After 10 years, 18 acquisitions, and billions of dollars spent on R&D to transform Kaseya from a single product company to a complete platform for MSPs and IT professionals, CEO Fred Voccola is handing over the reins. A hunt is now underway for a new CEO. That search is being led by the Kaseya board along with board member Kevin Thompson, who will assume temporary leadership of the executive team. Voccola, who will step up into the role of vice chair, will be working closely with the board on finding his replacement.
Kaseya said no other changes are planned as part of this transition.
Voccola noted in a press statement that it was “the right time” to make the transition.
In 2024, Kaseya reached $1.5 billion in annual recurring revenue (ARR) and as of the third quarter market report from industry analyst Canalys, had edged out ConnectWise as the RMM/PSA market leader for the first time. During the year, Kaseya announced two industry-changing subscription bundles: Kaseya 365 Endpoint and Kaseya 365 User. Voccola also made a significant financial commitment to receive FedRAMP authorization for Kaseya software modules, in a move to help MSPs take advantage of opportunities in the compliance area.
Voccola had pledged to roll out the two remaining pieces of their strategic plan to change the unit economics of MSPs by the first quarter of 2025.
Transformation Of Kaseya
In an email to Kaseya employees, Voccola wrote:
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. We transformed Kaseya from a single-product provider into the leading platform for IT professionals, with thousands of AI-powered automations unified under one intuitive interface. Together, we built one of the best software companies on the planet – growing ARR from just over $50 million to more than $1.5 billion – all while increasing profitability each and every year. Over that time, we acquired 18 companies and invested billions of dollars and hundreds of thousands of R&D hours. And in 2024, we reached the culmination of this journey with the launch of Kaseya 365 and delivered record-breaking results—a testament to our relentless drive and shared vision. I can confidently say that we’ve changed the industry and accomplished everything we set out to do a decade ago.
He also noted that Kaseya’s “investors, led by Insight Partners, were fully supportive, both financially and operationally, of this vision from the very start.”
Voccola signed off with:
To my fellow Kaseyans: you are the heart and soul of this company. Your passion, talent, and dedication have made everything we’ve accomplished possible. I bleed Kaseya blue, and I have no doubt that the best is yet to come for this incredible organization.
What It Means For MSP Partners
According to company executives, Kaseya’s agreements with customers will not be impacted, and the company will continue to offer the most cost-effective products in the industry backed by its Partner First Pledge Program.
Kaseya said its top priorities in 2025 remain investing heavily in improving the customer experience and in developing its products and that Kaseya’s investors continue to support the company’s strategic plan financially and operationally.
Asked for his reaction, Canalys Chief Analyst Jay McBain said in an email, “Completely unexpected and quickly rushed for that size of company (at this stage).” He also quipped, “There are rumors circling around a move into U.S. Politics and this would be the time for an appointment by the new administration up the road in Florida.”
We asked some MSPs to weigh in too.
“Fred has been a tremendous asset for the MSP community as well as a true visionary,” says Arthur Olshansky, CEO of Klik Solutions. “I’m glad to hear he will still be involved in moving things forward for Kaseya. Definitely tough shoes to fill but I am confident Kaseya will make the right choice.”
Matt Disher, CEO of Southwest Networks, had this to say: “Until they name a new CEO, which I am sure Fred will ensure is the best fit for Kaseya and the MSPs they serve, I am not worried.”
And Michael Goldstein, president of LAN Infotech, added, “Fred has done an amazing job changing the MSP landscape through Kaseya products. He set a great cornerstone in place with current management staff and I look forward to working with the next CEO. We know he will always be there for us.”
Next Stage For Kaseya
Kaseya’s next stage of growth will prepare the company for an IPO, said Mike Triplett, managing director at Insight Partners, in a press statement.
MSP Success had asked Voccola in April if the plan was to take the company public. At the time he replied, “Here’s what our bankers would say. Given our size, this company will be a publicly traded company at some point. But nothing has to happen. The chances are that will happen. Does that happen in the next 12 months? No. Does that happen in the next 36 months? Maybe. Is this a publicly traded company in the next five years? Yes, most likely.”
In May, Kaseya brought in Ryan Courson as CFO, who had spent time as a technology and software investor at Alpha Wave Global, Teton Capital, and Berkshire Hathaway. When MSP Success asked if he was brought on board to take the company public, he responded: “One of the things I always say, as the CFO, is that my role is to ensure that our stakeholders are always set up for success. And we’ll always be mindful of what that means from a future state of the business. But we are constantly focused on ensuring that all our stakeholders are set up for success and there are a variety of ways to ultimately achieve that outcome.”
Kaseya said that the incoming CEO, when appointed, “will continue to execute its a strategy to deliver a purpose-built, fully integrated platform that empowers multifunctional IT professionals via the Kaseya 365 offerings.”
