How Much Did Keyfactor Raise? Headquarters, Funding & Key Investors

Keyfactor, founded in 2001 and based in Independence, Ohio, is a cybersecurity company delivering cloud-based PKI and machine identity management solutions. The company has raised $218 million in total funding, including $1M (Seed, 2009), $3.5M (Series A, 2014), $5.4M (Series B, 2015–2016), and $202M (Series C–E, 2019–2021). Its latest funding in October 2023, led by Sixth Street, brought its valuation to $1.3 billion. With 258 employees, Keyfactor’s platform automates digital trust and certificate lifecycle management across IoT, cloud, and multi-cloud environments.

How Much Did Keyfactor Raise? Funding & Key Investors

Keyfactor joined the Unicorn Club on October 24, 2023, after raising an undisclosed Series E funding round led by Sixth Street. The company is valued at $1.3 billion and has raised a total of $218 million to date. Keyfactor develops a cloud-based security platform that delivers trusted PKI (Public Key Infrastructure) and machine identity management solutions to help organizations secure devices, workloads, and applications across cloud and IoT environments.

What Is Keyfactor and What Does It Do?

Keyfactor, founded in 2001 by Kevin Von Keyserling and Ted Shorter, provides access to enterprise clients, cybersecurity talent, and partnerships within the Midwest’s growing tech corridor.

The company’s platform simplifies PKI and automates certificate lifecycle management, enabling organizations to establish digital trust at scale. With a team of 258 employees, Keyfactor’s identity-first protection approach addresses modern cybersecurity challenges in cloud, IoT, and multi-cloud ecosystems.

How Much Funding Has Keyfactor Raised?

1. Seed Round

Amount Raised: $1 million
Date: April 2009
Lead Investors: Not disclosed (angel investors).
Motivation: Early angel capital to support product development and initial go-to-market.

2. Series A

Amount Raised: $3.5 million
Date: March 2014
Lead Investors: Plymouth Growth Partners; Generation Ventures.
Motivation: Scale sales and engineering following commercial traction; formalized growth capital from regional growth investors.

3. Series B

Amount Raised: $5.4 million
Date: March 2015 - August 2016
Lead Investors: Plymouth Growth Partners; General Motors Ventures (listed among tranche investors).
Motivation: To support the company's rebranding and growth initiatives.

4. Series C / D / E

Amount Raised: $202 million
Date: January 2019 & April 2021
Lead Investors: Insight Venture Partners.
Motivation: Accelerate market expansion, M&A (notably the PrimeKey transaction announced alongside the 2021 capital), and product investment for machine-identity / PKI scale.

Total Funding Raised: $218 Million

Current Valuation: $1.3 Billion (as of Oct 2023)

Latest Funding Date: Oct 2023

Key Investors

1. Sixth Street

Details: Sixth Street is a global investment firm with over $70 billion in assets under management. It partners with companies across all stages to provide capital and strategic support.
Investment Focus Areas: Technology, financial services, healthcare, and energy.
Notable Investments: Airbnb, Spotify, Gainsight.

2. Insight Partners

Details: Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies.
Investment Focus Areas: SaaS, cybersecurity, DevOps, and digital infrastructure.
Notable Investments: SentinelOne, Wiz, Monday.com, Qualtrics.

3. Plymouth Growth

Details: Plymouth Growth is a growth equity firm that invests in B2B software and tech-enabled companies, helping them scale sustainably.
Investment Focus Areas: B2B SaaS, cybersecurity, and IT infrastructure.
Notable Investments: Service Express, Ability Commerce, OrthoFi.

Where Is Keyfactor’s Headquarters?

Keyfactor is headquartered in Independence, Ohio, United States, providing access to a strong technology talent pool, serving enterprise customers, and emerging as an innovative hub for cybersecurity in the Midwest.

What’s Next for Keyfactor?

Keyfactor is strategically positioned to expand its footprint in the machine identity and digital trust markets. With growing demand for secure IoT and cloud ecosystems, the company aims to leverage its Series E funding to enhance automation, strengthen partnerships, and scale its cloud-native platform globally.

As organizations increasingly adopt zero-trust frameworks, Keyfactor’s technology will play a pivotal role in securing every identity, whether human or machine, across digital environments.

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