Managed Security Services

Managed Security Services Provider (MSSP) Market News: 16 November 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: CyberRisk Alliance (CRA), a cybersecurity business intelligence company, has named Wayne Schepens as chief cyber market analyst. In this expanded role, Schepens will contribute his deep knowledge of the cybersecurity industry to the company’s platforms, as well as to external consortiums, to further support CyberRisk Alliance’s efforts to educate, inspire and engage the cyber community. Schepens is a technical founder who launched one of the first threat intelligence companies, and brings decades of first-hand security, product and marketing knowledge to CyberRisk Alliance’s leadership team. As managing director at LaunchTech Communications, which he founded in 2015, Schepens collaborated with some of the best and brightest leaders in the cybersecurity industry, including CISOs, to help today’s emerging security innovators differentiate product messaging and build credibility in crowded markets, CRA said.

2. Funding Boost: Vulcan Cyber, a cyber risk management platform provider, has closed its $55 million Series B with the addition of a $34 million investment led by Maor Investments and Ten Eleven Ventures and participation from existing Vulcan Cyber investors Dawn Capital and Wipro Ventures. This latest investment marks a total of $70 million invested in Vulcan Cyber to date.

3. MSSP Partner Program Launch: Flare, a continuous threat exposure management solution provider, launched its new tiered Managed Security Service Provider (MSSP) program, giving partners additional assets and support to help them grow their businesses and deliver value to their customers, the company said.

4. Product Launch: Resecurity has introduced its Digital Identity Protection (IDP) solution at Black Hat Middle East & Africa 2023 this week in Riyadh, Saudi Arabia. This strategic move aligns with Resecurity's commitment to creating a safer digital society and empowering individuals and businesses in the region to counteract cyber threats effectively, the company said.

5. Security Partnership: Conceal, a phishing and ransomware protection platform provider, has partnered with Barrier Networks, a U.K. security service provider, to bring its ransomware detection platform to the U.K., helping protect organizations against cyberattacks.

6. Industry Recognition: DataTribe, a global cyber foundry that invests in and co-builds next-generation cybersecurity and data science companies, announced Vigilant Ops as the winner of its sixth annual DataTribe Challenge. As the 2023 DataTribe Challenge winner, Vigilant Ops will move forward in the investment process with DataTribe with the possibility of receiving up to $2 million in seed capital.

7. Cyberattack Linked to Russian Group: Russian threat actors have been possibly linked to what's been described as the "largest cyberattack against Danish critical infrastructure" in which 22 companies associated with the operation of the country's energy sector were targeted in May 2023. Denmark's SektorCERT agency said it found evidence connecting one or more attacks to Russia's GRU military intelligence agency, which is also tracked under the name Sandworm and has a track record of orchestrating disruptive cyber assaults on industrial control systems. (Source: The Hacker News)

8. Human Rights Cybersecurity Guide Released: The Organization for Security and Co-operation in Europe (OSCE) Transnational Threats Department has launched a new training guide on human rights compliance in cybercrime investigations. Cybercrimes and other crimes involving electronic evidence can have implications for human rights such as the right to privacy, a fair trial, freedom of expression, and the protection of property, OSCE said. As such, the guide raises criminal justice practitioners’ awareness of that fact and helps them uphold human rights in their daily investigative work.

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.