Executive summary
As of November 2026, CybersecTools tracks 252 companies that sell data protection solutions as their main business. Key Management is part of that family. The largest groups are based in the United States, Canada and the United Kingdom. In the last 12 months they raised $1.8B across 28 funding rounds, 9 companies were acquired and 12 new companies started in the last two years.
From that field we chose six solutions that create, store, rotate and control the encryption keys that protect your data. Thales CipherTrust Manager suits large companies that want one place to manage keys across data centers and clouds, with role-based access and audit logs. Fortanix Data Security Manager fits enterprises that run keys in several clouds and data centers and want the same policies everywhere. Futurex CryptoHub suits companies that need one key manager across AWS, Azure, Google Cloud and older systems.
The main choice is how far each product reaches. Thales, Fortanix, Futurex and Penta Security run policies, rotation and audits across many systems. Akeyless focuses on keys you bring to cloud providers. Cryptomathic suits banks that manage keys across many HSM vendors, and some products also offer HSM as a service.
Ask each vendor which of your databases, clouds and apps it connects to out of the box, because custom connections drive cost.
How we evaluated
We looked at 48 key management solutions from 34 companies, and the 6 on this page made the cut. We combined our judgment from years of leading enterprise security programs with market data from Mandos, our market intelligence platform, and with the vendor and review pages listed under Sources at the end of this page. For customer feedback, we left out paid reviews, reviews by vendor staff or partners, review campaigns and anything older than two years, so you get an accurate view of what customers say.
Four traits mattered most: full key life cycle management with rotation and audit logs; secure key storage; support for your clouds, databases and apps; and clear access control over who can use each key. We left out physical HSM appliances and key managers that only serve one cloud provider. We also left out disk, file and network encryption products. The order follows how widely each product is used by teams like yours. Company momentum shows how the vendor itself is growing, so a market leader can rank first with a lower score.
Read the full method · See all sources
What is Key Management
Key management products control the encryption keys that protect your data. They create keys, store them safely, rotate them on a schedule, decide who can use them and log every use. Many products keep their keys in hardware security modules (HSMs), which are tamper-resistant devices that stop anyone from copying keys out.
This matters because encryption is only as strong as the keys behind it. A key stored next to the data it protects, or never rotated, turns encryption into a checkbox. Rules such as PCI DSS also expect you to show how keys are kept and who used them.
Compare Key Management solutions
This analysis focuses on six key management solutions. The table compares them on vendor, who each one is best for, deployment model and the NIST CSF functions they cover.
- 1.
Thales CipherTrust Manager
Best for: Large companies managing keys across data centers and clouds
Starting price: Free plan
Hybrid · Mid-Market to Enterprise · NIST: Protect
- 2.
Fortanix Data Security Manager
Best for: Enterprises with keys in several clouds and data centers
Starting price: Contact sales
Hybrid · Enterprise · NIST: Govern, Protect
- 3.
Futurex CryptoHub
Best for: Companies with keys across clouds and older systems
Starting price: Contact sales
Hybrid · Mid-Market to Enterprise · NIST: Protect
- 4.
Akeyless Multi-Cloud KMS BYOK
Best for: Cloud-first teams managing BYOK keys
Starting price: Contact sales
Cloud · Mid-Market to Enterprise · NIST: Protect, Detect
- 5.
Penta Security D.AMO Key Management System (KMS)
Best for: Companies encrypting many different databases
Starting price: Contact sales
On-Premises · Mid-Market to Enterprise · NIST: Protect
- 6.
Cryptomathic Crypto Key Management System (CKMS)
Best for: Banks and payment companies with many HSM vendors
Starting price: Contact sales
Hybrid · Mid-Market to Enterprise · NIST: Protect
| Solution | Best for | Starting price | Deployment | Company size | NIST CSF functions |
|---|---|---|---|---|---|
| Large companies managing keys across data centers and clouds | Free plan | Hybrid | Mid-Market to Enterprise | Protect |
| Enterprises with keys in several clouds and data centers | Contact sales | Hybrid | Enterprise | Govern, Protect |
| Companies with keys across clouds and older systems | Contact sales | Hybrid | Mid-Market to Enterprise | Protect |
| Cloud-first teams managing BYOK keys | Contact sales | Cloud | Mid-Market to Enterprise | Protect, Detect |
| Companies encrypting many different databases | Contact sales | On-Premises | Mid-Market to Enterprise | Protect |
| Banks and payment companies with many HSM vendors | Contact sales | Hybrid | Mid-Market to Enterprise | Protect |
Vendors change prices, so check before you buy.
See every Key Management solution we list
The full Key Management market, filtered by company size, deployment and NIST coverage.
Enterprise key management solution for centralized encryption key lifecycle mgmt
Meudon, FranceFounded 1893Public company
- SOC 2
- ISO 27001
- FedRAMP
- PCI DSS
- FIPS 140
- Common Criteria
Best for: Large companies managing keys across data centers and clouds
At a glance
- Vendor
- Thales Group
- Headquarters
- Meudon, France
- Founded
- 1893
- Ownership
- Public company (HO)
- Deployment
- Hybrid
- Company size
- Mid-Market, Enterprise
- NIST CSF
- Protect
- Starting price
- Free plan
Funding, hiring and news for Thales Group on Mandos.
Our take
Thales CipherTrust Manager is the central point of the CipherTrust Data Security Platform. It manages keys through their whole life cycle, from generation and rotation to destruction, import and export. It adds role-based access control with Active Directory credentials, audit logging, secrets management and multi-tenancy.
It runs as a virtual or physical appliance, on premises or on AWS, Microsoft Azure, Google Cloud, VMware and Microsoft HyperV. It can store its keys in a FIPS 140-3 Level 3 HSM, and it connects to Microsoft SQL TDE and Oracle TDE.
It earns its place as a central key manager for large estates, because it covers the full key life cycle and runs both on premises and in every major cloud. It fits mid-sized and large companies that need HSM-backed key storage and database encryption. It is one part of a wider data security platform, so be clear which parts you are buying now.
Thales CipherTrust Manager main features
- Centralized encryption key lifecycle management
- Role-based access control with Active Directory and LDAP integration
- FIPS 140-3 Level 3 compliant HSM integration
- REST API, KMIP, and NAE-XML API support
- Multi-cloud deployment support
- Unified management console for data discovery and classification
- Self-service licensing and multi-tenancy
- Secrets management
Thales CipherTrust Manager main integrations
- AWS
- Microsoft Azure
- Google Cloud
- VMware
- Microsoft HyperV
- Active Directory
- Microsoft SQL TDE
- Oracle TDE
Before you buy
Where it is strong
- Full key life cycle in one console
- Runs on premises or in major clouds
- Role-based access with Active Directory
Ask in the demo
- List which CipherTrust connectors you need and price them
- Ask whether you need an HSM for master keys
- Check support for every database you encrypt
Manages encryption keys across hybrid and multicloud systems, with HSM-backed storage.
Santa Clara, United StatesFounded 2016$135M raised
- SOC 2
- ISO 27001
- PCI DSS
- HIPAA
Best for: Enterprises with keys in several clouds and data centers
At a glance
- Vendor
- Fortanix
- Headquarters
- Santa Clara, United States
- Founded
- 2016
- Deployment
- Hybrid
- Company size
- Enterprise
- NIST CSF
- Govern, Protect
- Pricing
- Contact sales
Funding, hiring and news for Fortanix on Mandos.
Our take
Fortanix Data Security Manager (DSM) is a platform for data encryption and key management. You store, search, rotate and retire keys from one console. The same access policies apply to keys on premises and in the cloud. Keys are generated, stored and used on HSMs (hardware security modules), and the vendor states its hardware is FIPS 140-2 Level 3 validated.
You can bring your own keys to cloud services through BYOK, including AWS KMS External Key Store and Google External Key Manager. It also covers tokenization, secrets and code signing, on premises or as SaaS.
It is here because one console applies the same key policies on premises and in the cloud, with keys kept on HSMs. It fits large enterprises with keys spread across several clouds and data centers. Since it also covers tokenization and secrets, decide early whether you want it to replace other products or only manage keys.
Fortanix Data Security Manager main features
- Store, search, rotate, and retire cryptographic keys
- Key lifecycle administration across hybrid multicloud
- HSMs offered as a service
- FIPS 140-2 Level 3 validated hardware
- Bring Your Own Key (BYOK) for cloud services
- Central encryption and access control policies
- Tokenization that keeps data structure
- Secrets management for credentials and API keys
Fortanix Data Security Manager main integrations
- AppViewX
- BigID
- Google Workspace
- Keyfactor
- ServiceNow
- Snowflake
- SQL Server
- MongoDB
- AWS KMS External Key Store
- Google Cloud External Key Manager
Before you buy
Where it is strong
- Same policies for on-premises and cloud keys
- HSM-backed key storage, offered as a service
- Regional SaaS instances in six areas
Ask in the demo
- Ask which of your cloud key services it connects to today
- Check whether you need the tokenization and secrets modules
- Ask which SaaS region would hold your keys
Best for: Companies with keys across clouds and older systems
At a glance
- Vendor
- Futurex
- Headquarters
- Bulverde, United States
- Founded
- 1981
- Deployment
- Hybrid
- Company size
- Mid-Market, Enterprise
- NIST CSF
- Protect
- Pricing
- Contact sales
Funding, hiring and news for Futurex on Mandos.
Our take
Futurex CryptoHub manages the full key life cycle across cloud and on-premises systems, from generation and storage to distribution, rotation and deletion. It uses a layered key structure, so each level of keys protects the level below it, and it stores keys in HSMs.
It runs across AWS, Microsoft Azure and Google Cloud as well as hybrid and on-premises setups, and it supports post-quantum cryptography. It connects to Microsoft SQL Server, Oracle Database, VMware vSphere, HashiCorp Vault, MongoDB, Google Cloud EKM, Venafi and DigiCert, among others.
It earns a place because it covers the full key life cycle across the three big clouds and older on-premises systems, with HSM-backed storage. It fits mid-sized and large companies with many systems to connect, since its connector list is long. Post-quantum support helps if you want to plan that move from the same console.
Futurex CryptoHub main features
- Cryptographic key lifecycle management (generation, storage, distribution, rotation, deletion)
- Hierarchical key structure with Platform Master Key (PMK), Backup Major Key (BAK), KEKs, and working keys
- Hardware Security Module (HSM) integration for tamper-resistant key protection
- Automated key rotation and policy enforcement
- Key usage auditing and compliance logging
- Post-quantum cryptography (PQC) support with PCI HSM validation
- Support for symmetric, asymmetric, and certificate-related key types
- Hybrid and multi-cloud key management across AWS, Azure, and Google Cloud
Futurex CryptoHub main integrations
- Microsoft AD CS
- Google Cloud EKM
- Google Workspace
- Microsoft SQL Server
- Oracle Database
- VMware vSphere
- AWS
- Microsoft Azure
- HashiCorp Vault
- IBM Db2
- MongoDB
- MySQL
Show all 33Show fewer
- CyberArk Privileged Access
- CyberArk Trust Protection Foundation
- Venafi
- DigiCert
- Microsoft AD RMS
- Microsoft Intune
- Microsoft SignTool
- NetApp ONTAP
- Pure Storage FlashArray
- Red Hat Certificate System
- Ansible Vault
- Apache HTTP Server
- Nginx
- Bitwarden
- Jenkins
- OpenVPN Access Server
- TrueNAS
- Curity Identity Server
- BIND
- Versasec vSEC:CMS
- Zettaset XCrypt
Before you buy
Where it is strong
- One key manager across three major clouds
- Keys protected in HSMs
- Long list of database and app connections
Ask in the demo
- Ask which Futurex products you need for your use case
- Check the integration guide for each app you run
- Ask about the move plan from your current key store
Alternatives to each solution on this list
The closest Key Management alternatives for every pick, matched on features and integrations.
Multi-cloud KMS for centralized BYOK encryption key management and rotation
Ramat Gan, IsraelFounded 2018$79M raised
- SOC 2
- ISO 27001
- PCI DSS
- FIPS 140
Best for: Cloud-first teams managing BYOK keys
At a glance
- Vendor
- Akeyless Security
- Headquarters
- Ramat Gan, Israel
- Founded
- 2018
- Deployment
- Cloud
- Company size
- Mid-Market, Enterprise
- NIST CSF
- Protect, Detect
- Pricing
- Contact sales
Funding, hiring and news for Akeyless Security on Mandos.
Our take
Akeyless Multi-Cloud KMS BYOK keeps the encryption keys you bring to cloud providers in one vault. It rotates them automatically and shows where each key is used across clouds.
It monitors and audits key use for compliance. It works with cloud key services such as AWS KMS and Azure KMS, and it is part of the wider Akeyless platform, which also covers secrets and access.
Its place on this list comes from a narrow job: it keeps the keys you bring to cloud providers in one vault and rotates them for you. It fits cloud-first mid-sized and large teams, especially if you also want secrets and access in the same platform. It runs only as a cloud service and centers on BYOK keys, so if you also need keys for on-premises databases and apps, check how far it reaches.
Akeyless Multi-Cloud KMS BYOK main features
- Secure vault for cloud encryption keys
- Automated key rotation
- Centralized management of BYOK cloud keys
- Visibility into BYOK cloud key usage
- Monitoring and auditing of key usage
- Multi-cloud key management
Akeyless Multi-Cloud KMS BYOK main integrations
- ACME Server
- Ansible
- Artifactory JIT Access
- Auth0
- AWS Bedrock
- AWS Databricks Plugin
- AWS IAM
- AWS JIT Access
- AWS KMS
- AWS Rotated Secret
- AWS S3
- AWS Secrets Manager
Show all 49Show fewer
- Azure AD JIT Access
- Azure AD OIDC Auth
- Azure AD SAML Auth
- Azure Databricks Plugin
- Azure DevOps
- Azure Key Vault Secrets Manager
- Azure KMS
- Azure Log Analytics
- Azure Rotated Secret
- Backstage
- Buildkite
- C# .NET Core SDK
- Cassandra JIT Access
- Cassandra Rotated Secret
- Cert manager
- Chef Infra JIT Access
- Chef InSpec Plugin
- Chrome
- CircleCI
- Claude
- Codex (ChatGPT)
- Consul Template
- Cursor-AI / VS Code IDE Plug-In
- Datadog
- Devin/Windsurf
- Docker Hub JIT Access
- Docker Hub Rotated Secret
- EKS JIT Access
- Elasticsearch
- Firefox
- Fly.io
- GCP IAM
- GCP JIT Access
- GCP KMS
- GCP Rotated Secret
- GCP Secret Manager
Before you buy
Where it is strong
- One vault for keys across clouds
- Automatic key rotation
- Shows where each key is used
Ask in the demo
- Ask which clouds and key services are supported today
- Check how it fits with secrets you already manage
- Ask where keys are stored and who can reach them
Enterprise key management system for encryption key lifecycle management
Seoul, South KoreaFounded 1997
- FIPS 140
- Common Criteria
Best for: Companies encrypting many different databases
At a glance
- Vendor
- Penta Security Inc.
- Headquarters
- Seoul, South Korea
- Founded
- 1997
- Deployment
- On-Premises
- Company size
- Mid-Market, Enterprise
- NIST CSF
- Protect
- Pricing
- Contact sales
Funding, hiring and news for Penta Security Inc. on Mandos.
Our take
Penta Security D.AMO Key Management System manages the full life cycle of encryption keys, from generation to destruction and revocation. It runs as an appliance that keeps keys apart from encrypted data, which helps meet PCI DSS.
It splits access between security administrators and database administrators, supports PKCS#11 and KMIP, and offers a GUI and CLI with central audit logs. It supports databases such as Oracle, MSSQL, DB2, MariaDB, PostgreSQL and Altibase.
It is on the list because it is built around database encryption, with dual access control that keeps security admins and database admins apart. It fits mid-sized and large companies that run many different databases on premises. It is an on-premises appliance, so ask how it reaches cloud workloads if part of your data has moved.
Penta Security D.AMO Key Management System (KMS) main features
- Key life cycle management
- PKI-based administrator authentication
- Dual access control
- Support for symmetric and asymmetric keys and certificates
- GUI and CLI management
- Centralized audit logs and system monitoring
- Network channel bonding
- Sectional encryption
Penta Security D.AMO Key Management System (KMS) main integrations
- Oracle
- Altibase
- MSSQL
- DB2
- MariaDB
- PostgreSQL
Before you buy
Where it is strong
- Keys kept apart from encrypted data
- Split access between security and database admins
- Wide database support
Ask in the demo
- Confirm support for every database you run
- Ask about local support in your region
- Test high availability in a pilot
Central key management that enforces key policy across apps, clouds and HSM vendors.
Aarhus, DenmarkFounded 1986
- ISO 27001
- PCI DSS
- FIPS 140
- Common Criteria
Best for: Banks and payment companies with many HSM vendors
At a glance
- Vendor
- Cryptomathic
- Headquarters
- Aarhus, Denmark
- Founded
- 1986
- Deployment
- Hybrid
- Company size
- Mid-Market, Enterprise
- NIST CSF
- Protect
- Pricing
- Contact sales
Funding, hiring and news for Cryptomathic on Mandos.
Our take
Cryptomathic Crypto Key Management System (CKMS) manages encryption keys from one central platform. Together with Crypto Service Gateway (CSG), it controls HSM services and key policy, covering key import, generation, export, renewal and how each key may be used.
It works across HSM vendors such as Thales and Atalla, offers HSM as a service and supports Bring Your Own Key for multi-cloud setups. Applications connect through Java (JCE), PKCS #11 and Microsoft CAPI, and it fits payment systems such as BASE24.
It earns its place because it sets key policy for every application in one place across many HSM vendors, which suits banks and payment companies. Central control of algorithms also helps when you move to post-quantum cryptography. If you do not run several HSM vendors or payment systems, a broader key manager may fit you better.
Cryptomathic Crypto Key Management System (CKMS) main features
- Central key policy enforcement in one interface
- Key generation, import, export and renewal
- HSM as a service across multiple HSM vendors
- Multi-cloud key management with Bring Your Own Key
- Audit and logging trail for each application
- Crypto agility and central enforcement of PQC algorithms
- Crypto Query Language APIs
- Java (JCE), PKCS #11 and Microsoft CAPI interfaces
Cryptomathic Crypto Key Management System (CKMS) main integrations
- BASE24
- Atalla
- Thales
Before you buy
Where it is strong
- Central key policy across HSM vendors
- Audit trail for each application
- Built for banks and regulated markets
Ask in the demo
- Ask whether CKMS alone or CKMS with CSG fits your case
- Check support for the HSM vendors you already use
- Ask how your payment systems connect
How they fit your cybersecurity program (NIST CSF)
NIST CSF 2.0 has six functions: Govern, Identify, Protect, Detect, Respond and Recover. The grid shows which functions each pick maps to in our record, so you can see where a solution sits in your program and what it leaves to other controls.
Where each solution sits on NIST CSF 2.0
All 6 solutions map to Protect. 1 of 6 maps to Govern. 1 of 6 maps to Detect. None map to Identify, Respond or Recover.
Swipe the table sideways to see all six functions.
| Solution | ||||||
|---|---|---|---|---|---|---|
| All solutions on this list | 1 of 6 | 0 of 6 | 6 of 6 | 1 of 6 | 0 of 6 | 0 of 6 |
| Thales CipherTrust Manager | – | – | 2 of 5 | – | – | – |
| Fortanix Data Security Manager | 1 of 6 | – | 2 of 5 | – | – | – |
| Futurex CryptoHub | – | – | 3 of 5 | – | – | – |
| Akeyless Multi-Cloud KMS BYOK | – | – | 1 of 5 | 1 of 2 | – | – |
| Penta Security D.AMO Key Management System (KMS) | – | – | 2 of 5 | – | – | – |
| Cryptomathic Crypto Key Management System (CKMS) | – | – | 3 of 5 | – | – | – |
A cell shows how many of that function's categories the solution maps to.
A product helps you reach these outcomes, but it does not make you compliant on its own. Your people and processes do the rest.
CISO checklist for selecting a Key Management product
I built this checklist from my own work researching, rolling out and reviewing products like these. I recommend you go through it before you sign.
Nika (Nikoloz) Kokhreidze, Founder of CybersecTools and Mandos
Work through these steps in order to go from scattered keys to a contract you can defend.
Your ticks stay in this browser. Nothing is sent to us.
Compare Key Management solutions side by side
Features, integrations, NIST coverage and deployment for every Key Management solution we list, in one table.
Other solutions we considered for this shortlist
We looked at 37 products for this list. These did not make the 6 above but are worth a look for the right team.
1.ProvenRun ProvenHSM · ProvenRun
Cloud & telecom HSM with formal OS verification, FIPS 140-3 L3, and PQC support.
2.Fornetix VaultCore · Fornetix
Centralized encryption key management & cryptographic operations platform.
3.Randtronics DPM easyKey · Randtronics
Software KMS with full key lifecycle mgmt, KMIP API, and HSM support.
Vendor-agnostic enterprise encryption key management across edge and cloud.
5.DuoKey
Cloud encryption & customer-controlled key management for SaaS/cloud data.
Conclusion
Start with where your keys live today. If you need one place to manage keys across data centers and clouds, Thales CipherTrust Manager, Fortanix Data Security Manager and Futurex cover that.
Akeyless suits cloud-first teams managing keys they bring to cloud providers. Penta Security fits companies encrypting many different databases, and Cryptomathic suits banks and payment companies that manage keys for many HSMs.
Frequently Asked Questions
What is the difference between a key manager and an HSM?
A key manager runs the rules: rotation, access and audit logs across many systems. An HSM is hardware that stores keys and does cryptographic work so the keys never leave it. Several products here keep keys in HSMs or offer HSM as a service, so you do not have to buy the hardware yourself.
Do I need a separate key manager if my cloud has one?
Not always. Cloud key services work well inside one cloud. A separate key manager helps when you run several clouds and your own data centers, or when you must hold your own keys.
What is BYOK?
Bring your own key means you create a key yourself and give it to a cloud provider to encrypt your data. You keep control of the key and can revoke it.
What is KMIP?
KMIP is a standard way for apps and storage systems to ask a key manager for keys. Support for it makes it easier to connect products from different vendors.
Should I plan for post-quantum cryptography now?
It helps to choose products that can add post-quantum algorithms later. Futurex supports post-quantum cryptography, and Cryptomathic lets you enforce post-quantum algorithms from one place.
Sources
These are the pages we reviewed for each pick: the vendor's own product page and website, its market data on Mandos, and every review page we read for customer feedback.
1.Thales CipherTrust Manager · Thales Group
Product page · Thales Group website · Market data on Mandos · G2 · Gartner Peer Insights · Reddit
2.Fortanix Data Security Manager · Fortanix
Product page · Fortanix website · Market data on Mandos · Gartner Peer Insights: data security manager · Gartner Peer Insights: fortanix data security manager · Reddit
3.Futurex CryptoHub · Futurex
4.Akeyless Multi-Cloud KMS BYOK · Akeyless Security
Product page · Akeyless Security website · Market data on Mandos
5.Penta Security D.AMO Key Management System (KMS) · Penta Security Inc.
Product page · Penta Security Inc. website · Market data on Mandos
6.Cryptomathic Crypto Key Management System (CKMS) · Cryptomathic
