Chicago-based cybersecurity tech startup Keeper Security secures $60 million in growth funding
Keeper Security, a Chicago-based cybersecurity startup and a provider of the cybersecurity platform for preventing password-related data breaches and cyberthreats for businesses and individuals, 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.
Keeper said it will use the funding to further accelerate product innovation and development and catalyze expansion of the company’s global customer base of consumers and businesses. In conjunction with the funding, Keeper Security also announced tht Thomas Krane, Principal at Insight Partners, will join its Board of Directors.
Founded in 2011 by Craig Lurey and Darren Guccione, Keeper Security is transforming the way businesses and individuals protect their passwords and sensitive digital assets to significantly reduce cyber theft and mitigate cyber breaches. The startup is SOC 2 Certified and utilizes best-in-class encryption to safeguard its customers. Keeper partners with global OEMs and mobile operators to preload Keeper on smartphones and tablets. 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.
“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.”