Keyfactor Raises $77 Million from Insight Venture Partners
CLEVELAND, Jan. 22, 2019 /PRNewswire/ -- Keyfactor, a leading provider of secure digital identity management solutions, today announced that it has closed a $77 million growth funding round with Insight Venture Partners, a leading global venture capital and private equity firm focused on high growth technology and software companies.
Keyfactor will use the investment to continue its accelerating market expansion and meet the growing demand for its comprehensive suite of solutions, including Keyfactor Command (a complete and scalable certificate management platform) and Keyfactor Control (providing end-to-end identity security in the IoT lifecycle). The company has doubled revenue year-over-year and now secures more than 500 million certificates for Global 2000 clients worldwide.
"We're thrilled to join the Insight Venture Partners portfolio and look forward to exponential growth and innovation," said Kevin von Keyserling, Chief Executive Officer and Co-Founder at Keyfactor. "InfoSec professionals are challenged to fully anticipate and understand their cyber risk to continuously improve and scale their cyber defenses – and Keyfactor is committed to giving our customers the freedom to fully protect the next generation of applications and devices. This investment enables us to strengthen our leadership position as innovation partner to InfoSec professionals."
Founded in 2001 as Certified Security Solutions (CSS), Keyfactor recently rebranded in November 2018 to reflect the Company's goal of empowering global enterprises with the freedom to master every digital identity. The Keyfactor platform automates real-time discovery, monitoring, issuing and replacement of digital certificates and keys while blocking untrusted access.
"Keyfactor is a best-in-class technology solving a mission-critical problem for enterprise security and the Company's commitment to customers is unparalleled," said Michael Triplett, Managing Director at Insight Venture Partners. "Keyfactor's suite of solutions enables businesses to get ahead of today's threats while giving them the ability to scale and innovate for the future. We evaluated this segment thoroughly and chose to invest in the company that possessed clear technological leadership and is driving the greatest customer success."
"We serve the industries where trust and reputation matter most – including healthcare and financial services – and where innovative solutions provide competitive advantage," said John Harris, Chief Revenue Officer at Keyfactor. "Our significant growth and trust of our clients demonstrates we are on the right path, and having the backing of a pre-eminent investor like Insight Venture Partners gives Keyfactor additional muscle to continue our sector-leading innovation to the full benefit of our customers."
Keyfactor, formerly Certified Security Solutions (CSS), is a leading provider of secure digital identity management solutions that enables organizations to confirm authenticity, and ensure the right things are interacting in the right ways in our connected world.
From an enterprise managing millions of devices and applications that affect people's lives every day to a manufacturer aiming to ensure its product will function safely throughout its lifecycle, Keyfactor empowers global enterprises with the freedom to master every digital identity. Its clients are the most innovative brands in the industries where trust and reliability matter most.
About Insight Venture Partners
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide. Its mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Across its people and our portfolio, Insight Venture Partners encourages a culture around a core belief: growth equals opportunity.