Keyfactor raises over a billion dollars in strategic investments to develop trust infrastructure

Security threats and market needs

As businesses implement more interconnected ecosystems, including cloud services, Internet of Things (IoT) devices, and AI, the number of machine identities has sharply increased. In many organizations, machine identities exceed human identities, creating additional cybersecurity challenges.

Keyfactor emphasized that fragmented security systems cannot scale alongside the rise in machine identities. Its Trust Control Plane centralizes visibility across all certificates, cryptographic assets, and digital trust systems, automating lifecycle management and compliance.

Furthermore, demand is expected to grow as governments prepare for post-quantum cryptography. Recent policy initiatives are prompting organizations to begin replacing current encryption methods before quantum computing renders existing standards vulnerable.

Trends driving security

Andy Collins, Managing Director at Summit Partners, pointed to several trends that heighten the urgency of corporate security issues. These include certificate expiration shortening, stricter regulatory requirements, AI governance demands, and the shift to quantum-resistant cryptography.

Customer growth and expansion

Keyfactor enters a new phase of growth with financial stability. The company reported accelerated annual revenue growth and maintained profitability, serving billions of machine identities annually for over 2,500 clients in 150 countries.

Among these clients are half of the largest banks in the US and Europe, 80% of the largest retailers in the US, and 40% of Fortune 100 companies. By industry, Keyfactor's solution is widely used in financial services, healthcare, technology, telecommunications, and the public sector.

Earlier this year, the company received FedRAMP certification. This milestone allows federal agencies and government sector organizations to use its cloud platform for automating certificate lifecycle management, meeting government security requirements.

Colin Mistele, Managing Director at Summit Partners, believes that the increasing preparation for post-quantum standards opens significant long-term opportunities for businesses. He suggests that Keyfactor's ties with financial institutions and governments provide it with potential for international growth.

Investments and company future

The latest investment demonstrates growing interest in cybersecurity companies supporting artificial intelligence infrastructure. As enterprises adopt AI systems, connected devices, and automated workloads, the need to protect digital identities continues to grow.

Keyfactor offers an integrated platform covering certificate discovery, issuance, and continuous lifecycle management. The company asserts that this approach simplifies security operations and enhances resilience in complex corporate environments.

The investment also strengthens Summit Partners' position in the enterprise infrastructure software segment. Following the deal, Andy Collins and Colin Mistele will join Keyfactor's board of directors to support its next phase of expansion.