XM Cyber Accelerates Expansion into US and Significantly Increases Total Contract Value (TCV) in 2023

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Feb 12, 2024, 08:00 ET

Veteran Sales Executive Kent Rounds, formerly of Crowdstrike, joins as XM Cyber VP US Sales, to unlock the potential of key partnerships and to continue US expansion

HERZLIYA, Israel, Feb. 12, 2024 /PRNewswire/ -- XM Cyber, the leader in hybrid cloud exposure management, today announced significant growth in 2023 with new Total Contract Value increasing by more than double and new Annual Recurring Revenue growing by 189%, compared to 2022. 2023 also saw the addition of multiple strategic hires to the US team. These accomplishments are attributed to major partnerships, and continued technological innovation and excellence.

Accelerated YoY Growth
In 2023, XM Cyber increased its average deal size through the channel and expanded its partner ecosystem through distribution agreements in North America, Europe, the Middle East, and Asia-Pacific. The company also more than doubled its number of new customers, signing significant customers including strategic partnerships with SAP, SB C&S (part of the SoftBank Group), and FC Bayern Munich, demonstrating impressive momentum going into 2024.

"With the significant growth in new total contract value (TCV) and new customers, and a 112% Net Retention Rate, all indicators are flashing green for XM Cyber as we move into 2024," said Noam Erez, CEO and Co-founder, XM Cyber. "Our robust growth over the last year is a testament to the strength of our partnerships and the innovative technology, which have enabled us to improve the security posture of enterprises around the world."

Strategic Additions to the US XM Cyber Team
To guide the company's rapid growth in the US, XM Cyber hired veteran sales exec Kent Rounds as Vice President Sales, North America. Prior to joining XM Cyber, Rounds served as Vice President of Sales Threat Intelligence for Crowdstrike and Senior Vice President Sales at McAfee/Intel. "I'm thrilled to join XM Cyber to spearhead North American sales as we help customers reduce risk across their increasingly complex environments," said Rounds. "I look forward to working with this great team to build on this momentum and reach new heights in 2024."

The US Sales team has grown threefold under Round's mentorship, a testament to the increased awareness of the importance of leveraging a CTEM-based approach. The company also welcomed Alexei Rubinstein as Vice President, Global Sales Engineering. Hailing from companies including Rapid7 and Verint, Rubinstein will nurture and develop the sales engineering teams across the regions.

To learn more, please visit: https://www.xmcyber.com/

About XM Cyber
XM Cyber is a leading hybrid cloud exposure management company that's changing the way organizations approach cyber risk. XM Cyber transforms exposure management by demonstrating how attackers leverage and combine misconfigurations, vulnerabilities, identity exposures, and more, across AWS, Azure, GCP, and on-prem environments to compromise critical assets. With XM Cyber, you can see all the ways attackers might advance, and all the best ways to stop them, pinpointing where to remediate exposures with a fraction of the effort. Founded by top executives from the Israeli cyber intelligence community, XM Cyber has offices in North America, Europe, APAC-Japan and Israel.

Media Contact:
Danielle Scotto for XM Cyber
ICR Lumina
[email protected]

SOURCE XM Cyber