Keeper Security’s access management cybersecurity platform

Keeper Security is a Chicago, Illinois-based startup offering a cybersecurity platform for password management.

As the ongoing COVID-19 pandemic forces workers back into their homes, cybersecurity is becoming ever more essential for organisations. Passwords in particular are a point of extreme vulnerability, thanks to threats such as social engineering.

It is precisely this area in which Keeper Security specialises, providing encryption software that keeps passwords secure, targeted at both businesses and individuals.

Keeper said it had experienced growth despite the COVID-19-caused economic downturn, with thousands of businesses relying on its services worldwide. It maintains a 4.9/5 and a 4.6/5 rating for its app on the Apple App and Google Play stores respectively.

Founded in 2011, the company yesterday announced its first ever equity raise in a $60mn venture round led by Insight Partners.

In a press release, Darren Guccione, CEO and Co-founder of Keeper Security, said: "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.”

The company said it would use the funding to accelerate product innovation and global sales.

"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 Thomas Krane, Principal at Insight Partners. "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."