PALO ALTO, Calif., July 20, 2021 (GLOBE NEWSWIRE) -- Xage, the first and only zero trust real-world cybersecurity company, today announced record growth in customers and revenue. The number of Xage customers has doubled since June 2020, and the number of partners has increased by 400%. With revenues doubling from 2019 to 2020, and 2021 bookings forecasted to be triple 2020’s, Xage is significantly accelerating its impact on the cybersecurity of the world’s most critical operations.
“With zero trust now widely recognized as the most effective security approach, touted by NIST as well as the federal government, we are seeing demand growing rapidly,” said Duncan Greatwood, CEO of Xage. “Now that security is a top priority for so many organizations, we’re proud of the role we’re playing to keep customers out of the headlines. There’s a lot more work to be done, but I am optimistic for a future where we’ve turned the tide on ransomware and state-sponsored hacking, from the factory floor to the cloud.”
Xage was founded to secure operations that combine thousands of connected assets with digital applications that span operations, IT and the cloud. Xage blocks hacking attempts using the Xage Fabric, a mesh of software nodes that protects every machine, app, and data point within an operation to impose granular control over all digital interactions—an approach recently recognized by Gartner as a top strategic technology trend for 2021.
In addition to its Identity & Access Management and Dynamic Data Security solutions, Xage recently introduced the first-ever Zero Trust Remote Access (ZTRA) solution available via the cloud. Since then, dozens of organizations of all sizes—from ten employees to hundreds of thousands—have successfully adopted a zero trust security strategy to eliminate the risks associated with remote access and the convergence of operations, IT and the cloud. Such risks include stale account passwords—of the sort that opened up Colonial Pipeline to a devastating ransomware attack; the insecure unterminated protocols and out-of-date software that exposed the utility in Oldsmar, Florida to a water-supply-poisoning attempt; and the vulnerable remote connectivity software that led to a breach of the M.T.A.’s computer systems.
Organizations like Saudi Aramco, the U.S. Air Force, the U.S. Space Force and Murfreesboro Water have all gravitated towards Xage to mitigate the risk of cyber threats. Further, Xage’s partner count has increased 5X compared to last year to include 1898 & Co, a part of Burns McDonnell (the leading construction engineering company), Stratus, Agora, backed by Schlumberger, and more.
“All of our customers—from utilities, to oil pipelines, to chemical plants—are distributed in nature and essential to the public, making them prime targets for cyber attacks,” said Matt Morris, Managing Director of Security and Risk Consulting at 1898 & Co. “With equipment built in the 80s and 90s, and multiple parties involved in keeping their operations running, a zero trust security strategy is the only way for them to prevent a cyberattack from halting operations. So whether it’s to protect substation access or to secure autonomous ships, our partnership with Xage is invaluable.”
To learn more about the Xage Fabric and its role in preventing cyberattacks across operational, IT and cloud environments, visit https://xage.com/solutions/.
About Xage
Xage is the first and only zero trust real-world security company. The Xage Fabric accelerates and simplifies the way enterprises secure, manage and transform digital operations across OT, IT and cloud. Xage solutions include Identity & Access Management (IAM), remote access and dynamic data security, all powered by the Xage Fabric.
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