Security Experts:

Identity Management Firm Keyfactor Raises $77 Million

Identity management solutions provider Keyfactor on Thursday announced that it raised $77 million in a growth funding round with venture capital and private equity firm Insight Venture Partners.

According to Keyfactor, which until November 2018 was known as Certified Security Solutions (CSS), the newly acquired funds will be used to accelerate its market expansion and meet the growing demand for its solutions.

The company offers Keyfactor Command, a complete certificate management platform, and Keyfactor Control, which provides end-to-end identity security solutions for IoT products.

Keyfactor says it secures over 500 million certificates for Global 2000 companies worldwide, and claims its yearly revenue has doubled.

“Keyfactor is a best-in-class technology solving a mission-critical problem for enterprise security and the Company's commitment to customers is unparalleled,” said Michael Triplett, managing director at Insight Venture Partners.

“Keyfactor's suite of solutions enables businesses to get ahead of today's threats while giving them the ability to scale and innovate for the future. We evaluated this segment thoroughly and chose to invest in the company that possessed clear technological leadership and is driving the greatest customer success,” Triplett added.

CSS had previously raised a total of roughly $10 million in several funding rounds.

Related: Identity-based Threat Detection Preempt Raises $17.5 Million

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Related: IAM Provider OneLogin Raises $100 Million

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Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.