Managed Security Services Provider (MSSP) News: 09 February 2022
Each business day, MSSP Alert broadcasts a quick lineup of news, analysis and chatter from across the managed security services provider ecosystem.
- The Content: Written for MSSPs, SOC as a Service (SOCaaS), Managed Detection and Response (MDR), eXtended Detection and Response (XDR), threat hunters and MSP security providers — and those who need to partner with such companies.
- Frequency and Format: Every business morning. Typically one or two sentences for each item below.
- Reaching Our Inbox: Send news, tips and rumors to Editorial Director Joe.Panettieri@CyberRiskAlliance.com. Thank you in advance for news tips.
A. Today’s MSSP, MDR, XDR and Cybersecurity News Alerts
1. Meet MSSP Alert This Week: We’re attending the Right of Boom security conference through this Friday. If you’re at the event and would like to potentially meet then please email me (Joe.Panettieri@CyberRiskAlliance.com).
2. Funding – Vulnerability Remediation: Vicarius, developers of an autonomous vulnerability remediation platform, has raised 24 million in Series A funding. AllegisCyber Capital, JVP, and AlleyCorp led the round. Executives from Okta, SecurityScorecard, and Exabeam providing capital as well.
3. Funding – Operational Technology (OT) Security: Shift5 has raised $50 million in a Series B funding to “protect against increasing cyber-physical threats against planes, trains, and weapon systems,” the company said. Insight Partners led the round.
4. Research – Mergers and Acquisitions: The cybersecurity market generated $77.5 billion in M&A volume and $29.3 billion in private equity and venture capital investments, according to Momentum Cyber’s Cybersecurity Almanac 2022.
5. Research – Zero Trust Is Effective: Optiv’s findings are here.
6. Momentum – Managed Detection and Response (MDR): Deepwatch sales grew 50 percent year-over-year in 2021 vs. 2020. Also, more than two-thirds of customers (68%) expanded their service with Deepwatch in 2021 with endpoint detection and response (EDR) or vulnerability management (VM) services in addition to MDR. Plus, company headcount nearly doubled to more than 400 employees. Deepwatch did not disclose actual revenue dollar figures.
7. Momentum – SIEM (Security Information and Event Management): Gurucul achieved 480% year-over-year (YoY) sales growth and 92% growth in annual recurring revenue in 2021. Actual dollar figures were not disclosed, so it’s difficult to put the growth figures in proper context.
8. MDR and SOAR: Alert Logic is testing a new “simple mode” for embedded SOAR and mobile application capabilities. Alert Logic MDR beta customers have access to “an intuitive, wizard-based user interface that allows for configurable, human-guided and fully automated workflows for rapidly responding to incidents,” the company said.
9. eXtended Detection and Response (XDR) and Cloud Security: Cybereason has released Cybereason XDR for Cloud Workloads. The software offers runtime protection, detection and response for cloud workloads and containers.
10. Talent – XDR: Trellix has named Michael Alicea as chief human resource officer; Tara Flanagan as general counsel; and Adam Philpott as chief revenue officer. Trellix is the combination of McAfee Enterprise and FireEye.
11. Talent – Identity and Access Management: SecureAuth has named Paul Trulove as CEO and Mandeep Khera as the chief marketing officer (CMO). The executive updates surfaced after SecureAuth’s recent acquisition of Acceptto.
12. Flash Storage vs. Ransomware: IBM has unveiled the IBM FlashSystem Cyber Vault to “help companies better detect and recover quickly from ransomware and other cyberattacks.”
13. Partnership – Financial Services Risk Management: A TruSight-ServiceNow Vendor Risk Management integration “aims to improve the efficiency of customers’ third-party risk management (TPRM)-related workflows,” the two companies said.
15. Partner Program – Incident Response: NetWitness, an RSA business, has unveiled a new Partner Program for channel resellers, distributors, and managed security service providers (MSSPs). Additionally, RSA and NetWitness veteran Corné van Rooij has been promoted to lead NetWitness’ worldwide channel organization.
16. Partnership – Governance, Risk and Compliance (GRC): MorganFranklin Consulting and OneTrust have inked a strategic partnership to assist end-customers with privacy, security, data governance, GRC, third-party risk, ethics, and ESG programs.
17. Partnership – Email Security and Cyber Insurance: Armorblox and Coalition have partnered to offer customers email security and cyber insurance to “protect organizations from cyber threats such as business email compromise (BEC), email account compromise (EAC), and phishing attacks,” the two companies said.
18. Will Russia Target Banks?: The European Central Bank is preparing banks for a possible Russian-sponsored cyber attack as tensions with Ukraine mount and the region braces for the financial fallout of any conflict, Reuters reported.