Kaseya, a leading global provider of AI-powered cybersecurity and IT management software, recently announced CEO Fred Voccola will step up into the role of Vice Chairman. He will focus on long-term innovation and strategy while helping the board hire a new CEO to run day-to-day operations as Kaseya enters its next phase of growth and lays the foundation for a potential public offering.
In 10 years under Voccola’s leadership, Kaseya has achieved remarkable growth, solidifying its position as the clear market leader for small business IT and security. Since 2015 the company has grown from a single-product provider into a comprehensive platform with over $1.5 billion in annual recurring revenue (ARR).
In this discussion, Fred reflected on his transition from CEO to chairman and his commitment as the largest individual shareholder and vice chairman, noting the positive changes in his daily routine that allow for greater flexibility. He outlined two significant trends: the growth of small to mid-sized businesses and their increasing access to enterprise-level technology, which underscores the essential role of MSPs in this environment.
Fred also addressed the challenges faced by MSPs, particularly their low profit margins, which average around 10%. He explained Kaseya’s approach to creating a comprehensive platform that integrates various tools to help MSPs automate processes and reduce costs, aiming to improve their profit margins to 30-35%. He also discussed the concept of vendor fatigue among MSPs and Kaseya’s commitment to enhancing their profitability, especially during challenging times like the COVID-19 pandemic. The company has reportedly generated over $1 billion in savings for MSPs, enabling them to invest in their businesses.
The conversation also touched on the integration of Kaseya’s acquired products and the operational efficiencies that need to be achieved. Fred presenteed Kaseya’s business model, which allows for lower charges due to the recovery of sales and marketing costs, enabling significant investment in research and development. He drew parallels to Microsoft’s integrated software strategy, emphasizing the time and resource savings for users. Additionally, he highlighted the growing influence of AI on MSP operations, detailing Kaseya’s initiatives that include over 350 automation bots designed to streamline workflows and enhance productivity.
More on this transition can be found here: https://www.e-channelnews.com/fred-voccola-steps-into-vice-chairman-role/
