Rackie, who was also appointed to the board of directors, assumes the role from Keyfactor co-founder Kevin von Keyserling, who is staying with the company and remains on the board. Von Keyserling will serve the company as chief strategy officer with the transition.
Rackie has worked with a variety of tech-enabled companies in the past and is a former Techstars mentor. He most recently worked a stint of a few months with Vienna IT company Tricentis, where he was senior vice president, global revenue. He worked several years at Georgia software company QASymphony — ranked by Inc. magazine as the eighth fastest-growing software business in the U.S. in 2017 — before holding that position, which came up as the company was merged into Tricentis.
“These leadership appointments support the impressive business the leadership team at Keyfactor has established,” said Michael Triplett, managing director at Insight Venture Partners, in a statement. “The IoT device and digital identity management market is continuing to grow at an exponential rate. Our commitment to strengthening and advancing our position within the marketplace is evident with these appointments.”
Keyfactor cited research firm Gartner Inc. forecasting that the identity and access management (IAM) market will grow to $13.42 billion by 2022. It also estimated that “by 2022, 40% of global midsize and larger enterprises will use identity and access management as a service (IDaaS) capabilities to fulfill most of their identity and access management needs, which is up from 5% today.”
“These changes set the stage for significant growth at Keyfactor. With the rapid rise of the IoT device market, and accelerating requirements for digital security management at scale, we are expertly positioned to maximize market opportunity while delivering unmatched value to our customers,” Rackie said in a statement. “I couldn’t be more excited about our future.”
“Keyfactor serves the most innovative companies in rapid transformation sectors where security is often life-critical,” von Keyserling added. “The addition of Jordan, Jim and Tim allows Keyfactor to retain its leadership position in IoT device and digital identity security markets while doubling down on R&D innovations.”