Managed Security Services

Managed Security Services Provider (MSSP) Market News: 14 November 2023

(Getty Images)

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. Leadership Move: Blue Mantis, a digital strategy and services provider delivering managed services, cybersecurity and cloud solutions, announced that its board of directors has appointed Josh Dinneen as chief executive officer, effective January 1, 2024. Current CEO Ron Dupler will assume the role of chairman and will remain a board member, devoting his time to supporting Dinneen and Blue Mantis customers and partners in a strategic advisory role, the company said.

2. Leadership Move: Securonix, a unified defense SIEM, has appointed Mark Stevens as vice president of strategic alliances. Stevens most recently served as the global senior vice president, strategic alliances and OEM, at Ivanti.

3. Funding Round: Zip Security has announced a $7.77 million seed round led by General Catalyst and including Stripe, Gusto, and Hubspot, Human Capital and BoxGroup. The funding will allow Zip to rapidly scale up the development of its software product, which currently solves cloud-based identity management, device management and endpoint threat detection, the company said.

4. Free Risk Assessment Tool: Beyond Identity, a provider of passwordless, phishing-resistant multi-factor authentication (MFA), has released its Identity and Device Zero Trust Assessment tool. This free assessment will help IT and security teams evaluate where their organizations fall within CISA’s Zero Trust Maturity Model (ZTMM) framework, specifically within the domains of identity authentication and device security, the company said.

5. Industry Recognition: Forge Institute, a provider of cybersecurity training and workforce development solutions, has been recognized with the 2023 HIRE Vets Medallion Award Platinum Level from the U.S. Department of Labor. The award acknowledges Forge Institute's exceptional commitment to recruiting, upskilling and employing veterans.

6. Funding Round: Radiant Security, an AI-enhanced security operations solutions specialist, has announced the closure of a $15 million Series A funding round. The financing, led by Next47, reaffirms the demand for cutting-edge, AI-based solutions that address the longstanding challenges faced by security operations centers (SOCs), the company said.

7. Funding Round: Cyble has completed its Series B funding round, securing an additional $6.2 million. In July, Cyble had secured $24 million in the initial tranche of its Series B funding. With this latest investment, the company has officially closed the entire funding round at $30.2 million.

8. Leadership Move: Exabeam, a specialist in AI-driven security operations, has appointed Steve Wilson as chief product officer. In his role, Wilson will lead Exabeam’s product management and product marketing teams to continue to drive innovation in the company’s AI-driven security operations and SIEM product portfolio. 

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.