As we approach the close of 2023, it marks a moment for reflection, assessing our achievements, and expressing gratitude to those whose trust and collaboration have propelled OX Security forward. Despite the twists and turns, our team exhibited resilience, innovation, and substantial growth throughout the year. This success is a testament to the unwavering support and loyalty of our valued customers, partners, investors, and dedicated employees. I fondly look back on 2023:
We founded OX to address evolving market dynamics, evidenced by gaps in application security coverage and challenges in tackling threats. I often hear about engineering pushback rooted in concerns about issue reliability, which hampers threat closure, emphasizing the personal stakes in ensuring a secure environment. Customers often tell us current solutions leave their AppSec teams with a myriad of tools that don’t provide full coverage of the software supply chain, leading to higher costs, poor risk prioritization and inefficient remediation. It doesn’t need to be this way. It’s become our mission to bridge these gaps, allowing our customers to focus on innovation.
We know many companies are out there trying to solve this same problem, but we are committed to continuously innovating. We’ve rolled out several new product innovations, including implementing 19 integrations this year – enhancing our ecosystem with commercial scanning tools, source controls, CI/CDs, and artifacts. In the platform, we introduced policies, compliance support, and innovations like ChatGPT integration and one-click fixes for Git posture issues.
Our research team has elevated our prioritization strategies, introducing innovative severity factors, or what we refer to as active context sensors. These include features like detecting active secrets in code, assessing reachability to identify exposed vulnerabilities in deployed containers, and gauging the functionality of open-source packages. Responding to industry needs, language, and package manager support expanded to 19 and 29, respectively.
Introducing the industry’s first Attack Matrix for Software Supply Chain Security – OSC&R was a true highlight. This open framework, developed with cybersecurity experts from leading companies, establishes a common language for evaluating threats to entire software supply chains. Integrated into our platform, OSC&R maps all issues to its tactics and techniques, enhancing our commitment to cybersecurity.
Industry Awards & Analyst Recognition
Our dedication to innovation received meaningful validation through prestigious awards and recognition. Inclusion in the SINET 16 and being named a Gartner Cool Vendor in Platform Engineering for Scaling Application Security Practices underscore our approach to advancing application security. Additionally, acknowledgment in five Gartner Hype Cycles demonstrates our agility in navigating evolving market trends, inspiring us to continue pushing boundaries.
Broadening Our Network
Expanding our presence across the US and Europe enabled quadruple-digit ARR growth and a 10x increase in our customer base. This milestone reflects our team’s dedication and our customers’ trust. Strategic partnerships with industry giants like AWS and Microsoft, a strategic investment from IBM Ventures, and funding from Team8 and Evolution Equity Partners solidify our position as a critical player in the industry.
Strengthening Our Team
My highlight is expanding our team to almost 100 employees, including sales, marketing, and finance executive hires. These additions bring extensive experience and expertise, enhancing our capabilities and reinforcing our commitment to delivering exceptional services to our clients. As we invest in our team, these strategic hires will play a pivotal role in propelling our company to new heights of success.
To everyone who has been part of our journey, thank you. Your ongoing support has been the driving force behind our acceleration. Together, we’ve faced challenges, celebrated victories, and embraced innovation. As we collectively reflect on the highlights of the year, it is evident that our shared dedication has been the catalyst for our growth and success.
I wish everyone a joyous, safe, and Happy New Year!