Keyfactor Appoints Matt Cohen to its Board of Directors

In his new role, Cohen will provide guidance and share his experience as Keyfactor enters its next phase of growth and expansion.

The appointment comes as Keyfactor closes its previously announced $1 billion-plus growth investment led by Summit Partners. The company has also recently surpassed $200 million in annual recurring revenue (ARR).

These developments will support further investment in Keyfactor’s Trust Control Plane and strengthen its position across machine identity, cryptography, AI security and post-quantum readiness.

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Cohen most recently served as CEO of CyberArk, where he helped lead the company’s growth and its approximately $25 billion acquisition by Palo Alto Networks.

He has more than 20 years of experience in technology, building global businesses and leading major strategic and operational changes. Before becoming CyberArk’s CEO in 2023, he served as Chief Revenue Officer and Chief Operating Officer.

Earlier in his career, Cohen held senior leadership roles at PTC, including Executive Vice President of Worldwide Field Operations, where he helped the company grow beyond $1 billion in annual recurring revenue.

"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," said Jordan Rackie, CEO of Keyfactor. "As our market opportunity continues to expand, we're entering a phase where scaling with ambition, discipline and operational rigor will be critical."

"The most exciting companies are often positioned at the intersection of major technology shifts, and that's exactly where I believe Keyfactor sits today," said Cohen. "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."

About Keyfactor

Founded in 2001, Keyfactor provides trust infrastructure for AI and machines. Its platform helps companies manage machine identities and cryptography that protect digital interactions. Keyfactor brings different tools and assets into one platform, helping security teams monitor cryptographic systems, identify risks, deploy compliant and quantum-safe cryptography and create digital identities for machines, workloads and AI.

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