Keeper Security, an identity security platform, has reached $225 million（約360億円） in annual recurring revenue and is expanding rapidly by securing both human and AI agent identities for enterprises. The company's growth reflects rising demand from organizations deploying AI systems that create exponentially more machine credentials and privileged access points to protect.
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Keeper Security announced it has reached $225 million（約360億円） in Annual Recurring Revenue (ARR), with ARR having grown over 3× since 2021. The company now protects over 95,000 organizations and is adding an average of 850 new organizations every month. Its KeeperPAM product, launched in February 2025, has achieved 10× year-over-year growth.
Why it matters
Enterprises are deploying AI agents and autonomous systems that generate exponentially more machine identities and credentials—a security challenge traditional platforms were not built to handle. Keeper's unified approach to securing both human and non-human identities (service accounts, AI agents, databases) addresses this emerging threat directly, positioning it as a modern alternative in a market where identity security is becoming the central security concern.
What to watch
Keeper is growing at over 4× the industry average and was recognized by Gartner in 2025 as the second-fastest-growing security software competitor globally, second only to Google. The company has added over 400 innovative features and products to KeeperPAM in the last fifteen months.
Keeper Security's $225 million（約360億円） ARR milestone marks a shift in how enterprises approach security as artificial intelligence adoption fundamentally changes their infrastructure. Traditionally, identity and privileged access management focused on human users; the emergence of AI agents and autonomous systems has created a new class of entities—service accounts, machine identities, and AI workloads—that require the same rigor of identity governance and credential management. This explosion of non-human identities has created both a business opportunity and a market gap, since legacy platforms designed around human-centric access control cannot easily extend to machine-scale environments.
Keeper's timing and product strategy appear to have captured this transition. The company's 10× year-over-year growth in KeeperPAM revenue since its February 2025 launch, combined with its 850-organization-per-month customer growth, suggests that enterprises are actively seeking a unified platform rather than cobbling together separate tools. The Gartner ranking—second-fastest-growing globally and ahead of most pure-play identity vendors—signals that the market recognizes Keeper's position. That said, the company's stated path to $1 billion（約1600億円） ARR and a public offering remains dependent on sustained growth as AI agent deployment scales across enterprise infrastructure, a still-emerging category where long-term customer retention and ROI narratives have yet to fully form.
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