BlueVoyant: The Next MSSP, MDR Security Unicorn?

BlueVoyant apparently is seeking to raise $150 million, and the funding round could value the next-generation MSSP at $1.4 billion -- though terms are not finalized, Bloomberg reported.

BlueVoyant, originally known as BlueteamGlobal, was formed through the combination of three cybersecurity companies and secured $125 million in financing in 2017. Fast forward to 2021, and BlueVoyant has remained very active on the funding, acquisition and business expansion fronts.

BlueVoyant: Cybersecurity Business Timeline

Among the next-generation MSSP’s business moves in 2021:

BlueVoyant's Managed and Professional Cybersecurity Services

Roll all that activity together, and BlueVoyant's cybersecurity services now include:

  • Third-Party Cyber Risk Management for supply chains.
  • Managed detection and response (MDR) for Microsoft 365, endpoint and Splunk environments.
  • Digital risk protection that continuously monitors domains and websites, social media, apps in official and unofficial stores, deep & dark web, instant messaging and open-source.
  • Professional services that span proactive services as well as incident response.

Among the variables we don't know: BlueVoyant's monthly recurring revenue (MRR) and profits (or losses). Plus, we don't know how much of the revenue involves software-driven intellectual property vs. human-powered SOC operations. We'll be poking around for clues that may ultimately answer those questions.

Joe Panettieri

Joe Panettieri is co-founder & editorial director of MSSP Alert and ChannelE2E, the two leading news & analysis sites for managed service providers in the cybersecurity market.