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Demand for Zero Trust Cybersecurity Mesh in Operational Enterprise Environments Drives 420% Revenue Growth for Xage Security

By: Xage Security via GlobeNewswire

September 06, 2023 at 06:00 AM EDT

PALO ALTO, Calif., Sept. 06, 2023 (GLOBE NEWSWIRE) -- Xage Security, the leader in zero trust cybersecurity solutions for the real world, today reported that demand for its zero trust cybersecurity mesh platform across critical infrastructure industries has driven year-over-year revenue growth of 420% in the first half of 2023 and a 560% growth in bookings over the same period. To guide its next phase of growth, Xage has named entrepreneur and cybersecurity executive Geoffrey Mattson as CEO, who brings decades of experience as a leader in R&D, product development, and go-to-market (GTM).

Mattson’s predecessor, Duncan Greatwood, has assumed the role of Executive Chair of the Xage board. Greatwood will support Mattson in his leadership of Xage and contribute to the company’s vision and strategic direction as Xage accelerates its product and GTM investments. Xage’s customers include the world’s leading infrastructure operators in energy, such as Kinder Morgan, Saudi Aramco, PETRONAS, Leeward Renewable Energy and Petrobras; U.S. Federal Government and Defense entities, including contracts with Space Force and Air Force; and manufacturing, utilities, and transportation organizations across the globe. Xage also works to secure clean energy resources as a member of the U.S. Department of Energy’s National Renewable Energy Laboratory’s Clean Energy Cybersecurity Accelerator program.

“Geoff’s background is deeply rooted in both networking and cybersecurity, which positions him to appreciate what the Xage team has accomplished to date and to drive towards a future that is brimming with opportunities to ensure integrity, privacy and trust of industrial systems, data centers, and cloud,” said Duncan Greatwood, Xage Executive Chair. “With Geoff, we have a combination of visionary technical and product leadership, great experience building organizations, and excellent skills in engaging with customers and scaling GTM. We welcome him aboard to lead Xage on to even greater success.”

Xage has pioneered a mesh-based cybersecurity platform called the Xage Fabric to protect critical infrastructure operators around the world. The Fabric’s innovations include Multi-layer Identity & Access Management and Multi-User Session Collaboration, both released in the past year. The Fabric positions Xage at the intersection of Zero Trust Network Access and Cyber-Physical Systems Protection markets, as cited by Gartner. The company currently protects 34+ million megawatt hours of energy transported daily, more than one million assets and identities, and thousands of operational sites globally. Xage has received numerous industry awards validating its vision and technology, including being named to the 2022 SINET16 list of prestigious cybersecurity startups and winning the 2023 IoT Breakthrough Award for Industrial IoT innovation. Earlier this year, Xage was also appointed to CISA’s Joint Cyber Defense Collaborative (“JCDC”) industrial control systems (“ICS”) working group, a partnership between US government agencies and private sector organizations focused on protecting operational technology. By leveraging innovative approaches and zero-trust security, Xage is helping to defend U.S. critical infrastructure against growing threats.

“It’s clear that the adoption of universal zero trust security is more critical than ever before and that the Xage platform is perfectly aligned with the demands of the moment,” said Geoffrey Mattson, CEO of Xage Security. “It’s a tremendous time to join this world-class team with its agent-free mesh-protected security Fabric that has positioned the company as a leader in an increasingly interconnected world. I’m thrilled to take the helm at Xage and to support all our customers as they move to cyber harden their infrastructure and securely harness the power of digital transformation.”

Mattson comes to Xage from MistNet.ai, an AI-driven Cybersecurity platform, where he was a co-founder and CEO. MistNet.ai was acquired by Thoma Bravo and LogRhythm. Previously, he led R&D and Product organizations in network and security startups focused on cloud-based security services, including Corona and Caspian. In addition, Mattson has worked for established companies like Juniper Networks in both general management and functional roles, accelerating innovation and growth. Earlier in his career, Mattson spearheaded networking and telecommunication product initiatives at Bay Networks, where he led architecture, industry standards, and global GTM efforts.

For more information on Xage product innovations, including the Xage Fabric’s industry-first multi-layer identity-based access management and secure multi-user session collaboration, please visit https://xage.com/products.

About Xage Security
Xage is the first and only zero trust real-world security company. Xage’s solutions and services accelerate and simplify the way enterprises secure, manage and transform digital operations across OT, IT, and cloud. Xage products include identity-based access management, remote access, and zero trust data exchange, all powered by the Xage Fabric. Xage also offers Cybersecurity Services, which deliver expert design, implementation, and support services to accelerate the adoption of proactive cyber-defense and underpin secure digital transformation.

Xage PR Contact
xage-security@inkhouse.com