Keypasco
Keypasco (Lydsec Digital Technology, TPEx: 7834) is a Taiwan-headquartered multi-factor authentication and Zero Trust software vendor serving financial institutions, government agencies, and enterprises across 25+ countries, protecting more than 10 million end users with a patented two-channel authentication architecture.
- Company typePublic
- Founded2012
- HeadquartersGothenburg, Sweden
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Keypasco does
Keypasco, legally Lydsec Digital Technology Co., Ltd. (Taipei Exchange: 7834), is a multi-factor authentication (MFA) and Zero Trust Architecture (ZTA) software vendor with Swedish heritage tracing back to Todos Data System AB (founded 1987, acquired by Gemalto in 2010). Following Lydsec's establishment in Taiwan in 2012 and the 2019 acquisition of Keypasco's security business, the combined entity now operates 6 wholly-owned subsidiaries across Taiwan, Japan, the United States, Sweden, the Netherlands, and India, with a channel-partner network covering 20+ additional countries and protecting more than 10 million end users. The company holds 68 patents across 16 jurisdictions covering a proprietary two-channel authentication architecture, device fingerprinting, proximity-based verification, Split PKI key management, dynamic URL routing, and passwordless login, supported by SOC 2 Type II, ISO 27001, and NICS Phase 1/2 certifications aligned with NIST SP 800-207.
The core product portfolio consists of four offerings on a shared software platform: Keypasco Platform (consumer/online-service MFA), Keypasco Enterprise (enterprise IAM integrating with VPN, ERP, CRM, Windows login, Office 365, and cloud apps), Keypasco ZTA (government-certified continuous authentication with risk scoring, SIEM/CDM/EDR/VDI integrations), and Keypasco + FIDO (passwordless authentication combining FIDO2/UAF with proprietary factors). The solution is delivered purely in software — no hardware tokens required — with deployment choices across AWS-hosted cloud or on-premises, integrated via REST APIs and SDKs. A risk management engine layers behavioral, geolocation, and device-fingerprint signals onto authentication decisions, with contextual-AI policy adjustments and limited deepfake-detection capability combining audio and video/image signals.
Revenue is generated primarily through subscription-based MFA software licensing (with both per-seat and enterprise-wide structures) plus professional services for deployment, integration, and customization. The go-to-market motion is sales-led enterprise and government field sales supported by direct regional subsidiaries, 20+ named channel partners, and event-driven demand generation including RSAC 2025, Convergence India 2025, and the company's own Zero Trust Summit. Pricing is opaque and quote-based. Anchor customer segments are financial institutions (Taiwan, Europe, India banks including Hua Nan Commercial Bank with 6.3M end users), Taiwan central government (26% market share), and large enterprises; newer verticals include high-tech manufacturing, smart buildings, education, and electric-vehicle infrastructure.
Keypasco firmographics
Firmographics- Name
- Keypasco
- Legal name
- Lydsec Digital Technology Co., Ltd.
- Website
- https://keypasco.com
- Company type
- Public
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Keypasco (Lydsec Digital Technology, TPEx: 7834) is a Taiwan-headquartered multi-factor authentication and Zero Trust software vendor serving financial institutions, government agencies, and enterprises across 25+ countries, protecting more than 10 million end users with a patented two-channel authentication architecture.
- Ownership category
- akta.pro rank
Keypasco industry classification
Industry- Product category
- Identity and Access Management (Multi-Factor Authentication)
- NAICS
- Software Publishers (5132)
- akta.pro primary industry
- Multi-Factor Authentication (MFA) & Passwordless Authentication (HDAEAJAC)
- akta.pro secondary industries
- Access Management (SSO, MFA, Passwordless) (HDADAAAA), Access Management & Policy Enforcement (Zero Trust) (BPAMAEAH)
Keywords
Where Keypasco is headquartered
LocationHeadquarters
- HQ city
- Gothenburg
- HQ country
- Sweden
- HQ region
- Europe
Offices7 records
Markets served
Keypasco business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- MFA Software Licenses and Subscriptions: Keypasco generates revenue primarily through software licensing and subscription fees for its MFA and Zero Trust authentication solutions. The company offers cloud-based and on-premises deployment options, with modular authentication solutions integrated via APIs and SDKs into enterprise environments. The revenue model supports both per-seat and enterprise-wide licensing structures typical for MFA/enterprise security software.
- Professional Services and Deployment: The company provides deployment, integration, and implementation services to support enterprise customers in integrating Keypasco's authentication solutions with existing systems (VPN, ERP, CRM, Windows login, Office 365, intranet portals, cloud applications). This represents an additional revenue stream tied to software deployment and customization.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise tier with full MFA feature set including two-channel authentication, device fingerprints, proximity, risk management engine, Split PKI, and geolocation/time controls |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels8 records
Keypasco product offering
Product offeringCore offering
Keypasco develops and sells certificate-free, phishing-resistant multi-factor authentication (MFA) software and Zero Trust Architecture (ZTA) solutions for enterprises, financial institutions, and government agencies. Its core offering combines a patented two-channel authentication architecture with device fingerprinting, proximity authentication, and a risk management engine, available as cloud or on-premises deployments through APIs and SDKs.
Product overview
Keypasco offers a unified multi-factor authentication (MFA) and Zero Trust security platform with three core products: Keypasco Platform (MFA solution for online services integrated via APIs/SDKs), Keypasco Enterprise (enterprise authentication framework for VPN/CRM/ERP/Office 365 integration), and Keypasco ZTA (government-certified Zero Trust Architecture with continuous authentication). The portfolio is unified by patented core technologies including Two-Channel Authentication, Device Fingerprints, Proximity Authentication, Split PKI Sign, and a Risk Management Engine. Keypasco + FIDO adds passwordless capability integrating FIDO2/UAF standards. The architecture supports both cloud and on-premises deployment with High Availability and Disaster Recovery options.
Differentiator
Problem solved
Functional benefit
Brands
- Keypasco Platform: MFA solution for online services, seamlessly integrated into applications to protect user accounts.
- Keypasco Enterprise
- Keypasco ZTA
- Keypasco + FIDO
Products and services
- Keypasco Platform An MFA solution designed for online services that can be seamlessly integrated into various applications through APIs and SDKs, providing comprehensive phishing-resistant protection for end-user accounts. Targeted at online service providers and consumer-facing platforms.
- Keypasco Enterprise Enterprise-grade identity and access management solution that helps organizations establish trusted identity authentication mechanisms, protect data, enhance account security, and meet compliance requirements. Integrates with VPN, CRM, ERP, Windows logins, Office 365, and cloud applications. Targeted at enterprise IT and security teams.
- Keypasco ZTA (Zero Trust Architecture) Government-certified Zero Trust Solution enabling continuous authentication to secure cross-system and remote access. Compliant with NIST SP 800-207, CISA Zero Trust Framework, NICS Phase 1 and Phase 2, and ISO 27001 standards. Targeted at government agencies, critical infrastructure, and large organizations.
- Keypasco + FIDO A passwordless authentication solution integrating FIDO2, UAF, and Keypasco's multi-factor technologies (device fingerprints and geolocation), enabling secure access without usernames or passwords. Targeted at enterprises seeking FIDO-compliant passwordless authentication.
Quantifiable outcome
- 26% market share in Taiwan government sector
- +5 more outcomes
Companies that use Keypasco
Customer profileNamed customers6 records
Segments7 records
Ideal customer profiles3 records
Keypasco technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration13 records
AI capability5 records
Feature10 records
Keypasco partnerships and signals
Strategic signalPartnerships
23 partnerships are on record, tiered minor and core.
- UniforceminorTaiwan-based channel partner of Keypasco. Uniforce distributes Keypasco's MFA and Zero Trust solutions in the Taiwan market.
- UnixecureminorTaiwan-based channel partner providing cybersecurity services and distributing Keypasco solutions. Contact: [email protected].
- Pronet InformationminorTaiwan-based IT security distributor and reseller of Keypasco solutions.
- Dai Nippon Printing (DNP)coreMajor Japanese printing and information services corporation (DNP) partners with Keypasco for distribution in the Japan market, leveraging DNP's extensive corporate and financial sector relationships.
- Intelligent Wave Inc. (IWI)coreJapanese IT and security company that distributes and integrates Keypasco MFA solutions in the Japanese market. Contact: [email protected].
- AmistadminorJapan-based channel partner distributing Keypasco solutions. Contact: [email protected].
- MK GroupminorVietnam-based channel partner distributing Keypasco MFA solutions in the Vietnam market.
- SSG (Secur)minorSingapore-based security solutions provider distributing Keypasco solutions in the Singapore market.
- Toppan EdgeminorThailand-based channel partner distributing Keypasco MFA solutions in the Thai market.
- UXVminorSaudi Arabia-based channel partner distributing Keypasco security solutions in the Middle East market.
- Money Guard TechnologiescoreKuwait-based cybersecurity company that partnered with Keypasco to create cybersecurity solutions for the GCC (Gulf Cooperation Council) region, covering Saudi Arabia, Kuwait, and broader Middle East markets.
- JoEagleminorJordan-based channel partner distributing Keypasco MFA solutions in the Middle East and North Africa region.
- BBSSLcoreIndia-based channel partner that co-hosted the 'Keypasco MFA & Zero Trust Security Workshop' with Lydsec in India, driving market expansion in the South Asia region.
- HLBS Tech LtdcoreIndia-based fintech and cybersecurity company that co-hosted the 'Keypasco MFA & Zero Trust Security Workshop' with Lydsec in India, supporting market development in the Indian subcontinent.
- Absolute Graphics Ltd. (AG2)minorIreland-based channel partner distributing Keypasco solutions in the European market.
- KeycyberminorSpain-based channel partner distributing Keypasco MFA solutions in the Spanish market.
- Eonti Inc.minorUnited States-based channel partner distributing Keypasco solutions in the American market.
- Dugan Assets Corp.minorBrazil-based channel partner distributing Keypasco solutions in the Latin American market.
- AimvastminorChile-based channel partner distributing Keypasco solutions in the South American market.
- Auspac One Pty LtdminorRegional channel partner covering Australia, New Zealand, Indonesia, Malaysia, Vietnam, Philippines, and Eastern Europe for Keypasco distribution. In 2026, Keypasco officially entered the Australian market with Auspac One's support.
- Itochu Corporation (伊藤忠商事)coreKeypasco formed a partnership with Itochu Corporation, one of Japan's largest trading companies (sogo shosha), as part of its Japan market expansion strategy. The partnership leverages Itochu's extensive corporate network in Japan for market penetration.
- FIRST (Forum of Incident Response and Security Teams)minorLydsec Digital Technology (Keypasco) was accepted as an official member of FIRST following a rigorous review process, strengthening global cybersecurity collaboration and incident response capabilities.
- Todos Data System AB (Legacy)coreTodos Data System AB, the predecessor company founded in 1987 in Sweden, developed hardware security tokens for the electronic banking market (acquired by Gemalto in 2010 with products in 75 banks and 20M+ devices). In 2012, Lydsec partnered with Todos's Keypasco AB to develop multi-factor authentication solutions, and in 2019, Lydsec acquired Keypasco's security business outright.
Scale indicators6 records
Recent moves10 records
Expansion highlights6 records
Keypasco competitors and assessment
Company assessmentEmerging players
- Transmit Security: Transmit Security offers passwordless, MFA, and identity orchestration solutions with a focus on customer identity and large-scale consumer authentication. It is an emerging player whose bank-led and consumer-scale deployments overlap with Keypasco's B2C2B go-to-market.
- Beyond Identity: Beyond Identity provides passwordless, device-bound MFA using certificates and device attestation, positioning strongly around phishing resistance and Zero Trust. It is an emerging player competing with Keypasco in the modern passwordless authentication category.
- HYPR: HYPR is a passwordless MFA specialist focused on phishing-resistant, FIDO-aligned authentication for enterprises and financial institutions. It is an emerging competitor to Keypasco's passwordless and FIDO2-related offerings (Keypasco + FIDO).
Broad incumbents
- Microsoft (Entra ID): Microsoft Entra ID (formerly Azure AD) ships MFA, Conditional Access, and passwordless authentication bundled into Microsoft 365/E5 licenses, making it the default IAM for most enterprises. It is a broad incumbent that competes with Keypasco on both workforce MFA and Zero Trust identity controls.
- Thales (Imperva / SafeNet): Thales offers a broad portfolio of identity, MFA, HSM, and PKI solutions through its SafeNet and digital security lines, including the legacy of Gemalto's authentication business (which acquired Todos Data System AB). It overlaps with Keypasco on enterprise MFA and government/financial authentication.
Direct peers
- Okta: Okta is a leading cloud-native identity and access management platform offering MFA, SSO, and passwordless authentication to enterprise and government customers globally. It is the most direct competitor to Keypasco's MFA Platform and Enterprise products, especially in workforce identity and customer identity use cases.
- Yubico: Yubico is the leading hardware security key and FIDO2 authentication vendor, offering phishing-resistant MFA via YubiKeys and software tokens. It competes with Keypasco in the passwordless and FIDO-aligned authentication space, particularly for government and high-security enterprise buyers.
- ForgeRock: ForgeRock (now part of Oracle) provides enterprise and consumer identity platforms with MFA, Zero Trust, and AI-driven identity capabilities. It serves large enterprises and governments, overlapping with Keypasco's enterprise/government Zero Trust and MFA offerings.
- Ping Identity: Ping Identity provides enterprise IAM, MFA, and Zero Trust capabilities with deep focus on workforce and customer identity. It overlaps directly with Keypasco's enterprise MFA and government-grade authentication positioning.
- Cisco Duo Security: Cisco Duo provides MFA, Zero Trust, and phishing-resistant authentication for enterprises, with strong integration into Cisco's networking and security portfolio. It competes head-to-head with Keypasco's Enterprise and ZTA offerings in mid-market and enterprise segments.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Keypasco social profiles
Digital presenceKeypasco compliance and trust
Trust signalCompliance7 records
Keypasco financial estimates
Financial estimateRevenue estimate
Valuation estimate
Keypasco leadership team
Management profileNumber of profiles
Profiles15 records
Keypasco subsidiaries and ownership
Company hierarchySubsidiaries5 records
Keypasco funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Keypasco 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 Keypasco
What does Keypasco do?
Keypasco develops and sells certificate-free, phishing-resistant multi-factor authentication (MFA) software and Zero Trust Architecture (ZTA) solutions for enterprises, financial institutions, and government agencies. Its core offering combines a patented two-channel authentication architecture with device fingerprinting, proximity authentication, and a risk management engine, available as cloud or on-premises deployments through APIs and SDKs.
Is Keypasco a public or private company?
Keypasco is a public company. It is classified as public and is currently operating.
When was Keypasco founded?
Keypasco was founded in 2012. It employs 11 to 50 people.
Where is Keypasco based?
Keypasco is headquartered in Gothenburg, Sweden, in the Europe region.
How does Keypasco make money?
Two revenue lines are on record. MFA Software Licenses and Subscriptions are the primary driver. The others are professional Services and Deployment.
Who are Keypasco's main competitors?
Emerging players on record are Transmit Security, Beyond Identity and HYPR. Broad incumbents are Microsoft (Entra ID) and Thales (Imperva / SafeNet). Direct peers are Okta, Yubico, ForgeRock, Ping Identity and Cisco Duo Security.
Does Keypasco have an API?
Yes. Keypasco Platform provides APIs and SDKs enabling developers to integrate Device Fingerprints, Two-channel Structure, and risk & behavior analysis into apps or websites. The API allows flexible customization of authentication flows to fit business needs, supporting seamless deployment with reduced adaptation time for internal users. Developer documentation is at preprodweb.keypasco.com/support.
What industry is Keypasco in?
Keypasco's product category is Identity and Access Management (Multi-Factor Authentication). Its primary akta.pro industry code is HDAEAJAC, Multi-Factor Authentication (MFA) & Passwordless Authentication, with a secondary code of HDADAAAA, Access Management (SSO, MFA, Passwordless). Its NAICS code is 5132.