Keyfactor Appoints Former CyberArk CEO Matt Cohen to Board of Directors and Strategic Advisor

Appointment comes as Keyfactor closes $1B+ growth investment led by Summit Partners and accelerates its next phase of scale beyond $200 million in ARR

ATLANTA and STOCKHOLM, Oct. 5, 2026 /PRNewswire/ -- Keyfactor, the leader in trust infrastructure for AI and machines, today announced the appointment of former CyberArk CEO Matt Cohen to its Board of Directors. Cohen will also serve as a strategic advisor to Keyfactor CEO Jordan Rackie, providing an additional source of perspective and operating experience as the company enters its next phase of growth and scale.

The appointment coincides with the closing of Keyfactor's previously announced $1 billion-plus growth investment led by Summit Partners and follows the company's recent milestone of surpassing $200 million in annual recurring revenue (ARR). Together, the developments reflect Keyfactor's continued growth and accelerate investment behind its Trust Control Plane and expand its leadership across machine identity, cryptography, AI security and post-quantum readiness.

Cohen most recently served as CEO of CyberArk, where he helped lead one of cybersecurity's defining growth stories and ultimately the company's approximately $25 billion acquisition by Palo Alto Networks. Over more than two decades in technology, Cohen has built and scaled global businesses, led major strategic and operational transformations, and created significant enterprise value. Before becoming CyberArk's CEO in 2023, he served as its Chief Revenue Officer and Chief Operating Officer. Earlier in his career, he held senior leadership roles at PTC, including Executive Vice President of Worldwide Field Operations, helping scale the company beyond $1 billion in ARR.

"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."

"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."

Keyfactor has emerged as a global leader at the intersection of machine identity and cryptography as enterprises confront an unprecedented expansion in the number of machines, workloads, applications and AI agents that must be authenticated and trusted. The company's Trust Control Plane represents the next evolution of how enterprises manage trust across these environments. It creates a unified control layer that brings together visibility, intelligence, policy and action across machine identity and cryptography.

"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."

"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."

Summit Partners' investment provides additional resources to help accelerate Keyfactor's growth strategy, which focuses on continued product innovation, international expansion, strategic acquisitions and investment across the company's global organization. Cohen's appointment reflects a broader philosophy around preparing Keyfactor for its next phase: continuing to strengthen the leadership team while surrounding the company with Board members, advisors and partners who bring relevant experience from the scale Keyfactor intends to reach.

For more information, visit https://www.keyfactor.com/.

About Keyfactor

Keyfactor is the leader in trust infrastructure for AI and machines. The platform equips enterprises to take control of the machine identities and cryptography that safeguard every digital interaction. By bringing fragmented tools and assets into a single control plane, security teams can see their cryptographic landscape, find and remediate risk exposure, roll out compliant and quantum-safe cryptography, and issue a cryptographic identity to every machine, workload and AI. Trusted by the largest enterprises and government agencies, Keyfactor delivers the resilient foundation organizations need to keep running uninterrupted in the AI and quantum era. Learn more at www.keyfactor.com or follow Keyfactor on LinkedIn.

Media Contact for Keyfactor:

Danielle Ostrovsky
Hi-Touch PR
[email protected]

SOURCE Keyfactor