest public sector organizations.

Enterprises select Keeper because of its strong security architecture; ability to support federated and passwordless authentication with any identity provider; seamless integration into on-premises, cloud or hybrid environments; and ease of use across desktop and mobile devices.

Its latest offering, KeeperPAM, provides a next-generation privileged access management (PAM) solution that is disrupting the traditional PAM market. KeeperPAM delivers enterprise-grade password, secrets and privileged connection management within a unified SaaS platform that is cost-effective, easy-to-use and simple-to-deploy.

KeeperPAM enables least-privilege access with zero-trust and zero-knowledge security. Keeper’s cybersecurity solution is designed to enable complete visibility, security, control and reporting across every privileged user on every device within an organization.

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