After a transformative decade marked by substantial growth and acquisitions, Kaseya has announced the forthcoming transition in its leadership, with CEO Fred Voccola set to step down. This change follows ten years of strategic development that saw the company evolve from a single-product provider to a comprehensive platform catering to Managed Service Providers (MSPs) and IT professionals. Voccola's last day as CEO will soon be followed by the appointment of a successor, a search for whom is currently being led by the Kaseya board, as well as board member Kevin Thompson, who will temporarily oversee executive operations. Following his departure, Voccola will assume the role of vice chair and will work closely with the board during this transitionary phase.
In a press statement, Voccola expressed that the decision to make this leadership shift was made with careful consideration and timing. He underscored the significant milestones achieved during his tenure, which have included a remarkable increase in annual recurring revenue (ARR) that reached $1.5 billion in 2024. According to the third-quarter market report from industry analyst Canalys, Kaseya has emerged as the leader in the Remote Monitoring and Management (RMM) and Professional Services Automation (PSA) markets, surpassing competitor ConnectWise.
Under Voccola's leadership, Kaseya launched two significant subscription bundles in 2024—Kaseya 365 Endpoint and Kaseya 365 User—further solidifying its position in the market. Additionally, the company made a considerable financial commitment towards receiving FedRAMP authorisation for its software modules, aiming to enhance compliance opportunities for MSPs. Voccola had previously indicated that Kaseya intended to roll out two remaining elements of its strategic vision aimed at improving MSP economics by the first quarter of 2025.
In an email addressing Kaseya employees, Voccola reflected on the last decade, stating, “The past ten years have been the most incredible years of my professional life. As I look back, what we’ve accomplished together is extraordinary.” He further remarked on the support Kaseya has received from its investors, particularly Insight Partners, highlighting their backing throughout the company's evolution.
While the leadership change does not immediately affect customer agreements, Kaseya executives reiterate their commitment to enhancing customer experience and product development. The company insists it will continue offering competitive product options supported by its Partner First Pledge Program.
Industry leaders have responded to the announcement with positive affirmations. Arthur Olshansky, CEO of Klik Solutions, praised Voccola as a “tremendous asset for the MSP community” and expressed confidence in the board's ability to find suitable leadership. Similarly, Matt Disher, CEO of Southwest Networks, articulated his assurance that the next CEO will be well-chosen, while Michael Goldstein, president of LAN Infotech, commended Voccola’s impressive work in transforming the MSP landscape.
Looking forward, Kaseya’s strategic plans include positioning the company for a potential initial public offering (IPO). Mike Triplett, managing director at Insight Partners, indicated that the company’s growth trajectory aligns with IPO expectations. Voccola had previously acknowledged that while the timeline for going public was uncertain, it was likely within the next five years.
The appointment of Kaseya’s next CEO will be crucial in continuing the company’s trajectory to deliver a comprehensive, integrated platform designed to empower multifunctional IT professionals through the Kaseya 365 offerings.
Source: Noah Wire Services