Keeper Security
Password manager and privileged access management vendor for businesses and consumers.
On the record
Checkpoint: Next quarterly growth disclosure showing whether YoY growth holds above 30% amid Idira competition
The call
Keeper is growing fast and holds real certifications that protect its enterprise base, but a newly merged Palo Alto Networks and Idira now sits in its core market.
Keeper Security makes software that stores and controls passwords and access permissions for large organizations. It is hard to replace right now because it has government certification, deep connections in customer systems, and loyal customers adding it quickly (850 new organizations per month). However, Palo Alto Networks just bought CyberArk (a larger competitor) in May 2026 and rebranded it as Idira, giving that company much more money and salespeople to compete directly with Keeper. Microsoft is also building similar features into its own business software, which could eventually make Keeper unnecessary for customers who already use Microsoft products. The biggest question is whether Palo Alto Networks can convert its size and resources into actual customer wins faster than Keeper keeps growing on its own.
Why
01
AI pressure: Microsoft Entra PIM. Microsoft could bundle privileged access tools into Entra for free, squeezing standalone vendors like Keeper on price and convenience. Could AI do the core job? Unlikely.
02
Bigger players: Palo Alto Networks (via its Idira unit, formerly CyberArk). Palo Alto Networks bought CyberArk and rebranded it Idira, putting a large, funded rival directly in Keeper's enterprise accounts. Could a giant copy it? No, they are blocked.
03
What protects it. FedRAMP High certification, deep integration into customer workflows, and switching costs that make ripping out a password vault painful.
What would change this call
Keeper's YoY revenue growth rate reported in its next Gartner or funding update. Growth staying near 53% signals resilience; a drop below 30% signals share loss to Idira.
Microsoft announces FedRAMP-certified PAM features inside Entra PIM. Would show Microsoft moving from latent bundling threat to a direct federal PAM rival.
Palo Alto Networks/Idira reports win rates against Keeper in Fortune 500 or federal PAM deals. Would confirm the newly resourced incumbent is displacing Keeper in its core accounts.
Microsoft announces FedRAMP-certified PAM features inside Entra PIM. Would show Microsoft moving from latent bundling threat to a direct federal PAM rival.
Palo Alto Networks/Idira reports win rates against Keeper in Fortune 500 or federal PAM deals. Would confirm the newly resourced incumbent is displacing Keeper in its core accounts.
Key numbers
- 53.42% YoY revenue growth per Gartner
- $225M ARR self-reported
- 811 employees, up 95.6% since 2023
Named risks
- Palo Alto Networks/Idira consolidation could erode Keeper's enterprise PAM share.
- Microsoft Entra PIM bundling could commoditize PAM if it gains FedRAMP-level coverage.
- Recurring browser-extension vulnerabilities, e.g. DEF CON 33 disclosure August 2025.
- Most financial figures are company self-reported rather than independently audited.
- No new priced equity round since May 2023 creates funding and IPO timing uncertainty.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| CyberArk (Idira, Palo Alto Networks) | contesting | Acquired by Palo Alto Networks and rebranded Idira, May 2026, entering Keeper's PAM segment |
| losing to | Gartner ranked Google faster-growing security vendor than Keeper as of May 28, 2026 | |
| Microsoft (Entra PIM) | contesting | Bundled Entra PIM is a latent threat, not yet shipped as full PAM rival as of mid-2026 |
| BeyondTrust, Delinea, One Identity | contesting | Named alongside Keeper in EMA eight-vendor PAM study, Aug 22 2025, KeeperPAM rated top |
| Apple, Google, Microsoft OS-native managers | gaining on | Free OS-native password tools commoditizing Keeper's low-end consumer tier |
Questions people ask
- Is Keeper Security profitable in 2026?
- Keeper does not disclose profitability. It self-reported surpassing $225M ARR on July 9, 2026, while Gartner independently measured $143M revenue with 53.42% YoY growth as of May 28, 2026. No profit margins or net income figures have been made public.
- Who is Keeper Security's biggest competitor?
- Keeper's biggest competitor is CyberArk, rebranded 'Idira' after Palo Alto Networks acquired it in May 2026. This well-funded incumbent now directly contests Keeper's enterprise PAM position despite Keeper's own reported 53% YoY growth as of May 2026.
- Could AI replace Keeper Security's password manager?
- Basic password autofill is increasingly commoditized by Apple, Google, and Microsoft's native tools, but Keeper's zero-knowledge encryption, FedRAMP High authorization achieved December 2025, and compliance certifications create liability-cover moats generic AI tools cannot replicate.
- Who owns Keeper Security?
- Keeper Security is privately held and founder-led, co-founded by Craig Lurey and Darren Guccione in 2011. Insight Partners invested $60M in August 2020 and Summit Partners also holds a stake; no single parent company controls it, and no new priced round has been reported since May 2023.
- Has Keeper Security had a major security vulnerability?
- A DOM-based extension clickjacking vulnerability affecting Keeper's browser extension was disclosed at DEF CON 33 in August 2025, but Keeper had already patched it in version 17.2.0 on May 26, 2025, before public disclosure.
- Will Keeper Security go public?
- Keeper stated on July 9, 2026 that it is pursuing a path toward $1 billion ARR and a public offering, but as of that date it has not filed for an IPO, and its last priced equity round was in May 2023.
Timeline
- 2026-07-09Keeper announces surpassing $225M ARR (self-reported)
- 2026-07-07Agentic AI governance extended to Endpoint Privilege Manager
- 2026-05-28Gartner names Keeper 2nd fastest-growing security vendor globally
- 2026-05CyberArk acquired by Palo Alto Networks, rebranded Idira
- 2026-04-30Agent Kit launched for Claude Code, Cursor, Codex, Copilot
- 2025-12FedRAMP High Authorization achieved for Government Cloud
- 2025-08-22KeeperPAM named top-rated in EMA eight-vendor PAM study
- 2025-08DEF CON 33 discloses browser extension clickjacking vulnerability
- 2025-06SOC 3 compliance achieved
- 2025-02KeeperPAM unified platform launched
Revision history
21 July 2026
First assessed. Defensible for now. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- Keeper Named 2nd Fastest-Growing Security Company Globally (2026-05-28)
- Keeper Security surpasses $225M in ARR with transformative growth (2026-07-09)
- Keeper Security Surpasses Four Million Paid Users (2025-04-09)
- A Head-to-Head PAM Comparison (2026-07-15)
- Keeper (password manager) (2026-06-01)
- Keeper Security 2026 Company Profile
- How Much Did Keeper Security Raise? (2025-05-22)
- Keeper Security Number of Employees 2026 (2026-06-29)
- Keeper Security, Inc. - Headcount, Funding & Open Jobs (2026-07-08)
- Keeper Security Launches Agent Kit (2026-04-30)
- Keeper Security Extends Agentic AI Governance to Endpoint Privilege Manager (2026-07-07)
- Keeper vs Idira (formerly CyberArk) (2026-07-14)