Managed Security Services

Managed Security Services Provider (MSSP) Market News: 18 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. Funding Round: Prove Identity, a specialist in digital identity solutions, has announced a $40 million funding round led by MassMutual Ventures and Capital One Ventures. The new funding, supported by over 40% new international customer growth year to date, reinforces Prove’s position in the digital identity verification and authentication market, the company said.

2. Funding Round: Anonybit, a decentralized biometric authentication and data protection specialist, has secured an additional $3 million funding round led by JAM FINTOP with participation from Connecticut Innovations and 4S Bay Partners, increasing its total funds raised to $8 million. This additional investment will accelerate Anonybit's mission to provide privacy-by-design identity management solutions to enterprises that are looking for new ways to authenticate users in order to avoid data breaches, the company said.

3. Funding Round: Reality Defender, a deepfake and AI-generated media detection platform provider, has raised $15 million in Series A funding. The round was led by DCVC, with participation from Comcast, ex/ante, Partnership Fund for New York City, Rackhouse Venture Capital and Nat Friedman's AI Grant.

4. Funding Round: Darwinium, a digital security and fraud prevention platform provider, has raised $18 million in Series A financing led by U.S. Venture Partners (USVP), with participation from seed investors: Blackbird, Airtree Ventures and Accomplice. The new funding brings total investment to $26 million and enables Darwinium to scale its edge-based solution across global geographies, the company said.

5. Funding Round: Zygon, a company focused on cybersecurity solutions for software-as-a-service applications, has announced a $3 million seed round and the public release of its solution. The funding was led by Axeleo Capital, and includes Kima Ventures as well as multiple cybersecurity angel investors.

6. Cybersecurity Guide Released: ArmorText, a communications platform provider, and the international law firm of Crowell & Moring have released Cyber Resilience: Incident Response Tabletop Exercises 2023. Written for C-suite executives, in-house counsel and incident response teams, the toolkit is a resource for leaders as they help their organizations mitigate cyber threats and strengthen their incident response capabilities.

7. "PR in a Box" for MSPs: MRB, a technology-focused public relations and communications firm, has launched its "PR in a Box" offering, designed to elevate the brand presence and awareness of managed service providers (MSPs). This program offers MSPs a unique three-month opportunity to execute a robust PR campaign without budget constraints.

8. Malware Alert: Cado Security Labs researchers have discovered a new cryptojacking campaign targeting exposed Jupyter Notebooks. The malware includes relatively sophisticated command and control infrastructure, with the controller using Discord’s bot functionality to issue commands on compromised nodes, the company said.

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.