Managed Security Services Provider (MSSP) News: 22 January 2020

Each business day, MSSP Alert broadcasts a quick lineup of news, analysis and chatter from across that managed security services provider ecosystem.

1. Cyber Insurance - Rising Costs: U.S. insurers are ramping up cyber-insurance rates by as much as 25% and trying to curb exposure to vulnerable customers after a surge of costly claims, Reuters reports.

2. Talent & Growth: Cyderes, a Top 200 MSSP and the security-as-a-service division of Fishtech Group, has hired Chris Currin as chief business development officer (CBDO). The company offers Managed Detection and Response (MDR), Security Operations Center as a Service, Cloud Security as a Service, Red Team as a Service, and Security Incident Response services. Cyderes bookings grew 1,214 in 2019 vs. 2018, though actual revenue figures were jot disclosed.

3. Momentum - SIEM and SOAR: Siemplify, a provider of SOAR (security orchestration, automation and response) software, doubled its annual recurring revenue (ARR) in 2019 vs. 2018, and also doubled its customer installed base during the same time period, the company says. Specific revenue dollar figures were not disclosed. Siemplify's SOAR partners can expect to generate 20 percent to 25 percent profit margins, the company adds.

4. Insider Threat Detection and Response: GoSecure, a provider of managed detection and response (MDR) services and a predictive endpoint detection and response (EDR), has added insider threat detection and response (ITDR) capabilities to its portfolio.

5. SIEM Conference: Exabeam Spotlight20, the company's SIEM user  and partner conference, is confirmed for Octobner in San Francisco.

6. Endpoint Protection - Business Expansion: SentinelOne has opened a new office in Boston, Massachusetts. This is SentinelOne’s third office in the continental United States, and fifth office worldwide. The Boston location will house product, innovation, Vigilance MDR, marketing, and additional corporate functions to augment current teams in Mountain View, California; Eugene, Oregon; and overseas, the company says.

7. Compromised Credential Monitoring: Flashpoint, which specializes in Business Risk Intelligence (BRI), has launched Compromised Credentials Monitoring capabilities.

8. Security - IAM: OneLogin has launched the Trusted Experience Platform, an identity foundation that enables companies to provide secure, scalable and smart experiences, the company says.

9. Funding - Developer-First Security: Snyk has secured a $150 million investment, led by Stripes, a New York-based growth equity firm. This latest round follows a late 2019 fundraise of $70 million and increases Snyk’s total investment to $250 million and the company’s valuation to more than $1 billion, the company says.

10. Internal Security: Perception Point, a cybersecurity firm preventing file and URL based attacks, has launched an Internal Email Security product.

B. MSSP Partnerships and Strategic Alliances

1. Talent - Secure Web and Application Access: Ericom Software has hired Oracle veteran Simon Moran as VP of business development; Zscaler & Symantec veteran Michael Santacross as director of channels, Americas; and Symantec veteran Matthew Howes as director of channels, EMEA.

2. Cisco Partner - PCI Compliance: PCI Pal, a secure payments provider to contact centers and businesses taking Cardholder Not Present (CNP) payments, has been selected as a Preferred Solution Partner by Cisco Systems.

3. Distribution: Carahsoft Technology has agreed to distribute Secureworks’ managed network and endpoint security solutions to commercial organizations directly through Carahsoft and through the company’s reseller partners. Carahsoft also serves as a master government aggregator for Secureworks, supporting all public sector business across Federal, state and local governments and education institutions.

4. All Partner Programs: Search the comprehensive ChannelE2E Partner Program Database here. Also, submit your company information here and your partner program can be listed in the database.

C. Next Five Cybersecurity Conferences