Keeper Security Closes $60 Million in Growth Funding
Investment supports continued global expansion and positions Keeper to address critical, growing need for essential cybersecurity solutions
Trusted by over one million customers globally, Keeper will use funding to accelerate product innovation and global sales for its identity and access management solutions
CHICAGO, Aug. 17, 2020 /PRNewswire/ -- Keeper Security, provider of the highly-rated cybersecurity platform for preventing password-related data breaches and cyberthreats, today announced the close of a $60 million minority investment by global venture capital and private equity firm Insight Partners. This is Keeper Security's first equity raise since its inception.
The synergy of the Keeper Security-Insight partnership will further accelerate product innovation and development and catalyze expansion of the company's global customer base of consumers and businesses. Following the investment, Thomas Krane, Principal at Insight Partners, will join Keeper's Board of Directors. No other terms of this private transaction are being disclosed.
"The past four months have resulted in history's most pervasive cybersecurity challenge. As businesses have shifted their operations online and people have adapted to remote work and social distancing, cybercriminals have executed their attacks at record rates. It's forcing a rapid transformation and growth in the cybersecurity industry - one that is essential to safeguard people and businesses," said Darren Guccione, CEO and Co-founder of Keeper Security. "With the support of Insight Partners and the planned synergy, we're well-positioned to bring new, unique and increasingly critical cybersecurity solutions to new and existing customers, globally."
Over the past year, Keeper has experienced rapid growth and expansion, adding another 120 team members and adding significantly to its global business and consumer customer footprint. Despite the global economic downturn created by COVID-19, Keeper has accelerated its growth.
"As the lines blur between where we live and where we work, businesses and consumers look to Keeper for critical cybersecurity protection. The value that Keeper provides to its customer base has never been clearer," said Krane. "Keeper's impressive growth and business stability, despite the global pandemic, is driven by its ability to deliver products that exceed their customers' needs and expectations. We look forward to supporting Keeper in its continued growth."
Millions of consumers and thousands of businesses in over 100 countries trust Keeper for password security, as well as dark web monitoring, secure file storage, single-sign on integration and security-event reporting. Keeper is consistently ranked as the top-rated password management platform on the market. Keeper has a 4.9 out of 5-star rating on the Apple App Store and 4.6 out of 5-star rating on Google Play, with over 200,000 combined reviews. Further, Keeper has received numerous industry awards and highest ratings for its business and enterprise password management platform.
"Keeper's award-winning, enterprise-grade security and encryption architecture combined with our best-in-class user experience is trusted by millions since Darren and I founded the company in 2011," said Craig Lurey, CTO and Co-founder of Keeper Security. "With Insight Partners, we look forward to continuing to deliver best-in-class product innovation that addresses the needs of our business, government, and individual customers for years to come."
To learn more about Keeper Security's individual, family or business products, please visit https://keepersecurity.com.
About Keeper Security, Inc.
Keeper Security, Inc. (Keeper) is the highly-rated and patented cybersecurity platform for preventing password-related data breaches and cyberthreats. Keeper's zero-knowledge security and encryption software is trusted by millions of people and thousands of businesses across the globe to mitigate the risk of cybertheft, boost employee productivity and meet compliance standards. Keeper has been named PC Magazine's Best Password Manager of the Year & Editors' Choice, PCWorld's Editors' Choice and is the winner of four G2 Best Software Awards and the InfoSec Award for Best Product in Password Management for SMB Cybersecurity. Keeper is SOC-2 and ISO 27001 Certified and is also listed for use by the U.S. federal government through the System for Award Management (SAM). Learn more at https://keepersecurity.com.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
SOURCE Keeper Security, Inc.