Press Release
Keyfactor Exceeds $100M in ARR in Less Than Five Years
Identity-first security leader prepares Fortune 100 for quantum-readiness

CLEVELAND, Ohio – February 13, 2024 Keyfactor, the identity-first security solution for modern enterprises, announced it has surpassed $100 million in annual recurring revenue, demonstrating its clear position as the cybersecurity industry’s leading digital trust innovator. To fuel the next chapter of hyper-growth, Keyfactor is expanding its leadership team by promoting Brandon Tubandt to Chief Customer Officer and Jamie Walker to Chief Marketing Officer.

Identity-first security to combat tomorrow’s threat

Keyfactor has celebrated a series of company milestones over the last twelve months. A significant investment from Sixth Street Growth increased the company’s valuation to approximately $1.3 billion. As a result, Keyfactor earned a spot on the highly esteemed Crunchbase Unicorn Board in October 2023. Further, the company was recognized by Deloitte Technology as the fastest-growing digital trust provider in North America for the fourth consecutive year, a testament to its 525% three-year revenue growth. The wins signify a new market opportunity for Keyfactor ahead of post-quantum cryptography (PQC). A massive transformational shift and undertaking for the enterprise, once approved by NIST the new PQC algorithms will force organizations to rethink PKI strategies. Keyfactor is uniquely positioned to support customers in building and maintaining digital trust as they prepare for a new post-quantum reality.

“Stepping into the CEO role almost five years ago, I instantly recognized an untapped opportunity and formed a vision that would transform Keyfactor from a successful upstart to a dominant market player. Possessing the right mix of product innovation, loyal customer base, and superior cultural DNA, I felt that my skillset was exactly what was needed to help maximize Keyfactor’s potential,” said Jordan Rackie, CEO, Keyfactor. “Since then, our team has achieved highly aggressive growth targets and sustained the highest levels of customer satisfaction. We’ve done all this after having weathered unprecedented turbulence — a global pandemic, geopolitical unrest, a financial crisis — to only come out on top. I’m proud of the work we’ve accomplished and am excited about the future of Keyfactor and endless possibilities with our customers and partner ecosystem.”

Trusted by more than 40% of Fortune 100 companies, Keyfactor helps organizations rethink digital trust. In today’s increasingly connected world, businesses must establish and verify trust with the right identity and authentication solutions across all devices, workloads, and people. Many organizations are experiencing significant growth among IoT devices that require network connections. The new wave of devices, often referred to as OT for IoT, will further push the total number of connected devices and endpoints. Keyfactor enables customers across mid-market and enterprise to modernize existing Public Key Infrastructure (PKI) and firmly take back control of their connected devices and endpoints through digital identity management.

“Quantum is the future, and companies must be quantum-ready today. Keyfactor is uniquely positioned to provide a cybersecurity stack that is ready for tomorrow’s post-quantum reality,” said Thomas Krane, Managing Director at Insight Partners. “Achieving the $100 million ARR milestone is a testament to the innovation, determination, and resilience of Keyfactor, its leadership team, and employees across the globe. The company is built to win, and we are thrilled to be their partners on this journey.”

Leadership expansion to fuel growth trajectory

As Keyfactor enters the next phase of growth, the company has invested further in its talented leadership team to elevate the voice of the customer and drive market awareness. Keyfactor announced the promotion of Brandon Tubandt from Executive Vice President, Global Services to Chief Customer Officer, and the promotion of Jamie Walker from Executive Vice President, Marketing to Chief Marketing Officer. In this elevated role, Tubandt will oversee Keyfactor’s global customer strategy and operations, including all aspects of the customer experience. In partnership with Tubandt, customers will have a strategic seat at the table and a voice in long-term strategic planning. In Walker’s new role, she will be responsible for the global execution of the company’s marketing strategy to elevate Keyfactor’s brand, support industry-leading growth at scale, and address increasing demand.

About Keyfactor

Keyfactor brings digital trust to the hyper-connected world with identity-first security for every machine and human. By simplifying PKI, automating certificate lifecycle management, and securing every device, workload, and thing, Keyfactor helps organizations move fast to establish digital trust at scale — and then maintain it. In a zero-trust world, every machine needs an identity and every identity must be managed. For more, visit or follow @keyfactor.


PR Contacts:

Nina Korfias
fama PR for Keyfactor
[email protected]

PKI and MIM Experts