Chicago tech company Keeper Security just hauled in $60 million in its first outside fundraise since the company was founded nine years ago.
Keeper, a cybersecurity company that develops a password management platform, announced the $60 million minority investment was led by Insight Partners. Thomas Krane, a principal at Insight Partners, is joining the company's board as part of the investment.
Keeper says it has grown quickly throughout 2020 despite the coronavirus. As businesses face an increase in cybercrime amid the shift to work from home and other Covid-related chaos, companies are turning to Keeper for password security, dark web monitoring, secure file storage and other cybersecurity needs. In May Keeper said it hit one million paying customers.
"The past four months have resulted in history's most pervasive cybersecurity challenge," Darren Guccione, CEO and co-founder of Keeper Security, said in a statement. "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."
Founded in 2011, Keeper has customers in more than 100 countries, including millions of consumers and thousands of businesses. The company says it has added 120 people to its team over the last year.
