Keyfactor has appointed former CyberArk CEO Matt Cohen to its Board of Directors and named him a strategic advisor to CEO Jordan Rackie as the cybersecurity company enters its next phase of growth.
The appointment coincides with the closing of Keyfactor’s previously announced growth investment of more than $1 billion led by Summit Partners.
It also follows Keyfactor surpassing $200 million in annual recurring revenue.
The company plans to use the additional capital to accelerate its strategy around product development, international expansion, strategic acquisitions and investment across its global organization.
Cohen most recently served as CEO of CyberArk, where he helped lead the cybersecurity company through a period of significant growth and its approximately $25 billion acquisition by Palo Alto Networks.
Before becoming CyberArk’s CEO in 2023, Cohen served as Chief Revenue Officer and Chief Operating Officer.
Earlier in his career, he held senior positions at PTC, including Executive Vice President of Worldwide Field Operations, and helped scale PTC beyond $1 billion in annual recurring revenue.
At Keyfactor, Cohen will provide board-level oversight and advise Rackie as the company seeks to scale its machine identity, cryptography, AI security and post-quantum security businesses.
Keyfactor’s Trust Control Plane is designed to provide a unified layer for managing trust across machines, workloads, applications and AI agents.
The platform combines visibility, intelligence, policy and action across machine identity and cryptography.
Cohen’s addition is part of Keyfactor’s broader effort to strengthen its leadership, board and advisory resources with executives that have experience operating technology companies at a larger scale.
KEY QUOTES:
“As we began thinking about Keyfactor’s next chapter with Summit and the rest of our Board, we were very intentional about the experience and perspective we wanted around the table. As our market opportunity continues to expand, we’re entering a phase where scaling with ambition, discipline and operational rigor will be critical.
Matt was someone we pursued very deliberately. He has operated at the scale we aspire to reach, helped build a category leader in cybersecurity and navigated many of the opportunities and inflection points that lie ahead for Keyfactor. We share similar values around leadership, transparency and how to approach both opportunities and challenges. He brings tremendous experience and judgment to our Board, and I’m equally excited to have him as a strategic and trusted advisor as we navigate Keyfactor’s next phase of growth.”
Jordan Rackie, CEO of Keyfactor
“The most exciting companies are often positioned at the intersection of major technology shifts, and that’s exactly where I believe Keyfactor sits today. AI, machine identity, cryptographic modernization and the transition to post-quantum security are converging to create one of the most significant security challenges enterprises will face over the next decade.
Keyfactor has meaningful scale, a strong culture and a clear vision for where the market is headed. From my early conversations with Jordan, we found a lot of common ground, and I saw a leader who’s clear-eyed about what the next level of growth truly demands. I’m excited to join the Board, serve as a strategic advisor to Jordan and help the team capitalize on the tremendous opportunity ahead.”
Matt Cohen, Board Member and Strategic Advisor at Keyfactor
