CyberMDX Delivers Record 300% Revenue Growth Year Over Year for 2020
Industry veteran Azi Cohen announced as CEO to accelerate momentum in 2021
01 Feb, 2021, 09:14 ET
NEW YORK, Feb. 1, 2021 /PRNewswire/ -- CyberMDX, a leading healthcare cybersecurity provider delivering visibility and threat prevention for medical devices and clinical networks, today announced the appointment of industry veteran Azi Cohen as CEO of the company to build on record 300% YoY growth in revenue. As part of the announcement, the company is launching a new brand image and website as well as introducing a new architecture for healthcare security.
A veteran of the IT and cybersecurity industries for more than 25 years, Azi Cohen joins CyberMDX from WhiteSource Software, a global leader in open source security software, where he was the Co-founder & SVP Global Sales and successfully built the customer base to over 1,000 clients worldwide. Prior CEO and Co-founder Amir Magner passes the mantle to Azi so he can focus on expanding CyberMDX research, development and operations and extending its lead as an IoT Security innovator.
As part of the continued momentum for 2021, CyberMDX is introducing a new paradigm for medical network and device security called Device-Centric Risk Management (DCRM). The new architecture will center on a layered approach to cybersecurity that protects each device, driving remediation and mitigation directly on your medical and Internet of Medical Things (IoMT) assets.
In addition, CyberMDX also is live today with a rebranded website which provides a wide range of educational and technical resources on healthcare security. The company also introduces its new tagline - We protect the Things that protect Human Lives.
"Following a year of tremendous growth for us in 2020, we are now ready for the next phase of our global go-to-market strategy," said Amir Magner, President and Co-founder of CyberMDX. "Azi has a proven track record for accelerating companies in their growth stage so I'm delighted he has joined us as our new CEO. He will be based in our NY headquarters and I will be collaborating closely with him from our Product, R&D and Operations center in Tel Aviv."
"It's a great privilege to join CyberMDX," said Azi Cohen, CEO of CyberMDX. "It's clear from the major increase of ransomware attacks against hospitals and medical networks, that we must raise the bar for cybersecurity in the industry as a whole. For me, this was a big part of my decision to join. In addition to an amazing product and team, the primary mission to protect the things that protect human lives is one that compels me and has personal significance."
On top of the company's leading solution, CyberMDX also employs a highly accomplished Vulnerability Research and Analyst team. The team regularly works with medical device manufacturers, healthcare organizations, as well as government bodies in the responsible disclosure of security vulnerabilities. The threat intelligence team dedicates its efforts to defending hospitals and healthcare organizations from malicious attacks and in 2020 alone responsibly disclosed major vulnerabilities in medical devices such as patient monitors, 104 different radiological devices, as well as Dell Thin Wyse devices common to healthcare organizations.
CyberMDX 2020 Highlights
- Increased revenue by over 300% YoY
- Raised $20m in new funding
- Major customer wins included a large multi-site health system serving more than 20 US counties in over 30 medical specialties, as well as new deployments in Canada, France, and Spain.
- 100% renewal rate -- among them several expansions with increased deployment size and multi-year investments
- Announced a major partnership with Royal Phillips to provide vendor-neutral solutions to protect connected medical systems and devices as part of Phillips' new integrated cybersecurity services
- Expanded global footprint in Europe and Asia through major partnerships with Sham/Relyens and Verint Singapore
- Announced CyberMDX Healthcare Security Suite availability on AWS marketplace
- Announced integration with Microsoft Azure Security Center for IoT
- Announced joint solution with Check Point - integrated with gateway and policy management
- Named a leader in Forrester's New Wave report for Medical Device Security (2020)
- Named Connected Medical Device Leader for North America (2020) by Frost & Sullivan.
- Included in the Gartner 2020 Market Guide for Medical Device Security Solutions Published 7 December 2020
CyberMDX is an IOT security leader dedicated to protecting the quality care of health delivery worldwide. CyberMDX provides cloud-based cybersecurity solutions that support the advancement of The Internet of Medical Things. The CyberMDX solution identifies endpoints and assesses vulnerabilities to detect, respond to, and prevent cyber incidents. Deployed worldwide, CyberMDX is designed to integrate with our customers' existing environments through its scalable, easy-to-deploy and agentless solution.
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