Binary Defense is a managed detection and response (MDR) service provider and software developer with a Managed Open XDR model, while ExtraHop is a specialist in network detection and response.
SaaS NDR Innovation
The MNDR service will be available to customers in North America. Under terms of the deal, ExtraHop’s Reveal(x) 360 customers can add Binary’s MDR services and security operations center (SOC) capabilities to their portfolios.
The Reveal(x) platform is positioned as the industry’s first SaaS-based network detection and response (NDR) solution providing unified security across on-premises and cloud environments, 360-degree visibility and situational intelligence without friction.
Binary brings to the table its 24/7/365 security monitoring, detection and response led by a highly trained and dedicated security staff with extensive government and Fortune 500 experience, the company said.
As Tracy Caudill, Binary’s chief commercial officer, explained:
“Many organizations lack the resources and expertise needed to actively monitor and triage the daily flood of alerts they receive to successfully detect and respond to the most urgent threats. Our Security Operations Center analysts have decades of combined experience at the highest levels of enterprise and government IT security. We are delighted to partner with ExtraHop to offer fully managed NDR services for our customers who need state-of-the-art, real-time threat detection that is tailored to meet their specific business needs.”
ExtraHop, Binary Defense Partnership Grows
Earlier this month, ExtraHop and Binary Defense announced that they were working together to deliver the Reveal(x) 360 network detection and response (NDR) solution.
Reveal(x) provides ExtraHop and Binary customers with unified security across on-premises and cloud environments, the companies said. The solution leverages ExtraHop sensors deployed in data centers, clouds and remote sites to decrypt and analyze network traffic.
In addition, Reveal(x) uses artificial intelligence for behavioral analysis and real-time threat detection and investigation. Reveal(x) also applies ExtraHop’s NDR capabilities to help users eliminate security blind spots and detect lateral movement, the company said. It is backed by Binary’s security operations center (SOC), which provides 24x7x365 security monitoring.
Binary Gains $36 Million
Binary recently closed a $36 million institutional growth equity funding round led by private equity firm Invictus Growth Partners. The company said it will use the funding to bolster its sales and marketing, expand its partner ecosystem and machine learning capabilities and create an extended detection and response (XDR) offering.
The global MDR market is expected to reach $22 billion by 2030, growing at a compound annual growth rate of 18.1% from the $4.9 billion the segment recorded in 2001, according to Emergen Research.
The market in North America is expected to post the highest revenue share during the forecast period from 2022-2030, owing to the large number of cybersecurity incidents, the use of cybersecurity innovations and cyber architecture protections, Emergen said. The market in Europe is expected to achieve rapid revenue gain during the period, the researcher said.