Versasec
Versasec is a Stockholm-based software company that provides credential management systems (vSEC:CMS, vSEC:CLOUD) for enterprises in regulated sectors, orchestrating the lifecycle of FIDO2 and hardware authentication credentials across on-premise and cloud deployments.
- Company typePrivate
- Founded2007
- HeadquartersStockholm, Sweden
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Versasec does
Versasec is a Stockholm-based, privately held software company founded in 2007 that develops credential management systems for enterprise customers. Its core offering, the vSEC:CMS platform, orchestrates the full lifecycle of hardware-based authentication credentials — including FIDO2 security keys, smart cards, and biometric tokens — across on-premise and cloud deployments. The platform integrates with major identity providers (Okta, Ping Identity, Microsoft EntraID), hardware security key vendors (Yubico, Thales, HID, AuthenTrend), and security operations platforms (Microsoft Sentinel), enabling enterprises to automate provisioning, recovery, and rotation of high-assurance credentials at scale.
The company monetizes primarily through subscription and licensing fees for vSEC:CMS (with a cloud-native vSEC:CLOUD variant) and through managed services tied to credential lifecycle operations. Its go-to-market combines direct enterprise sales with channel leverage through technology partnerships, particularly the Yubico YubiKey-as-a-Service ecosystem, and event-driven demand generation around conferences such as RSA. Target customers are enterprises in regulated sectors — financial services, healthcare, and government — as well as organizations with decentralized workforces that face logistical complexity in deploying and managing hardware MFA credentials.
Versasec operates with a headcount of 11-50 employees and has raised only modest disclosed funding (~$977K cumulatively across 2011-2014), indicating it has scaled predominantly through operating cash flow. The company is led by CEO Joakim Thorén, with co-founder Paul Foley serving as Chief Service Officer, and maintains North American sales operations led from the US. No acquisitions, institutional venture rounds, or leadership disruptions have been disclosed in the available source data.
Versasec firmographics
Firmographics- Name
- Versasec
- Legal name
- Versasec LLC
- Website
- https://versasec.com
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Versasec is a Stockholm-based software company that provides credential management systems (vSEC:CMS, vSEC:CLOUD) for enterprises in regulated sectors, orchestrating the lifecycle of FIDO2 and hardware authentication credentials across on-premise and cloud deployments.
- Ownership category
- akta.pro rank
Versasec industry classification
Industry- Product category
- Identity and Access Management
- NAICS
- Custom Computer Programming Services (541511), Computer Systems Design and Related Services (54151)
- SIC
- Services-Computer Programming, Data Processing, Etc. (7370), Services-Computer Programming Services (7371)
- akta.pro primary industry
- Confidential Computing & Hardware-backed Protection (TEE/HSM) (HDADAFAJ)
- akta.pro secondary industry
- Security Operations Center (SOC) as a Service (BPAEADAB)
Keywords
Where Versasec is headquartered
LocationHeadquarters
- HQ city
- Stockholm
- HQ country
- Sweden
- HQ region
- Europe
Markets served
Versasec business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- vSEC:CMS Platform License/Subscription: Versasec generates revenue through licensing and subscription fees for its vSEC:CMS credential management platform, available for both on-premise and cloud deployment.
- Enterprise Credential Management Services: Revenue from enterprise services enabling management and lifecycle management of high-assurance MFA devices like YubiKeys through integration with Yubico's YubiKey as a Service.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels2 records
Versasec product offering
Product offeringCore offering
Versasec develops and sells vSEC:CMS, a credential management orchestration platform that enables enterprises to provision, manage, and retire hardware-based authentication credentials including YubiKeys, smart cards, FIDO2 tokens, and biometric devices. The platform supports both on-premise and cloud deployment, integrates with enterprise identity providers and security operations platforms, and enables zero-touch onboarding for decentralized workforces.
Product overview
Versasec offers a credential management platform consisting of two main products: vSEC:CMS (the on-premise/cloud credential management platform) and vSEC:CLOUD (the cloud-native credential management solution). These products work together to provide enterprise credential orchestration and governance, enabling organizations to manage and deploy hardware-based authentication credentials including YubiKeys, Thales eToken FIDO, and HID tokens. The platform integrates with identity providers like Okta, Ping Identity, and Microsoft EntraID, as well as Microsoft Sentinel for security operations, supporting zero-touch credential deployment for decentralized workforces.
Differentiator
Problem solved
Functional benefit
Brands
- vSEC:CMS: Credential management orchestration platform for enterprise MFA and passkey deployment
- vSEC:CLOUD
Products and services
- vSEC:CMS Credential management platform for orchestrating and governing enterprise authentication credentials, supporting hardware security keys, FIDO2, and biometric authentication across on-premise and cloud deployments. Integrates with Microsoft Sentinel, Okta, Ping Identity, Microsoft EntraID, Yubico, Thales, and HID.
- vSEC:CLOUD Cloud-based credential management platform for managing YubiKey deployment and lifecycle, offering zero-touch onboarding and full lifecycle control for high-assurance MFA devices.
Quantifiable outcome
- Reduces operational costs for enterprise credential deployment
- +2 more outcomes
Companies that use Versasec
Customer profileSegments2 records
Ideal customer profiles2 records
Versasec technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration9 records
Feature4 records
Versasec partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and secondary.
- Microsoft SentinelcoreVersasec vSEC:CMS 7.3 introduces codeless integration with Microsoft Sentinel's Log Analytics for Security Operations Centers, enabling credential management data correlation with security operations workflows.
- ThalessecondaryVersasec vSEC:CMS 7.3 expands FIDO2 and biometric hardware support for Thales eToken FIDO and other Thales tokens, adding to the platform's multi-vendor credential management capabilities.
- HIDsecondaryVersasec vSEC:CMS 7.3 expands FIDO2 and biometric hardware support for HID tokens, enabling broader credential management coverage across hardware token vendors.
- AuthenTrendsecondaryVersasec partnered with AuthenTrend as part of vSEC:CMS 7.2 enhancements, adding support for AuthenTrend hardware authentication devices in the credential management platform.
- YubicocoreVersasec integrates with Yubico's YubiKey-as-a-Service portfolio including FIDO Pre-reg managed service, enrollment app, and SDK for enterprise passwordless authentication. The integration enables IT and HR teams to register, provision, and recover YubiKeys directly within existing workflows.
- OktacoreVersasec's vSEC:CMS integrates with Okta identity platform as part of FIDO Pre-reg service availability, enabling enterprise customers using Okta to deploy pre-registered YubiKeys.
- Ping IdentitycoreVersasec's vSEC:CMS integrates with Ping Identity (PingOne PingID) environments as part of FIDO Pre-reg service availability, supporting enterprise passwordless adoption.
- Microsoft EntraIDcoreVersasec solutions support Microsoft EntraID environments as part of Yubico's expanded enrollment services under YubiKey as a Service.
Scale indicators1 record
Recent moves5 records
Expansion highlights5 records
Versasec competitors and assessment
Company assessmentDirect peers
- Axiad: Axiad provides credential lifecycle management and phishing-resistant MFA orchestration for enterprises, directly competing with Versasec in the same niche of managing hardware tokens, smart cards, and FIDO credentials across complex IT environments.
- Entrust: Entrust offers digital identity, PKI, and credential management solutions including hardware authentication tokens and lifecycle management, overlapping with Versasec's vSEC:CMS in serving regulated enterprises managing high-assurance credentials.
- Keyfactor: Keyfactor provides PKI and certificate/credential lifecycle management for enterprises and IoT, comparable to Versasec in the credential orchestration category with focus on automation and integration into enterprise identity stacks.
Broad incumbents
- HID Global: HID Global is a large identity solutions provider offering hardware security keys and credential management software; Versasec's expanded HID token support positions vSEC:CMS as a complementary management layer on top of HID's hardware ecosystem.
- Thales (SafeNet): Thales offers hardware authentication tokens (including SafeNet and eToken FIDO lines) and a broad digital identity portfolio; Versasec integrates with and supports Thales tokens as part of its multi-vendor credential management platform.
- Okta: Okta is a leading identity platform with native MFA and passwordless capabilities; Versasec integrates vSEC:CMS with Okta to add hardware credential lifecycle management on top of Okta's identity workflows, but Okta could expand natively into this layer.
- Ping Identity: Ping Identity provides enterprise identity and access management with MFA and passwordless features; Versasec integrates with PingOne PingID to deliver hardware credential orchestration complementary to Ping's identity platform.
- Microsoft Entra ID: Microsoft Entra ID is a dominant enterprise identity platform with built-in MFA and passwordless capabilities; Versasec's EntraID integration positions vSEC:CMS as a credential lifecycle layer for enterprises standardizing on Microsoft identity.
- RSA Security: RSA provides identity and access management with hardware tokens (SecurID) and credential management; comparable to Versasec as an established authentication vendor serving regulated industries with hybrid hardware/software credential offerings.
Emerging players
- Beyond Identity: Beyond Identity offers a passwordless authentication platform built on FIDO2; it overlaps with Versasec's phishing-resistant MFA focus but is more software-native, making it a partial competitor for enterprises evaluating passwordless strategies.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Versasec social profiles
Digital presenceVersasec financial estimates
Financial estimateRevenue estimate
Valuation estimate
Versasec leadership team
Management profileNumber of profiles
Profiles8 records
Versasec funding detail
Funding detailFunding overview
Funding rounds3 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Versasec M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Versasec
What does Versasec do?
Versasec develops and sells vSEC:CMS, a credential management orchestration platform that enables enterprises to provision, manage, and retire hardware-based authentication credentials including YubiKeys, smart cards, FIDO2 tokens, and biometric devices. The platform supports both on-premise and cloud deployment, integrates with enterprise identity providers and security operations platforms, and enables zero-touch onboarding for decentralized workforces.
Is Versasec a public or private company?
Versasec is a private company. It is classified as unknown and is currently operating.
When was Versasec founded?
Versasec was founded in 2007. It employs 11 to 50 people.
Where is Versasec based?
Versasec is headquartered in Stockholm, Sweden, in the Europe region.
How does Versasec make money?
Two revenue lines are on record. vSEC:CMS Platform License/Subscription is the primary driver. The others are enterprise Credential Management Services.
Who are Versasec's main competitors?
Direct peers on record are Axiad, Entrust and Keyfactor. Broad incumbents are HID Global, Thales (SafeNet), Okta, Ping Identity, Microsoft Entra ID and RSA Security. Beyond Identity is listed as an emerging player.
Does Versasec have an API?
No public API is recorded for Versasec.
What industry is Versasec in?
Versasec's product category is Identity and Access Management. Its primary akta.pro industry code is HDADAFAJ, Confidential Computing & Hardware-backed Protection (TEE/HSM), with a secondary code of BPAEADAB, Security Operations Center (SOC) as a Service. Its NAICS code is 541511 and its SIC code is 7370.