$125M Growth Round Fuels Keyfactor and PrimeKey Merger
First-Ever Merger Between Certificate Automation and Certificate Authority Providers Set to Impact IAM Strategy for Enterprises
Keyfactor is the pioneer of PKI as-a-Service (https://www.keyfactor.com/
The merger forms an industry-first machine identity management platform, combining Keyfactor's certificate lifecycle automation with PrimeKey's EJBCA.
"Now more than ever, enterprises must operate in a zero trust world, and machine identity management can no longer be ignored as part of an identity and access management (IAM) strategy," explained Jordan Rackie, CEO at Keyfactor. "Keyfactor's 50% year-over-year growth is a testament to the industry's imperative to secure every machine identity before it leads to loss of brand reputation, business outages or fines. The merger with PrimeKey amplifies the performance of the combined businesses across product offerings, distribution channels, expertise for our customers and large open source communities."
Machine identity management was introduced by Gartner in its Hype Cycle for Identity and Access Management Technologies, 2020 (https://www.gartner.com/
"Our combined solutions now give customers unparalleled deployment choices including PKI as-a-Service, SaaS PKI (Azure, AWS, GCP), software appliance or FIPS 140-certified hardware," explained Magnus Svenningson, CEO at PrimeKey. "These flexible deployment options give our customers the control to operate a single pane of glass across all their machine identities in hybrid and multi-cloud environments. Our EJBCA, SignServer and Bouncy Castle solutions are widely adopted by the developer community to integrate security in DevSecOps workflows and will remain open source as we continue to bring cutting-edge innovations to our enterprise customers."
PrimeKey's employees will join Keyfactor, creating an unprecedented mashup of talent in the identity management space. Jordan Rackie will continue leading the organization as CEO and Magnus Svenningson will assume the role of chief strategy officer (CSO) and executive vice president (EVP) of business development.
"The market is recognizing that securing machine identities is a fundamental pillar of a modern identity governance program," said Thomas Krane, principal at Insight Partners.