Keyfactor Surpasses $100 Million In ARR

By Amit Chowdhry • Feb 19, 2024

Keyfactor – an identity-first security solution for modern enterprises – announced it has passed $100 million in annual recurring revenue, demonstrating its clear position as the cybersecurity industry’s leading digital trust innovator. To drive 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.

Keyfactor celebrated a series of company milestones over the last twelve months. And a significant investment from Sixth Street Growth increased the company’s valuation to approximately $1.3 billion. And now Keyfactor is positioned to support customers in building and maintaining digital trust as they prepare for a new post-quantum reality.

Trusted by over 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. And many organizations are experiencing significant growth among IoT devices that require network connections. 

The new wave of devices – often considered as OT for IoT – will further push the total number of connected devices and endpoints. And 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.

As Keyfactor enters the next phase of growth, the company invested further in its talented leadership team to elevate the voice of the customer and drive market awareness. And 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 the 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. And 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.


“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. 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.”

  • Jordan Rackie, CEO, Keyfactor

“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. 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.”

  • Thomas Krane, Managing Director at Insight Partners