Fundraising Fox

Keycard

15 known investors

Keycard provides infrastructure for AI agents to operate safely and securely in production environments, enabling developers to connect agents to services across multiple clouds while maintaining identity, policy, and audit controls.

Also known as Keycard, Inc.

Founders & leadership

ILIan Livingstone
Ian Livingstonein𝕏Founder, CEOPreviously worked on platform strategy at Snyk, and before that co-founded Cape Privacy, where he was Head of Engineering, and Manifold.co, where he served as CTO. He co-hosts The Infra Pod, sits on the board of Halihax, and invests in and advises early-stage companies.
MCMatthew Creager
Matthew CreagerinFounder, Product & MarketingPreviously VP of Product for platform engineering and developer experience at Snyk, and a co-founder of Manifold, where he led engineering, developer relations, and later product. Earlier roles included Director of Developer Relations at Heroku, software engineering at Salesforce, and technical management positions at BlackBerry and Spark Creek IT Consulting.
JHJared Hanson
Jared Hansonin𝕏Founder, TechnologySpent several years at Okta as a senior and then principal product architect, following the company's acquisition of Auth0, where he was chief architect. His earlier engineering work spans NodePrime, Sifteo, and Aspera, and he advised Dynamic Labs from 2022 to 2023.

Investors Β· 15

Also in the syndicate Β· 9

boldstartleadEmilio EscobarEssence VenturesIan AndrewsKarl McGuinnessMatias WoloskiRyan CarlsonTapestry VenturesVermillion Cliffs Ventures

Funding

SEC filings, press & company announcements

$76M disclosed across 2 of 4 rounds Β· 2025

Source: company announcements and press reports β€” follow each round's link for the claim.

Company profile

researched Aug 2026

Keycard is a cloud-native identity and access management platform built for AI agents rather than human users. It positions itself as a control plane governing agent access to tools, APIs and data: each agent receives an identity, each tool call is authorized with a credential, and each action is written to an audit log. The platform resolves a composite identity from the user, device, agent workload and task, evaluates policy at the moment a credential is requested, issues short-lived and resource-scoped tokens, and streams structured telemetry of every tool call and policy decision to SIEM systems such as Splunk and Datadog.

The company frames the problem as the failure of traditional IAM, which assumes long-lived and stable identities, to handle agents that spin up by the thousands, terminate quickly and act on behalf of different users and systems. Rather than storing static API keys and secrets, Keycard replaces them with dynamic, identity-bound, task-scoped tokens that are revocable in-band and that never enter the agent's context window. It operates as a federated identity broker, converting credentials from existing identity providers (Okta, Auth0, Google or any OIDC provider) into agent-aware tokens instead of replacing those providers.

Product surfaces include a CLI (a `keycard run` command that governs coding agents running shell commands, scripts and API calls), SDKs for adding OAuth-based authentication to MCP servers in Python, TypeScript, Go and Ruby, low-level OAuth 2.0 primitives, agent-to-agent (A2A) authentication, and a gateway that proxies requests and injects tokens for systems that cannot run an SDK. Administrative features cover SSO, roles and permissions scoped to organization or zone, audit log export, and a catalog of one-click integrations with APIs including Gmail, Slack, GitHub and Linear.

Founding story

The idea originated in early 2023 after CircleCI disclosed that hackers had stolen encryption keys, invalidating customer API tokens. Snyk was a CircleCI customer, and Livingstone and Creager β€” then at Snyk following its acquisition of their prior startup Manifold, where Livingstone was CTO and Creager led developer relations β€” had to manually map and rotate credentials across the organization, producing a spreadsheet of more than 10,000 credentials. Livingstone concluded that the answer was eliminating secrets rather than storing them better, and recruited Jared Hanson, previously chief architect at Auth0 through its acquisition by Okta, as a third co-founder for identity security expertise.

Business model

B2B SaaS infrastructure sold to developers and security teams building AI agent systems, sitting between agents and the APIs and systems they access and providing dynamic access control as a service in place of static API keys and role-based tokens.

Pricing and the revenue model had not been disclosed as of the early access period; Keycard documentation references organization-level billing configuration.

Traction

The company launched publicly in October 2025 and had not disclosed pricing or customer metrics as of the early access period.

Latest developments

Following the October 2025 stealth exit, Keycard said proceeds would fund development of its IAM platform, expansion of its research and development team, and standards work on Model Context Protocol and OAuth extensions for AI agents. The company has also announced Keycard for Multi-Agent Apps.

β–ΈFull profile β€” market position, technology, go-to-market, geography, history, risks & controversies

Market position

One of a group of startups entering the AI agent security and identity market alongside incumbent IAM vendors adapting existing platforms (Okta, SailPoint, Microsoft Entra, AWS IAM), cloud-native offerings such as AWS AgentCore Identity, developer-first identity platforms such as Descope, WorkOS and Auth0, and secrets management vendors including HashiCorp Vault, Akeyless and CyberArk Conjur. Press coverage characterizes agentic security as an early and crowded category in which no clear leader has been established.

Keycard targets machine-to-machine authentication patterns for ephemeral agents rather than human login workflows, and integrates with rather than replaces existing identity providers. Its founders' background at Snyk, Manifold, Auth0 and Okta is cited by investors as a combination of developer-tooling and standards experience; the company is also working on contributions to emerging standards including Model Context Protocol and OAuth extensions for AI agents.

Technology

Cryptographic verification of agent identity, ownership and authorization, with workload attestation via SPIFFE, Kubernetes service accounts, cloud instance IDs and mTLS binding an agent to a verified runtime. A centralized policy engine evaluates rules at credential issuance, supports observe-only testing against live traffic and instant rollback to prior policy sets, and manages delegation chains with cryptographically linked audit trails that allow security teams to revoke a whole chain via a single API call. Zones map agents, users, resources and tools into logical groupings so policies reference business concepts. SDKs for Python, Node, Go and Java handle OAuth handshakes and token management, and a gateway proxies requests for systems that cannot run an SDK.

Go-to-market

Developer-led adoption through a quickstart that runs Claude Code in a Keycard-protected session, a CLI, SDKs and documentation, with three entry paths positioned on the site: building agents, securing existing coding agents, and adopting governed agent tooling across departments.

Developers building AI agent and multi-agent applications who need secure API access patterns, and enterprise security and compliance teams that must govern and audit agent behavior across an organization.

Geography

Headquartered in San Francisco, United States; co-founders Ian Livingstone and Matthew Creager are based in Halifax, Canada. The platform is described as operating at internet scale across globally available infrastructure.

History

Keycard was founded in 2025 by Ian Livingstone, Matthew Creager and Jared Hanson, and emerged from stealth on 21 October 2025 with $38 million in combined seed and Series A funding.

Risks & controversies

Analysis of the company identifies market-timing risk if enterprise adoption of autonomous agents proceeds more slowly than expected, platform risk from AWS, Microsoft and Google bundling agent identity controls into their AI services, and technical complexity around ephemeral credentials. Press coverage notes skepticism toward first-to-market claims in an unproven category.

Compiled by commissioned research from 8 cited public sources β€” announcements, filings, and press listed under research sources below.

Key figures

latest reported
Founding yearJan 20252025
Total disclosed fundingOct 2025$38M

Company-reported or press-reported figures, each dated to when it was claimed β€” not independently audited.

Competitors Β· 4

by search overlap

Companies competing with Keycard for the same Google search keywords, organic and paid, via search-intersection analysis.

Timeline Β· 2

launches, deals, and filings
Oct 2025
Keycard emerges from stealth with $38M in combined seed and Series A funding

Keycard publicly launched with $38 million in total funding, comprising an $8 million seed round co-led by Andreessen Horowitz and boldstart ventures and a $30 million Series A led by Acrew Capital. The company said it would use the capital to advance its IAM platform for AI agents, expand R&D, and contribute to emerging standards including Model Context Protocol and OAuth extensions for AI agents.

$38M source β†—

Jan 2025
Keycard for Multi-Agent Apps announced

Keycard announced a product offering aimed at multi-agent applications, highlighted on its website.

source β†—

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

In the news

β–ΈResearch sources Β· 8

primary sources listed

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Keycard do?
Keycard is an identity and access management platform that issues short-lived, task-scoped credentials to AI agents.
Who founded Keycard?
Keycard was founded by Ian Livingstone, Matthew Creager, Jared Hanson.
Who are Keycard's investors?
Keycard's investors include Acrew Capital, Andreessen Horowitz, boldstart ventures, Exceptional Capital, Mantis Capital, Modern Technical.
How much funding has Keycard raised?
Keycard has disclosed $76M raised across 2 of its 4 known rounds.