In surprise move, Goldman Sachs-backed email cloud service provider Agari said that its Founder and Executive Chairman Patrick Peterson has also become the Chief Executive Officer (CEO) replacing company's CEO Ravi Khatod, who joined Agari in June of 2016.
The Fortune reported that Vidur Apparao, Agari's chief technology officer since 2013 has also exited the company at the end of last year. Peterson, who founded Agari in 2009 and served as CEO until 2016, is considered the father of DMARC, a key open standard for confirming email authenticity.
During his nearly three years as Executive Chairman, Peterson held innovation-focused operating roles at Agari touching product strategy, industry thought leadership, and go-to-market relationships with customers and partners.
Under Khatod's leadership as CEO, Agari tripled annual recurring revenue (ARR) and substantially increased enterprise valuation culminating in a $40 million growth equity round led by Goldman Sachs in June of 2018.
“I want to thank Ravi for the many contributions he delivered during his nearly three years leading Agari,” said Peterson.
“I am honored to have the unique opportunity to lead Agari once again after staying close to our business over the past three years. We are a substantially bigger business now, delivering even more customer value through a leading set of product offerings. My focus will continue to be on investing in the next-generation Secure Email Cloud and enabling our many customers and partners around the world to be successful.”