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Managed Security Services Provider (MSSP) Market News: 18 January 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, 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 Managing Editor Jim Masters: [email protected].

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

1. Leadership Move: Lumu, creators of the Continuous Compromise Assessment cybersecurity model, has appointed Joe Breen has been appointed as chief revenue officer to lead revenue growth and alignment between revenue-related functions. Prior to joining Lumu, Breen was chief revenue officer for Nuspire.

2. Qmulos Adds 3 Execs: Qmulosa next-generation compliance, security and risk management automation provider, has named three senior level executives to build out the company's leadership team. The new hires include Nick Jovanovic, chief revenue officer; Theresa Feraren, vice president of marketing; and Russ Odom, chief financial officer.

3. New Penetration Testing Research: Lares, a leader in global security assessment, testing and coaching, has released new research highlighting the five most common penetration testing findings encountered by the firm's consultants over hundreds of client engagements in 2022. Lares' Top 5 Penetration Test Findings in 2022 research paper is available for download.

4. Xage Announces Expansion: Xage Security has opened new offices in Dubai, United Arab Emirates and Riyadh, Saudi Arabia. Xage also announced the appointment of Ray Kafity as vice president to lead the regional team and spearhead the strategic expansion. Xage has also partnered with Dubai-based CyberKnight, a zero trust cybersecurity distributor.

5. Russian Cyberattack Reported: Russian hackers allegedly targeted a Ukrainian organization on January 17 shortly before it hosted a press briefing about the ongoing cyberattacks in the country — a clear example of the near-constant digital warfare Ukrainians are facing during Russia's war in Ukraine. (Source: Axios)

6. Binary Defense Launches Partner Program: Binary Defense, a managed detection and response (MDR) and enterprise defense provider, has launched its enhanced Shield Partner Program for all channel partners.  The Shield Partner Program provides value-added resellers, system integrators and managed security services providers (MSSPs) with pricing incentives, marketing resources and sales support to increase their revenue and margins.

7. CISO Research Report Released: Coalfire has released its second annual State of CISO Influence report, which explores the expanding influence of chief information security officers (CISOs) and other security leaders. The report revealed that the CISO role is maturing quickly, and the position is experiencing more equity in the boardroom.

8. Product Launch: DoControl, a software-as-a-service (SaaS) security company, has launched its comprehensive Shadow Apps solution. Building on prior innovations that address mission-critical use cases, DoControl’s newest module introduces shadow SaaS application discovery, monitoring and remediation to better protect businesses from SaaS supply chain attacks.

9. Cybersecurity Law Practice Launched: With the Securities & Exchange Commission proposing tighter cybersecurity requirements for hedge funds and other asset managers, Cole-Frieman & Mallon LLP has launched a cybersecurity law practice. The practice is dedicated to advising investment managers on their cybersecurity obligations. To lead the practice, the firm has welcomed back John Araneo, its former partner and cybersecurity expert.

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.