It is no secret that data breaches are a growing epidemic, with the average cost of a data breach being nearly $3.8 million, according to the IBM-sponsored Ponemon 2016 Cost of Data Breach Study. As a result, businesses of all sizes have found themselves searching for tools to better manage the security of their data, with vendors of all types popping up in this growing market, ready to meet security needs.
Keeper, which was founded in 2011 in Chicago, IL, is one such company. Built on the premise that passwords are the greatest single cause of data breaches, Keeper developed their offering with the goal of meeting an increasing need for password management software, both for consumers and businesses.
It first started life as a consumer product. Version 1.0 of Keeper first launched on the iPhone, and has since amassed millions of users. It later added a password management offering for businesses, and has since attracted 3,000 business customers, most of which are SMBs.
The most recent version of Keeper, released in June 2016, was designed for individuals, small to medium sized businesses and enterprises with the goal of improving ease of use, flexibility, and security for the user.
Claimed by Keeper to be unique to its offering are such features as a unified password and data vault, a robust security architecture which Keeper boasts has never been compromised, native apps on every Mobile OS, device and browser, and SOC-2 Type II compliance: a rigorous security audit focused on a business’s non-financial reporting controls as they relate to security, availability, processing integrity, confidentiality, and privacy of a system.
From a user behavior perspective, Keeper has built in features to help encourage and enforce healthy password habits. Users can generate strong passwords and store them in a secure vault while administrators have the ability to monitor overall password security using metrics such as password strength or uniqueness.
The latest release included such features as enhanced administration, Duo two-factor authentication, enhanced security through HTTP Public Key Pinning, and more, with each added feature being intended to improve the security of Keeper and the data within it as much as possible.
Breaking The Fourth Wall
After five years, Keeper has resisted the lure of investment that flows into the security industry and has managed to be entirely self-funded.
Keeper manages to both address the needs of the consumer while also allowing for itself to be a product well-positioned for businesses.
Keeper’s platform strategy involves embracing a variety of platforms, including mobile (Android, iOS, Windows Phone), desktop (Linux, Mac, PC) and browser (Chrome, Firefox, IE). It also has an emphasis on creating engaging and appealing experience for users.
One of Keeper’s biggest strengths is that it can mitigate against the fundamental user errors which threaten security. One of the greatest security risks is password reuse or simple passwords (such as “password1”). The latest iteration of Keeper makes it easy for IT admins to ensure that users create unique, strong, and distinct passwords for each online service.
The software has evolved considerably through the years, there still remains ample opportunity to further develop the product through additional features, such as enhanced reporting or analytics.
Keeper has developed a solid product, but it’s in a competitive market with other established and well-funded products, such as LastPass (owned by LogMeIn), Thycotic, and Dashlane. However, is addresses a real need in the security market, and with some effort, the right marketing, and a continued dedication to a secure and user-friendly product, Keeper will be able to continue to make its mark on the market.