Xage’s core offering lays on top of existing environments ostensibly without the need for network changes, either as a part of an on-prem or software-as-a-service installation. Xage “sees” device interactions and data movement and changes on a company’s network, spotting policy violations and executing security policies like invoking multi-factor authentication for system logins from unknown locations.
Xage certainly isn’t alone in the market for platforms to secure IoT and industrial systems. Dragos is perhaps its biggest rival — at least on the startup front. But Xage has done well for itself where it concerns customer acquisition, securing a $17 million contract with the U.S. Space Force and a $743,000 contract with the U.S. Air Force.
Xage’s other clients include infrastructure operators in energy, manufacturing, utilities and transportation. Mattson claims that the ~90-employee startup’s revenue grew 420% while bookings grew 560% in the first half of 2023 year-over-year.
“When the pandemic first hit, Xage saw a short pause in demand as customers tried to sort out their own businesses,” Mattson said. “Luckily, Xage had a comfortable runway as companies are seeing information and data security as key to their continued operations.