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Managed Security Services Provider (MSSP) Market News: 16 August 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. Leadership Move: Sevco Security has appointed Kyle Derr as the company’s first chief technology officer. Derr will be responsible for leading Sevco Security’s product and engineering teams to support its next phase of growth driven by the need for accurate, comprehensive asset inventory and management across enterprise IT environments, the company said.

2. Industry Recognition: HEROIC, a specialist in enterprise cybersecurity, has announced its fourth year ranking among the Inc. 5000 Fastest Growing Companies in America for 2023. The company’s rapid rise within the Inc. 5000, to secure a position among the top 10 cybersecurity companies nationwide, is fueled by increased demand for advanced preventive cyber defenses and security-focused IT services, particularly within the healthcare sector, the company said.

3. Leadership Move: Eclypsium, a supply chain security company protecting critical hardware, firmware and software products and technologies, has announced the addition of two new executives to the company’s leadership team. The appointment of John Ewert as chief financial and operating officer and Chris Radosh as vice president of Business Development and Global Channels follows the continued growth of Eclypsium’s enterprise customer base, as well as strategic partnerships among manufacturers and infrastructure providers, the company said.

4. Industry Recognition: Versa Networks, a unified secure access service edge (SASE) provider, has been named as a Leader in The Forrester Wave: Zero Trust Edge Solutions, Q3 2023 report. Palo Alto Networks has also earned the Forrester Wave recognition. The report provides an evaluation of 10 of the top providers of zero trust edge solutions in the market.

5. Cybersecurity Research: Corero Network Security, specialists in distributed denial of service (DDoS) protection solutions, has released a new threat research report, "Mirai and Its Common Attack Methods," authored by cybersecurity engineer Huy Nguyen. The new report uncovers the evolving nature of the notorious Mirai botnet and its methods for distributed denial-of-service (DDoS) attacks.

6. Industry Recognition: Ontinue, a provider of AI-powered extended managed detection and response (MXDR) services and winner of the 2023 Microsoft Security Services Innovator of the Year award, announced that it has been named to the Enterprise Security Tech 2023 Cyber Top 20 awards list, which recognizes the top cybersecurity companies providing the most value to the market.

7. Security Awareness Campaign: NINJIO, a company focused on cybersecurity awareness training, has launched a public awareness campaign focused on "pig butchering." The intention of the campaign is to help increase the public's understanding of the latest cyber threats affecting vulnerable communities across the U.S. and beyond. Pig butchering is known as a "long con," which tricks victims into sending money to fraudulent investment platforms. In recent months, it has become one of the costliest attacks, with victim losses totaling tens of billions of dollars worldwide, according to NINJIO.

8. Cybersecurity Startup Challenge: DataTribe, a cyber foundry that invests in and co-builds next-generation cybersecurity and data science companies, has opened its call for applications for the 2023 Cybersecurity Startup Challenge. The deadline for submissions is September 23. The competition identifies pre-series A technology startups with a vision to disrupt cybersecurity and data science. Three finalists will split $20,000 in prize money, and one winner will be eligible to receive up to $2 million in seed capital from DataTribe.

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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.