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Managed Security Services Provider (MSSP) Market News: 15 February 2023

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Each business day, MSSP Alert delivers this quick lineup of news, analysis and chatter from across the managed security services provider ecosystem.

  • The Content: Written for MSSPs and MSPs; threat hunters; security operations center as a service (SOCaaS), managed detection and response (MDR), and eXtended detection and response (XDR) providers — and those who 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 Managing Editor Jim Masters: [email protected].

A. Today’s MSSP, MDR, XDR and Cybersecurity Market News

1. Product Launch: Cloudian has integrated its HyperStore object storage with the new Veeam Data Platform. The Veeam Data Platform lets customers simplify their data protection workflow by storing data directly to Cloudian object storage. The new offering enhances ransomware protection by immediately moving data to a storage platform that is protected from hacker encryption.

2. Cybersecurity Research: (ISC)² has released its Cybersecurity Workforce Study, conducted annually to assess the size of the current cybersecurity workforce as well as the existing talent shortage. The report provides insights into the challenges and opportunities cybersecurity companies face, including a global workforce gap of 3.4 million people and fresh perspectives about hiring, corporate culture, job satisfaction, career pathways, professional development and the future of cybersecurity work.

3. Deepwatch Gains Investment: Deepwatch, a specialist in advanced managed detection and response (MDR) security, has received $180 million in equity investments and strategic financing from Springcoast Capital Partners, Splunk Ventures and Vista Credit Partners. The combined capital will enable Deepwatch to accelerate platform innovation and product development while expanding its partner ecosystem to meet the growing demand for managed security services.

4. Oligo Security Exits Stealth: Oligo Security has exited stealth with $28 million in funding for its runtime application security and observability solution, which allows enterprises to detect and prevent open source code vulnerabilities in their applications without affecting performance. Founded by CEO Nadav Czerninski and other former officers in the Israel Defense Force's elite cyber units, Oligo Security applies their expertise in application security to bring precision and accuracy to AppSec.

5. Leadership Moves: Brinqa, a cyber risk management provider, has made two leadership appointments, naming Mayuresh Ektare as senior vice president of product management and Dimitri Vlachos as chief marketing officer. Between them, they have decades of experience leading successful, high-performing teams in cybersecurity, the company said.

6. ShiftLeft Rebrands as Qwiet AI: ShiftLeft, a provider of artificial intelligence-powered detection of vulnerabilities in code, has completed an extensive rebranding effort to accelerate the company's growth and a sharpening of its corporate vision. At the heart of the rebranding is the change of the company name to Qwiet AI — to reflect its ability to reduce the noise inherent in the AppSec space, the company said.

7. Industry Recognition: Frost & Sullivan has recognized CrowdStrike with the 2022 Global Company of the Year Award in Cyber Threat Intelligence. "CrowdStrike has more than 10 years in the Cyber Threat Intelligence industry, and it continues to dominate in this space," said Clara Dello Russo, senior research analyst for Frost & Sullivan's Cybersecurity Program. "Its threat intelligence is actionable, automated, and built into daily workflows, powering the company's broad cybersecurity portfolio."

8. Ransomware Alert: Hackers conducting a new financially motivated campaign are using a variant of the Xortist commodity ransomware named "MortalKombat" together with the Laplas clipper in cyberattacks. Both malware infections are used to conduct financial fraud, with the ransomware used to extort victims to receive a decryptor and Laplas to steal cryptocurrency by hijacking crypto transactions. (Source: Bleeping Computer)

9. Product Launch: FireMon, a security policy management company, has released its FireMon Policy Analyzer, a firewall assessment tool that provides organizations with a comprehensive diagnostic report outlining the health of a firewall policy, complete with best practices and suggestions to improve their security posture.

B. Annual In-Person MSSP and Cybersecurity Conferences

Jim Masters

Jim Masters is Managing Editor of MSSP Alert, and holds a B.A. degree in Journalism from Northern Illinois University. His career has spanned governmental and investigative reporting for daily newspapers in the Northwest Indiana Region and 16 years in a global internal communications role for a Fortune 500 professional services company. Additionally, he is co-owner of the Lake County Corn Dogs minor league baseball franchise, located in Crown Point, Indiana. In his spare time, he enjoys writing and recording his own music, oil painting, biking, volleyball, golf and cheering on the Corn Dogs.