Discussion with Jordan Rackie, CEO of Digital Trust Company Regarding His Company
In a rapidly evolving digital landscape, Keyfactor, a leading provider of digital identity and PKI solutions, has made significant strides under the leadership of CEO Jordan Rackie. Rackie's proudest moment came when Keyfactor surpassed $100 million ARR (Annual Recurring Revenue) in less than five years, a milestone that followed an initial growth from $7 million ARR.
Prior to joining Keyfactor, Rackie, with a background primarily in sales, served as Senior Vice President of Global Revenue at Tricentis and Chief Revenue Officer at QASymphony. This experience, coupled with his expertise in scaling revenue and sales organizations in technology companies, prepared him well for his role at Keyfactor.
Keyfactor's success is further demonstrated by its secondary funding round in October 2023, which brought the company to a $1.3 billion valuation. The company's strategic merger with PrimeKey in 2021, under Rackie's leadership, also contributed to this growth, increasing Keyfactor's revenue from $7 million to over $150 million.
However, the journey doesn't stop here. Keyfactor's future goals include helping organizations make successful migrations to post-quantum cryptography (PQC) and exceeding a quarter billion dollars in revenue over the next three years.
The need for PQC is becoming increasingly urgent, as NIST's draft PQC transition strategy sets a timeline of 2030 for RSA and ECC deprecation. Unfortunately, a recent Keyfactor report revealed that only 23% of organizations had begun planning for PQC, indicating a disconnect between perception and reality regarding the urgency of the transition.
Keyfactor's product suite is designed to help companies secure digital transactions with a trusted identity. The company stands out with an unmatched depth and scalability across its offerings, able to handle the demands of modern enterprises managing millions of identities.
Establishing a secure and resilient PKI infrastructure is critical to maintain the security, reliability, and integrity of digital interactions. Turning to qualified, experienced partners like Keyfactor can help ensure the right people, processes, and tools are in place during the transition to post-quantum security.
Keyfactor's commitment to fostering a positive work environment is evident, with the company being named to Inc.'s Best Workplaces list for five consecutive years. The global PKI market is projected to reach $13.8 billion by 2028, and the global digital identity and access management market will double in that time to nearly $40 billion.
As we move towards a post-quantum reality, Keyfactor is uniquely positioned to support customers in building and maintaining digital trust. The company was recognised in the 2024 Frost Radar for PKI-as-a-Service (PKIaaS) for its adaptability, operational flexibility, and intelligence. Keyfactor's dedication to educating organizations about the looming quantum threat and inspiring them to take action to protect their digital trust will undoubtedly continue to drive the company's success.
- Keyfactor's success in the digital landscape, under the leadership of CEO Jordan Rackie, extends beyond PKI solutions to finance and business, as demonstrated by the company's $1.3 billion valuation following a secondary funding round in 2023.
- Rackie's background in sales and expertise in scaling revenue and sales organizations in technology companies, such as Tricentis and QASymphony, have given him the necessary skills to propel Keyfactor's growth from $7 million ARR to over $150 million.
- With the need for post-quantum cryptography (PQC) becoming increasingly urgent as NIST's draft PQC transition strategy sets a timeline of 2030 for RSA and ECC deprecation, Keyfactor's product suite, which helps companies secure digital transactions with a trusted identity, is poised to lead in data-and-cloud-computing and cybersecurity industries, as the company aims to exceed a quarter billion dollars in revenue over the next three years.
