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A Balancing Act: Keyfactor in 2024 and Beyond

Industry Trends

This is the fifth holiday season that I’ve had the opportunity to reflect on Keyfactor’s progress. In 2019, I joined as the CEO of a high-growth cybersecurity company. While I had a strong background in global sales and go-to-market operations, and my leadership track record was solid, I knew I was taking on a new challenge that would introduce new opportunities and obstacles.

Thankfully, I had a strong support system – Many solid leaders and a great culture was in place, quickly complemented by new executives I’d bring on. With a great internal team and product-market fit, and having unwavering support from our venture capital firm Insight Partners, we’ve been able to take Keyfactor to the next level!

Last December, I reflectedon what being responsibly aggressive would mean going into 2023. As I look ahead to the new year, I believe this mantra will continue to play a critical role for Keyfactor, our customers, and the tech industry as a whole.

In October, we welcomed an investment from our newest investor, Sixth Street Growth. This raise valued our company at over $1.3B, and we officially became the newest member of the cybersecurity unicorn club. This achievement didn’t happen overnight — Keyfactor’s leadership has continually remained responsible stewards of our financial standing, drove improvements in our unit economics, all while remaining aggressive in market penetration and customer success. We didn’t burn through capital or run out of cash. We maintained balance and made the right decisions at the right time for our business, customers, partners, and employees.

At Keyfactor, we are laser-focused on bringing innovative solutions to our customers, and in 2024 we know they will face new challenges related to digital identities. Yes, generative AI has gone mainstream in 2023 – In 2024, quantum will be making its way to the front page. Industry organizations like NIST are already pushing companies to prepare for a new post-quantum reality and the resulting cybersecurity impacts. We’re helping our customers be responsibly aggressive when it comes to preparing for post-quantum cryptography — our motto is “prepare now, don’t panic later.”

Helping our customers plan for a post-quantum world today is just one way we are helping them prepare for the threats of tomorrow. Our hyper-connected world is driving demand for Keyfactor and our ability to help customers get a better handle on the massive influx of machine identities, which will continue to grow in 2024. Our platform allows teams to automate and streamline manual processes, and not sacrifice their security posture for the sake of speed, modernization, and transformation. On the product side, we have some exciting things in store next year. So here’s to another year of successful outcomes for our customers, partners, and the Keyfactor team. My expectation is that twelve months from now, I’ll be back here again, recognizing the hard work of our amazing team and reflecting on milestones achieved in 2024.

Happy holidays.