CHICAGO, Might 9, 2023 /PRNewswire/ — Keeper Safety (“Keeper” or the “Firm”), a number one supplier of zero-trust and zero-knowledge cybersecurity software program, in the present day introduced that international development fairness agency Summit Companions has accomplished a major minority funding within the Firm. With this funding, Len Ferrington, Managing Director at Summit Companions, will be part of the Keeper Safety Board of Administrators. The synergy between Keeper, Summit and current investor Perception Companions will additional speed up product innovation and catalyze strategic growth of the Firm’s prominence as a cybersecurity chief in the private and non-private sectors.
Keeper has seen robust development in its international operations since elevating its final spherical of funding in August 2020. The Firm has added a number of hundred new workers, acquired distant community entry supplier Glyptodon, expanded its {industry} certifications to incorporate incomes FedRAMP and StateRAMP Authorization, opened new knowledge facilities in Australia, Canada and Japan, and expanded its companion ecosystem throughout the NorAm, EMEA and APAC areas. Keeper doubled its income whereas sustaining robust gross margins and continued its trajectory with Q1 2023 marking the Firm’s strongest quarter on file. This newest funding will speed up Keeper’s development and solidify the Firm’s place as an innovator in enterprise password administration, secrets and techniques administration, privileged connection administration and privileged entry administration.
“Perception Companions is and has been a implausible companion that has helped us with go-to-market methods and finest practices. I’ve recognized Len Ferrington and the Summit workforce for a few years. They’ve deep expertise investing in cybersecurity and a shared ardour for the Keeper imaginative and prescient,” mentioned Darren Guccione, CEO and Co-Founding father of Keeper Safety. “I am excited in regards to the expanded perspective that each Perception and Summit will deliver to Keeper, supporting our distinctive workforce as we proceed to create and ship industry-leading know-how and innovation.”
“Whereas the present financial atmosphere has led to a contraction in lots of areas of know-how funding, the demand for safe and accessible cybersecurity options continues to speed up,” mentioned Len Ferrington, Managing Director at Summit Companions. “Summit has invested in safety software program for greater than thirty years. We’re impressed with the breadth of the Keeper product portfolio in addition to the Firm’s development, and we’re excited to see Keeper work to additional disrupt the cybersecurity {industry}.”
“We noticed nice potential in Keeper they usually’ve surpassed our expectations as a persistently high-performing firm within the {industry},” mentioned Thomas Krane, Managing Director at Perception Companions. “This strategic funding will elevate Keeper even additional, increasing its capacity to supply best-in-class cybersecurity options to organizations around the globe.”
Keeper was co-founded in 2011 by CEO Darren Guccione and CTO Craig Lurey as a password supervisor for cellular units. Since then, the Firm has developed a sturdy cybersecurity platform with a transparent deal with fulfilling vital unmet wants of the quickly rising id and entry administration market. Immediately, Keeper’s options embody a full suite of award-winning client and enterprise choices in password, secrets and techniques and privileged connection administration, in addition to differentiators together with darkish internet monitoring, safe file storage, single-sign on integration, compliance reporting and detailed occasion logging. The Firm companies organizations of all sizes from small house places of work to multinational enterprises and the biggest public sector organizations. Enterprises choose Keeper due to its robust safety structure; capacity to assist federated and passwordless authentication with any id supplier; seamless integration into on-premises, cloud or hybrid environments; and ease of use throughout desktop and cellular units.
Its newest providing, KeeperPAM™, offers a next-generation Privileged Entry Administration (PAM) resolution that’s disrupting the standard PAM market. KeeperPAM delivers enterprise-grade password, secrets and techniques and privileged connection administration inside a unified SaaS platform that’s cost-effective, easy-to-use and simple-to-deploy. KeeperPAM allows least-privilege entry with zero-trust and zero-knowledge safety. Keeper’s patented cybersecurity resolution is designed to allow full visibility, safety, management and reporting throughout each privileged consumer on each gadget inside a company.
Keeper is dedicated to sustaining the best requirements of safety by way of steady testing and auditing. Keeper holds the longest standing SOC 2 and ISO 27001 certifications within the {industry}. Keeper is GDPR compliant and CCPA compliant, PCI DSS licensed, FedRAMP and StateRAMP Approved, and licensed by TrustArc for on-line privateness. The Firm is persistently ranked as having the top-rated password administration platform in the marketplace. Keeper has a 4.9 out of 5-star score on the App Retailer and 4.6 out of 5-star score on Google Play, with greater than 250,000 mixed critiques.
Evercore served as monetary advisor to each Keeper Safety and Perception Companions. No different phrases of this personal transaction are being disclosed.
About Keeper Safety, Inc.
Keeper Safety is reworking cybersecurity for individuals and organizations around the globe. Keeper’s reasonably priced and easy-to-use options are constructed on a basis of zero-trust and zero-knowledge safety to guard each consumer on each gadget. Our next-generation privileged entry administration resolution deploys in minutes and seamlessly integrates with any tech stack to stop breaches, scale back assist desk prices and guarantee compliance. Trusted by tens of millions of people and 1000’s of organizations, Keeper is a pacesetter for best-in-class password administration, secrets and techniques administration, privileged entry, safe distant entry and encrypted messaging. Be taught extra at KeeperSecurity.com.
About Summit Companions
Based in 1984, Summit Companions is a worldwide various funding agency that’s at the moment managing greater than $36 billion in capital devoted to development fairness, mounted revenue, and public fairness alternatives. Summit invests throughout development sectors of the economic system and has invested in additional than 550 firms in know-how, healthcare and different development industries. Summit maintains places of work in North America and Europe and invests in firms around the globe. For extra data, please see SummitPartners.com or comply with Summit on LinkedIn.
About Perception Companions
Perception Companions is a worldwide software program investor partnering with high-growth know-how, software program, and web startup and ScaleUp firms which are driving transformative change of their industries. As of December 31, 2022, the agency has over $75B in regulatory property beneath administration. Perception Companions has invested in additional than 750 firms worldwide and has seen over 55 portfolio firms obtain an IPO. Headquartered in New York Metropolis, Perception has places of work in London, Tel Aviv, and Palo Alto. Perception’s mission is to seek out, fund and work efficiently with visionary executives, offering them with right-sized, right-time sensible, hands-on software program experience alongside their development journey, from their first funding to IPO. For extra data on Perception and its investments, go to InsightPartners.com or comply with on Twitter @InsightPartners.
