All analysis was generated autonomously, without human review. Scores are analytical opinions drawn from the cited public sources, without hands-on testing. They are not audits, certifications, investment reports, purchasing advice, or evaluations of quality.
A bank or manufacturer that roots its certificate authorities, issuance policies, and machine identities in Keyfactor takes on switching friction that runs through issuance and lifecycle workflows, though the record does not document replacement scope. That friction, together with the engineering of running certificate authorities at scale, is the durable part of the business. Keyfactor owns the open-source EJBCA authority, which is Common Criteria certified, and sponsors the FIPS 140-3 Bouncy Castle libraries, an independently audited posture. The limits are plain: the EJBCA core is open source and reproducible, no named cross-customer data asset appears in the record, and identity platform vendors could bundle certificate management into suites large buyers already own.
| Description | Machine-identity and PKI platform that issues and automates digital certificates, runs certificate authorities, signs code, and discovers cryptographic assets to prepare enterprises for post-quantum cryptography. | [f1] |
|---|---|---|
| Founded | 2001 | [f2] |
| HQ | Independence, Ohio, United States | [f3] |
| Latest funding | Minority investment from Sixth Street Growth (Oct 2023, ~$1.3B enterprise value, joining Insight Partners) | [f4] |
| Product | What it does |
|---|---|
| Keyfactor Command | Certificate lifecycle automation that discovers, inventories, issues, and renews certificates and keys across clouds, Kubernetes, and on-prem from one console. |
| EJBCA Enterprise | Enterprise public key infrastructure built on the open-source EJBCA certificate authority, deployable on-prem or in the cloud for human and machine identities. |
| Cryptographic Posture Management | Cryptographic discovery, inventory, and agility tooling (AgileSec, CipherInsights) that finds quantum-vulnerable algorithms and supports the transition to post-quantum cryptography. |
Cyber Defense Matrix
| Identify | Protect | Detect | Respond | Recover | |
|---|---|---|---|---|---|
| Devices Workstations, servers, phones, tablets, storage, network devices, IoT infrastructure, and similar hardware. | |||||
| Applications Software, interactions, and application flows on the devices. | |||||
| Networks Connections and traffic flowing among devices and apps, plus communication paths. | |||||
| Data Content at rest, in transit, or in use across devices, apps, and networks. | |||||
| Users The people using the devices, apps, networks, and data. |
Keyfactor issues and automates certificates, runs certificate authorities, signs code, and discovers cryptographic assets, defending conventional data, application, network, and device trust, so it is mapped to the Cyber Defense Matrix. [f1]
How well the company can compete in its security market, scored across eight dimensions against public evidence.
| Dimension | Score |
|---|---|
| Problem Clarity How precisely the company defines its problem, with evidence the problem exists at the scale claimed. | 4/5 |
| Capability Depth How specific the technical capabilities are, with evidence beyond marketing claims such as docs, demos, and third-party validation. | 4/5 |
| Market Timing Whether the market is ready for this product, with evidence that buyers are actively seeking solutions. | 4/5 |
| Team Credibility Demonstrated domain expertise with public signals such as prior exits, publications, and industry recognition. | 3/5 |
| GTM Proof Evidence of actual traction (customers, revenue signals, partnerships) beyond stated intentions. | 4/5 |
| Funding Efficiency Whether funding matches go-to-market ambition, with signs of capital-efficient growth. | 3/5 |
| Category Clarity Whether the company creates or fits a recognizable category that buyers can quickly place in their stack. | 4/5 |
| Incumbent Defensibility How vulnerable the core value proposition is to absorption as a feature by a platform vendor. | 3/5 |
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A closer look at the company's product strategy, measuring how defensible it is against market forces and examining the eight areas behind it.
press the advantage
| Dimension | Score |
|---|---|
| Value Delivery Does the product sell software as the product, or judgment, trust, or accountability with software as the delivery mechanism. | 1/3 |
| Switching Cost How expensive leaving is for a customer: data portability, integrations, learned workflows, network effects, regulatory data residency. | 2/3 |
| Compliance Moat Whether certifications, liability acceptance, or audit trails block an easy replacement. | 2/3 |
| Problem Complexity Whether the product requires ML, optimization, real-time systems, or years of specialized expertise. | 3/3 |
| Buyer Profile Whether buyers are SMB operators, mid-market IT teams, or regulated enterprises and governments with procurement gates. | 3/3 |
| Layer Whether the product is an end-user application, a platform with application features, or infrastructure other applications depend on. | 3/3 |
| Proprietary Data, Content, or IP Whether the product accumulates datasets, content licenses, or IP that a rival cannot recreate from scratch. | 1/3 |
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The reasoning for the scores, the strategy deep dive, the business risks, and more. AI access comes with the purchase, so your AI tools can read the full profile too. You keep 12 months of access.
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UnlockReading several? Unlock the entire catalog.
| Id | Source | Tier | Accessed |
|---|---|---|---|
| f1 | About Keyfactor mission and cryptography | official | 2026-06-20 |
| f2 | Certified Security Solutions re-brands as Keyfactor (Nov 1, 2018) | official | 2026-06-21 |
| f3 | Exa company record Keyfactor headquarters | research | 2026-06-20 |
| f4 | Keyfactor minority investment from Sixth Street Growth (~$1.3B) | official | 2026-06-20 |
| Id | Source | Tier | Accessed |
|---|---|---|---|
| s1 | Keyfactor homepage trust infrastructure “Trust Infrastructure for AI & Machines ... 12x Increase in certificate renewals with 47-day TLS lifespans. Certificates expire in weeks, not years. Outages take down critical systems.” | official | 2026-06-29 |
| s2 | Keyfactor about page customer wall and compliance marks “Schneider-Electric-logo ... Siemens-Logo ... ServiceNow-logo ... mT-bank ... Keyfactor maintains certifications and compliance with the world's leading regulatory and security frameworks. FedRAMP_Logo ... AICPA SOC logo” | official | 2026-06-29 |
| s3 | Keyfactor Command certificate lifecycle automation “With Command, you'll continuously discover and inventory every certificate and key, including post-quantum (PQ) and hybrid certificates, from one console” | official | 2026-06-20 |
| s4 | EJBCA Enterprise open-source PKI “Powered by the most trusted and widely used open-source PKI, EJBCA Enterprise empowers teams to establish trust with identity-first security for every human and machine, anywhere.” | official | 2026-06-20 |
| s5 | Keyfactor acquires InfoSec Global and CipherInsights “"These acquisitions mark a major leap forward in securing digital trust," said Jordan Rackie, CEO, Keyfactor. "We're uniting the best of the best, the most advanced discovery capabilities for cryptographic assets at rest and in motion” | official | 2026-06-20 |
| s6 | Keyfactor Sixth Street minority investment (~$1.3B) “trusted by more than 1,500 organizations to build and maintain digital trust. Increasing market demand has resulted in Keyfactor's staggering three-year revenue CAGR of over 70%.” | official | 2026-06-20 |
| s7 | Keyfactor launches Trust Control Plane “CLEVELAND, Ohio - June 9, 2026 - Keyfactor, the leader in trust infrastructure for AI and machines, today announced the Trust Control Plane, a unified operating model for the machine identities and cryptographic assets” | official | 2026-06-20 |
| s8 | VentureBeat: Keyfactor raises $125M and merges with PrimeKey (Chris O'Brien, Apr 15, 2021) “The first is a merger with PrimeKey, which creates the certificates that serve as crucial tools for identifying machines. The second is $125 million in new funding to power growth and comes two years after the company raised $77 million.” | press | 2026-06-29 |
| s9 | NIST finalizes first 3 post-quantum encryption standards “NIST is encouraging computer system administrators to begin transitioning to the new standards as soon as possible.” | research | 2026-06-29 |
| s10 | BankInfoSecurity: Keyfactor earns $1.3B valuation (Michael Novinson, Oct 24, 2023) “A machine identity management provider led by a former Tricentis executive notched a $1.3 billion valuation after receiving a minority investment from Sixth Street Group.” | press | 2026-06-29 |
| s11 | Frost & Sullivan: Frost Radar PKI-as-a-Service 2024 (Keyfactor profiled) “Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar” | research | 2026-06-29 |
| s12 | NVD CVE-2022-34831: Keyfactor PrimeKey EJBCA ACME validation bypass (CVSS 9.8 Critical) “An issue was discovered in Keyfactor PrimeKey EJBCA before 7.9.0 ... a non-compliant client can include additional dnsNames the CSR sent to the finalize endpoint, resulting in EJBCA issuing a certificate including the identifiers that were not validated.” | research | 2026-06-29 |
| s13 | CyberArk completes acquisition of Venafi (Oct 1, 2024) “the successful completion of its acquisition of Venafi, a leader in machine identity management, from Thoma Bravo ... Venafi is a cybersecurity market leader and the category creator of machine identity management” | press | 2026-06-29 |
| s14 | Certified Security Solutions re-brands as Keyfactor “CLEVELAND, Ohio - November 1, 2018 - Certified Security Solutions (CSS), a leading provider of secure digital identity management solutions, has rebranded as Keyfactor. The company, established in 2001” | official | 2026-06-21 |
| s15 | EJBCA Enterprise achieves Common Criteria certification (NIAP cPP, CSfC) “PrimeKey's EJBCA Enterprise has achieved Common Criteria certification conformant to the Protection Profile for Certification Authorities ... the certification is a mandatory requirement to be part of the Commercial Solutions for Classified (CSfC) Program.” | official | 2026-06-29 |
| s16 | NIST CMVP certificate 4943: Bouncy Castle FIPS Java API, FIPS 140-3 “Module Name BC-FJA (Bouncy Castle FIPS Java API) Standard FIPS 140-3 Status Active ... Overall Level 1 ... Module Type Software” | research | 2026-06-29 |
| s17 | NVD CVE-2023-34196: Keyfactor EJBCA RA servlet partial DoS (CVSS 8.2 High) “In the Keyfactor EJBCA before 8.0.0, the RA web certificate distribution servlet /ejbca/ra/cert allows partial denial of service due to an authentication issue. In configurations using OAuth, disclosure of CA certificates to unauthenticated or less privileged users may occur.” | research | 2026-06-29 |
| s18 | The Quantum Insider on the Keyfactor InfoSec Global acquisition “Key capabilities include AgileSec Analytics for deep cryptographic visibility, AgileSec Agility for managing and updating cryptography without source code changes, and CipherInsights for real-time passive network monitoring of cryptographic risks.” | press | 2026-06-20 |
| s19 | Keyfactor announces NIST FIPS 140-3 certification for Bouncy Castle “As a sponsor of the Legion of the Bouncy Castle, the charitable organization behind Bouncy Castle, Keyfactor enables continued development and FIPS certification for the popular APIs.” | official | 2026-06-29 |
| s20 | Keyfactor recognized as the leader in PKI-as-a-Service by Frost & Sullivan (vendor-displayed) “named the top leader in Frost & Sullivan's 2024 Frost Radar for PKI-as-a-Service (PKIaaS). Keyfactor was recognized as the strongest performer on both the Innovation and Growth Indexes for its innovative PKIaaS offering” | official | 2026-06-29 |
| Id | Source | Tier | Accessed |
|---|---|---|---|
| s1 | Keyfactor homepage trust infrastructure “Trust Infrastructure for AI & Machines ... 12x Increase in certificate renewals with 47-day TLS lifespans. Certificates expire in weeks, not years. Outages take down critical systems.” | official | 2026-06-29 |
| s2 | Keyfactor Command certificate lifecycle automation “With Command, you'll continuously discover and inventory every certificate and key, including post-quantum (PQ) and hybrid certificates, from one console, so nothing slips by.” | official | 2026-06-20 |
| s3 | EJBCA Enterprise open-source PKI “Powered by the most trusted and widely used open-source PKI, EJBCA Enterprise empowers teams to establish trust with identity-first security for every human and machine, anywhere.” | official | 2026-06-20 |
| s4 | About Keyfactor mission and leadership “Cryptography is the foundation of trust. It protects data, verifies identities, and secures connections. ... Jordan Rackie CEO Ted Shorter CTO & Cofounder” | official | 2026-06-29 |
| s5 | Keyfactor acquires InfoSec Global and CipherInsights “"These acquisitions mark a major leap forward in securing digital trust," said Jordan Rackie, CEO, Keyfactor. "We're uniting the best of the best, the most advanced discovery capabilities for cryptographic assets at rest and in motion” | official | 2026-06-20 |
| s6 | Keyfactor Sixth Street minority investment (~$1.3B) “trusted by more than 1,500 organizations to build and maintain digital trust. Increasing market demand has resulted in Keyfactor's staggering three-year revenue CAGR of over 70%.” | official | 2026-06-20 |
| s7 | Keyfactor launches Trust Control Plane “CLEVELAND, Ohio - June 9, 2026 - Keyfactor, the leader in trust infrastructure for AI and machines, today announced the Trust Control Plane, a unified operating model for the machine identities and cryptographic assets” | official | 2026-06-20 |
| s8 | VentureBeat: Keyfactor raises $125M and merges with PrimeKey (Chris O'Brien, Apr 15, 2021) “The first is a merger with PrimeKey, which creates the certificates that serve as crucial tools for identifying machines. The second is $125 million in new funding to power growth and comes two years after the company raised $77 million.” | press | 2026-06-29 |
| s9 | BankInfoSecurity: Keyfactor earns $1.3B valuation (Michael Novinson, Oct 24, 2023) “A machine identity management provider led by a former Tricentis executive notched a $1.3 billion valuation after receiving a minority investment from Sixth Street Group.” | press | 2026-06-29 |
| s10 | NIST finalizes first 3 post-quantum encryption standards “NIST is encouraging computer system administrators to begin transitioning to the new standards as soon as possible.” | research | 2026-06-29 |
| s11 | NVD CVE-2022-34831: Keyfactor PrimeKey EJBCA ACME validation bypass (CVSS 9.8 Critical) “An issue was discovered in Keyfactor PrimeKey EJBCA before 7.9.0 ... a non-compliant client can include additional dnsNames the CSR sent to the finalize endpoint, resulting in EJBCA issuing a certificate including the identifiers that were not validated.” | research | 2026-06-29 |
| s12 | EJBCA Enterprise achieves Common Criteria certification (NIAP cPP, CSfC) “PrimeKey's EJBCA Enterprise has achieved Common Criteria certification conformant to the Protection Profile for Certification Authorities ... the certification is a mandatory requirement to be part of the Commercial Solutions for Classified (CSfC) Program.” | official | 2026-06-29 |
| s13 | NIST CMVP certificate 4943: Bouncy Castle FIPS Java API, FIPS 140-3 “Module Name BC-FJA (Bouncy Castle FIPS Java API) Standard FIPS 140-3 Status Active ... Overall Level 1 ... Module Type Software” | research | 2026-06-29 |
| s14 | Keyfactor about page customer wall and compliance marks “Schneider-Electric-logo ... Siemens-Logo ... ServiceNow-logo ... mT-bank ... Keyfactor maintains certifications and compliance with the world's leading regulatory and security frameworks. FedRAMP_Logo ... AICPA SOC logo” | official | 2026-06-29 |
| s15 | Frost & Sullivan: Frost Radar PKI-as-a-Service 2024 (Keyfactor profiled) “Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar” | research | 2026-06-29 |
| s16 | NVD CVE-2023-34196: Keyfactor EJBCA RA servlet partial DoS (CVSS 8.2 High) “In the Keyfactor EJBCA before 8.0.0, the RA web certificate distribution servlet /ejbca/ra/cert allows partial denial of service due to an authentication issue. In configurations using OAuth, disclosure of CA certificates to unauthenticated or less privileged users may occur.” | research | 2026-06-29 |
| s17 | Certified Security Solutions re-brands as Keyfactor “CLEVELAND, Ohio - November 1, 2018 - Certified Security Solutions (CSS), a leading provider of secure digital identity management solutions, has rebranded as Keyfactor. The company, established in 2001” | official | 2026-06-21 |
| s18 | Keyfactor announces NIST FIPS 140-3 certification for Bouncy Castle “As a sponsor of the Legion of the Bouncy Castle, the charitable organization behind Bouncy Castle, Keyfactor enables continued development and FIPS certification for the popular APIs.” | official | 2026-06-29 |
| s19 | Keyfactor recognized as the leader in PKI-as-a-Service by Frost & Sullivan (vendor-displayed) “named the top leader in Frost & Sullivan's 2024 Frost Radar for PKI-as-a-Service (PKIaaS). Keyfactor was recognized as the strongest performer on both the Innovation and Growth Indexes for its innovative PKIaaS offering” | official | 2026-06-29 |
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