Managed Security Services

Managed Security Services Provider (MSSP) Market News: 11 October 2023

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Each business day, MSSP Alert delivers a 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].

Today’s MSSP, MSP, MDR, XDR and Cybersecurity Market News

1. Cybersecurity Seed Fund Grows: SYN Ventures, a venture capital firm founded and led exclusively by former Fortune 500 CISOs and C-level security leaders with more than $600 million of assets under management, announced the first closing of its dedicated cybersecurity seed fund of more than $75 million. This is the largest cyber seed dedicated fund domiciled in the United States, the company stated.

2. Free Cyber Training Program: SailPoint Technologies, a specialist in enterprise identity security, has launched Identity University, its online training and certification platform for public enrollment. With 3.5 million unfilled cybersecurity jobs worldwide, SailPoint is opening no-cost access to introductory-level identity security training to address the immediate need to close the cybersecurity skills gap, the company said.

3. Funding Round: GuidePoint Security has announced the closing of a funding round led by Audax Private Equity. GuidePoint will leverage the investment to accelerate growth across the United States and expand internationally.

4. Product Launch: Honeywell has launched Cyber Watch, an enterprise solution designed to help organizations better identify, mitigate and manage the latest operational technology cyber threats. "Understanding vulnerabilities and gaining insight at both the site and enterprise level will help enable faster and more informed decisions to better defend against cyberattacks, reduce potential downtime and create a safer environment for our employees," said Chase Carpenter, Honeywell chief security officer.

5. Data Security Center Opens in Canada: Varonis Systems, a specialist in data security, has opened its first local data center in Canada to support new customers as well as existing customers moving to Varonis' SaaS offering. The new data center, located in Toronto, is the third to open in recent months. Varonis announced new data centers in Australia in April and the U.K. in August.

6. Partner Program for MSSPs, MSPs Launches: Asimily, an internet of things (IoT) and internet of medical things (IoMT) risk management platform provider, has unveiled its channel partner program: Launch. The new program empowers global technology and service providers, security resellers, and MSPs with everything they need to bring Asimily’s revenue-generating solutions to their clients, the company said.

7. Cybersecurity Partnership: Stairwell and 360 SOC have announced a strategic partnership that combines Stairwell's revolutionary AI-powered threat detection and automation capabilities with 360 SOC's groundbreaking month-to-month, contract-free Security Operations Center as a Service (SOCaaS) offering.

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.