Growth by Design: How Cybersecurity Leader Keeper Security Builds for the Long Term
Summit Managing Director Len Ferrington shares insights learned from our partnership with Keeper Security. Since our 2023 investment, we’ve seen how a clear vision supported by disciplined execution across product, people, technology and go-to-market has fueled Keeper’s global expansion in the cybersecurity market.
Many companies chase growth. The best companies design for it.
We believe Keeper Security has done exactly that. What began in 2011 as a consumer password manager is now a comprehensive, next-gen privileged access management platform. Keeper protects millions of users and thousands of organizations globally – from individual users and small businesses to Fortune 500 companies and government agencies. Keeper’s story isn’t just about expansion, however, it’s about executing pursuant to a clear vision with consistent focus and intensity. Throughout its journey, the company has focused on how it builds: investing in systems and defining processes designed to address critical unmet needs of the market and existing customers, while delivering innovation at speed.
Since our investment in 2023, we’ve seen that mindset applied across product development, talent development and go-to-market execution. Below, we take a closer look at how Keeper has built what we believe is the foundation for sustained, long-term growth.
Keeper by the Numbers
Built for Purpose: Keeper’s Product Foundation
Keeper’s evolution from a consumer mobile app to an enterprise-grade cybersecurity platform didn’t happen by accident; it was enabled by early architectural decisions and a product philosophy centered on usability, scalability and security.
From the start, Keeper’s product team prioritized intuitive design and a seamless user experience. That consumer-first mindset has remained constant, even as the company expanded into increasingly complex environments within the enterprise and public sectors. Today, customer feedback remains a core component of Keeper’s product development roadmap, helping to ensure that features are purpose-built to meet the real-world needs of its customers.
Keeper’s zero-trust, zero-knowledge security architecture was a strategic decision made early in its journey. That foundation has played a critical role in Keeper’s ability to scale securely and flexibly over time. It paved the way for major platform extensions, including the recent launch of KeeperPAM, which introduced full privileged access management capabilities such as session monitoring, access provisioning and behavioral analytics. This is product innovation by design: intentional, extensible and informed by the people who use it.
Building a Team That Builds the Business
As Keeper’s platform has expanded, so has its team – now more than 550 employees strong and operating across North America, Europe and Asia. Since Summit’s investment in 2023, Keeper has added approximately 250 new team members and profitably achieved a 5-year CAGR of 73% on its ARR.1
The company has effectively productized its approach to talent, applying the same operational discipline it brings to product development and go-to-market execution. Keeper has built structured, repeatable systems for hiring, onboarding and training, often developing talent from within and primarily recruiting without the use of external search firms. This approach has enabled strong cultural alignment and organizational continuity, even amid rapid growth,
“The single most important aspect of our growth at Keeper isn’t just our technology – it’s the team and stakeholders behind it,” said Keeper CEO and Co-founder Darren Guccione. “It is essential, in all aspects of the organization, to empower employees and stakeholders who are passionate about becoming self actualized in their respective profession. We are fanatical about developing innovative products and technologies, but even more so, our people.”
Once onboarded, employees are supported by clear performance frameworks and robust professional development programs that promote accountability, alignment and long-term growth. This people strategy has enabled Keeper to expand its global workforce while preserving focus, cohesion and high performance.
The result is an organization built to keep growing – with intention and at scale.
A Go-to-Market Engine Designed to Scale
Keeper has built a go-to-market strategy designed for scalability. The company’s approach is flexible enough to support an expanding and increasingly diverse customer base, with a structure that fuels data-driven ongoing improvement.
As Keeper’s product has expanded in depth and capability, so too has the range of customers it serves. Today, the company serves more than 4 million users across 70,000 customers – ranging from individuals and small businesses to government agencies and Fortune 100 enterprises. Each market segment brings distinct needs, buying cycles and expectations, and Keeper aims to address these through a multi-faceted go-to-market approach. The model supports tailored strategies to engage organizations of all sizes across any industry. A robust global channel partnership strategy extends the company’s reach, enabling it to efficiently enter new markets and serve customers at scale.
Funnel performance is closely tracked across regions, channels and segments, with insights fed directly into strategy and execution. This data-driven loop helps Keeper to refine its approach, optimize resource allocation and scale with confidence.
Strategic brand investments, such as the company’s partnership with the Atlassian Williams Racing Formula 1 team, further reinforce Keeper’s identity as a precision-driven platform.
This is go-to-market by design: intentional, adaptive and built to grow alongside the business.
Growth Timeline
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Keeper’s growth reflects a clear strategy: build the right systems, invest in the right people and stay disciplined through growth. The company’s product evolution, team structure and commercial execution are all powered by frameworks designed to scale.
This intentional approach is supported by a profound philosophy that prioritizes not just operational execution today, but the ability to continually improve over time.
Since our investment in 2023, we’ve worked closely with the Keeper team to support international expansion, operational scaling and continued platform innovation. But the real strength lies within the company itself – in the systems and strategies designed to sustain durable, long-term growth.
Keeper by the Numbers
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1. As of June 2025. The information was provided by the Company and is believed to be reliable and current, but accuracy cannot be guaranteed. Past operating performance is not a guarantee of or necessarily indicative of future results.
Published June 2025. Certain statements about Summit Partners made by Darren Guccione herein are intended to illustrate Summit Partners’ business relationship with Keeper Security (“Keeper”) and Mr. Guccione, including with respect to Summit Partners’ role as a business partner, rather than reflect Summit Partners’ capabilities or expertise with respect to investment advisory services. Mr. Guccione was not compensated in connection with his participation or statements; however, he has received and continues to receive compensation in connection with his employment at Keeper. Mr. Guccione is not an investor in a Summit fund but may have conflicts arising from his current role with Keeper due to Keeper’s relationship with Summit.
Further, the information presented herein represents the views and opinions of Summit Partners as well as present executives of Keeper Security, is inherently uncertain and based on a number of assumptions. The information herein has not been independently verified by Summit Partners or an independent party. Such information should not be construed or relied upon as an indication of future performance or other future outcomes. For a complete list of Summit Partners portfolio companies, please click here.
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