BOSTON--(BUSINESS WIRE)--CyberX, the IoT security company, today announced record growth in 2019, tripling bookings year-over-year and securing a series of impressive Global 2000 customer wins. Additional achievements include new partnerships with premiere channel partners and technology providers, and new, innovative IoT-aware behavioral analytics and threat intelligence capabilities.
With the IoT market expected to grow to tens of billions of endpoints in 2020, smart devices are increasingly viewed as soft targets by cybercriminals and nation-state actors seeking to disrupt corporate and Operational Technology (OT) networks. CyberX’s strong growth correlates with growing board-level concerns about the financial, safety, and intellectual property risks posed by these unpatched and unmanaged devices — and the subsequent need for organizations to have deeper visibility into their IoT risk posture.
“2019 was a pivotal year for CyberX as we continued to capitalize on this massive market opportunity and successfully execute on our aggressive growth objectives,” said Omer Schneider, co-founder and CEO of CyberX. “We look forward to continuing to help our clients accelerate their digital transformation initiatives without sacrificing security.”
Added Nir Giller, co-founder, GM International, and CTO of CyberX: “Our agentless platform has quickly gained a reputation for being the simplest and most robust solution for reducing IoT risk. Customers also benefit from the specialized expertise and best practices we’ve gained from deployments in some of the world’s largest and most complex IoT/OT environments. Customers and partners tell us these are some of the key reasons why we continue to be chosen by more enterprises worldwide.”
Global 2000 Customer Wins
CyberX clients include leading Global 2000 enterprises across all vertical sectors and geographies. During 2019, CyberX demonstrated a 100% customer retention rate while achieving a series of notable customer wins. Some examples of the company's customer base include:
- Three of the top 10 global pharmaceutical companies
- Four of the top 10 global telecommunications companies
- Three of the top 10 U.S. energy utilities
- Two of the top five French manufacturers
- Two of the top 20 Japanese enterprises
- A top five Indian conglomerate
- Multiple government agencies
Global Market Expansion via Growing Partner Ecosystem
During 2019, CyberX launched its XCELERATE partner program and expanded its go-to-market presence by partnering with leading channel partners, MSSPs, and systems integrators including: DXC Technology, IBM Security, Optiv Security, Orange Business Services, Presidio, Thales, Toshiba Digital Systems, Trustwave, T-Systems, and World Wide Technology.
Recognizing that CISOs are seeking a unified approach to IT, IoT, and OT security monitoring and governance, CyberX has become a Microsoft partner and integrated its platform with Microsoft Azure Security Center for IoT. The company also expanded its technology integration partnerships to now include leading IT security providers such as: Aruba Networks, Cisco, CyberArk, Fortinet, IBM, McAfee, Microsoft, Palo Alto Networks, RSA, ServiceNow, and Splunk.
In 2019, CyberX continued to be a leader in IoT/OT security innovation, building on the industry’s only patented, M2M-aware behavioral analytics for identifying IoT/OT threats faster and with greater accuracy. Notable technology advancements include:
- Extending the company’s established OT security platform to support enterprise IoT devices, such as printers, routers, CCTV cameras, building access control systems, smart thermostats, and Bring-Your-Own-Device (BYOD) endpoints, via a new cloud-based service.
- Ganymede, the industry’s only IoT/OT-aware, automated threat intelligence platform. Developed by CyberX’s Section 52 threat intelligence team, Ganymede ingests massive amounts of data from a range of open and closed sources, using machine learning and a proprietary IoT/OT-aware sandbox to identify IoT/OT malware and APT campaigns.
- Horizon, the industry’s only Open Development Environment (ODE) and SDK, enabling customers and partners to develop proprietary protocol dissectors for the CyberX platform without divulging sensitive information about how the protocols are designed.
- The first native IoT/OT security application for Palo Alto Networks Cortex, an AI-based continuous security operations platform that extends next-generation security into the cloud, bringing additional context, speed, and precision to threat investigation and threat hunting.
Third Annual “Global IoT/ICS Risk Report” Published
In 2019, CyberX released its third annual Global IoT/ICS Risk Report, a data-driven analysis of real-world vulnerabilities observed in more than 1,800 production IoT/ICS networks worldwide. The report has become a de facto “Verizon DBIR” for understanding the prevalence of common risks in IoT/ICS networks such as unencrypted passwords, outdated operating systems, and indicators of threats.
During 2019, CyberX’s innovative approach to IoT security received recognition from leading organizations including:
- Network World’s “Hot IoT Security Startup to Watch” — Winner
- 2020 Cybersecurity Excellence Awards — Gold winner in the Best IoT Security and Best ICS/SCADA Security categories for the second year in a row; Gold winner for Most Innovative Cybersecurity Company and Best Cybersecurity Company categories
- 2020 SC Awards— Best SCADA Security Solution Finalist
Funded by Norwest Venture Partners, Qualcomm Ventures, and other leading venture firms, CyberX delivers the only cybersecurity platform built by blue-team experts with a track record of defending critical national infrastructure. That difference is the foundation for the most widely deployed platform for continuously reducing IoT risk and preventing costly outages, safety and environmental incidents, theft of intellectual property, and operational inefficiencies. For more information, visit CyberX.io or follow @CyberX_Labs.