Keyfactor secures over $1 billion in funding to expand encryption management

Silicon Angle reports that Keyfactor, a provider of software tools for data encryption, has successfully raised over $1 billion in funding from the investment firm Summit Partners. This significant investment is intended to fuel the company's growth in securing cryptographic assets for enterprises, particularly in the evolving landscape of AI and post-quantum computing.

Keyfactor's platform, AgileSec, helps organizations manage and secure their encryption keys and other cryptographic assets like digital certificates. The software inventories encryption keys, identifies vulnerabilities such as outdated keys or weak algorithms, and detects hardcoded credentials. AgileSec uses lightweight sensors installed on devices and servers to collect data and prioritize risks. The company also offers EJBCA, a platform that allows businesses to act as their own certificate authorities. Command Center automates the renewal of digital certificates to prevent service disruptions.

Summit Partners Managing Director Andy Collins highlighted Keyfactor's end-to-end platform approach. Keyfactor plans to use the $1 billion investment to expand its workforce, develop new features, grow internationally, and pursue acquisitions.

Source: Silicon Angle