Keeper Security has today announced that global growth equity firm Summit Partners has completed a significant 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 further accelerate product innovation and catalyse 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 new employees, acquired remote network access provider Glyptodon, expanded its industry certifications to include earning FedRAMP and StateRAMP Authorization, opened new data centres 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. This 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.
“Insight Partners is and has been a fantastic partner that has helped us with go-to-market strategies and best practices. I’ve known Len Ferrington and the Summit team for many years. They have deep experience investing in cybersecurity and a shared passion for the Keeper vision,” said Darren Guccione, CEO and Co-Founder of Keeper Security. “I’m excited about the expanded perspective ..
Support the originator by clicking the read the rest link below.
