Managed Security Services Provider (MSSP) News: 06 October 2020 -

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) and MSP security providers — and those who need to partner up 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 [email protected].

A. Today’s MSSP Alerts

1. SBA PPP Loans - M&A Complications?: If your cybersecurity company received a PPP (paycheck protection program) loan, read the updated SBA guidance before pursuing mergers and acquisitions.

2. Talent - Crowdsourced Cybersecurity: Bugcrowd has hired David Castignola as chief revenue officer (CRO). Castignola is responsible for Bugcrowd’s overall revenue generation engine, overseeing the company’s global sales and partner channel teams. He reports to CEO Ashish Gupta.

3. Funding - Application Security: Onapsis has raised $55 million in Series D financing led by Caisse de dépôt et placement du Québec (CDPQ) and NightDragon with participation from existing investors .406 Ventures, LLR Partners and Arsenal Venture Partners. The investment will be used to significantly scale the company beyond Oracle and SAP application security to address the SaaS applications market, starting with protection and compliance for Salesforce and SuccessFactors applications, Onapsis says.

4. Funding - Compliance Automation: Strike Graph, a compliance automation startup, has raised $3.9 million in seed funding, led by Madrona Venture Group with participation from Amplify.LA, Revolution’s Rise of the Rest Seed Fund and Green D Ventures. The company was founded by Justin Beals and Brian Bero, serial entrepreneurs with expertise in AI, cybersecurity and governance, in partnership with Madrona Venture Labs, Strike Graph's goal: Eliminate the confusion related to cybersecurity audit and certification processes. Strike Graph customers typically earn a SOC 2 Type 1 certification in 45 days and save $50,000 in consultant fees, the startup claims.

5. Partnership - Identity and Access Management: Rapid7's Cloud Identity and Access Management (IAM) Governance module is now available for DivvyCloud. The result: Customers can gain deeper visibility into their cloud resources to assess, prioritize, and remediate improper permission combinations that could grant unintended or overly permissive access, the companies say.

6. New APT Threat? Kaspersky researchers have uncovered an advanced persistent threat (APT) espionage campaign that uses a very rarely seen type of malware known as a firmware bootkit. Details are here.

7. McAfee Founder Arrested: John McAfee has been arrested amid these allegations. The security software entrepreneur has not been associated with the anti-virus company that carriers his name since the 1990s. Still, each time the entrepreneur runs into alleged legal trouble, it causes a potential SEO (search engine optimization) headache for the software company that still carriers McAfee's name.