Kaseya has announced that its CEO, Fred Voccola, will transition to the role of Vice Chairman, focusing on long-term innovation and strategy while aiding in the search for a new CEO. Under Voccola’s leadership over the past decade, Kaseya has experienced significant growth, expanding from a single-product provider to a comprehensive platform, now boasting over one and a half billion dollars in annual recurring revenue. The company recently launched Kaseya 365, a unified subscription service designed to meet the needs of IT professionals. Kaseya’s future looks promising, as it prepares for a potential public offering after achieving its strongest quarterly and yearly results in history. The change in leadership comes as the managed service provider market faces increased competition and challenges.
Why do we care?
I’m not sure we really do yet. Fred is going out when on top – Kaseya displaced ConnectWise as the market leader after the later’s 29 year run on the top, with that massive run rate. Ten years is a long time. I don’t believe an IPO is coming, and I expect they are looking for a leader to manage from 1.5 billion to 5-10 billion, which is a different skill set in leadership.
I went into depth on this on Marvin Bee’s IT Business Podcast, with links in the show notes if you would like further information.