Cybersecurity platform provider for preventing password-related data breaches and cyber threats, Keeper Security announced the close of $60 million minority investment. The $60 million investment is Keeper Security’s first equity raise since its inception and led by global venture capital and private equity firm Insight Partners. The company stated that the partnership will accelerate product innovation and development.
Product innovation and development
As a result of the investment, Thomas Krane, Principal at Insight Partners, will join the company’s Board of Directors. Other terms of the private transaction will not be disclosed. 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. 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.”
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