Managed Security Services

Managed Security Services Provider (MSSP) Market News: 19 December 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. Product Launch: Stellar Cyber, an open eXtended detection and response (XDR) specialist, has announced an integration with SentinelOne, a provider of AI-powered security protecting on-premises, cloud, hybrid and IT/OT environment. Together, Stellar Cyber and SentinelOne will deliver a security operations solution that automates the identification of advanced threats by correlating threat signals from various data sources, providing security analysts with the contextualized threat information they need to mitigate threats, the companies said.

2. Funding Round: Halcyon, a ransomware platform provider, has closed a $40 million Series B funding round led by Bain Capital Ventures (BCV). The company also announced that Enrique Salem, BCV Partner and former Symantec CEO, will join the board of directors and BCV partner Jeff Williams will join as chief revenue officer.

3. Product Launch: Mitiga, a cloud and SaaS incident response provider, has released Investigation Workbench, a cyber solution that provides instant clarity on all multi-cloud and SaaS activities through a single pane of glass. Investigation Workbench can be used in any situation where there is a need to investigate cloud or SaaS activities, including a security alert, suspected phishing incident, or unusual user behavior, to understand exactly what happened, the company said.

4. OT Security Product Launch: Fortinet, a global cybersecurity provider focusing on the convergence of networking and security, has released integrated operational technology (OT) security solutions and services. The Fortinet OT Security Platform is an integrated portfolio of cybersecurity products, solutions, and security services designed specifically for industrial networks and powered by real-time OT threat intelligence. 

5. Bolstering Bot Defense: Kasada, a bot management specialist, has launched its enhanced bot defense platform. The platform features always-evolving protection, tamper-proof data collection and augmented data-driven attack insights, the company said.

6. Exclusive Networks Acquisition: Exclusive Networks, a global cybersecurity provider, has acquired 100% of Consigas, a cybersecurity company specializing in training and consulting. Lars Meyer, CEO of Consigas, will lead Exclusive Networks’ Palo Alto education services business, leveraging the existing country resources of Exclusive Networks combined with the experience of the Consigas team.

7. Product Launch: ConnectSecure, a cybersecurity company focused on managed service providers (MSPs), announced it will launch Version 4.0 of its flagship cybersecurity scanning platform by the end of the year. This release marks a significant leap in the technology, offering greater efficiency and security management for MSPs globally, the company said.

8. LLM Security Advancement: Bugcrowd, a crowdsourced cybersecurity platform provider, has announced updates to its Vulnerability Rating Taxonomy (VRT), which defines and prioritizes crowdsourced vulnerabilities in Large Language Models (LLMs). The VRT is an ongoing open-source effort to standardize how hacker submissions of suspected vulnerabilities are reported in an industry-standard way and is implemented in the Bugcrowd Platform for use by hackers, customers and Bugcrowd's application security engineers.

9. Funding Round: SimSpace, a specialist in military-grade cybersecurity, has closed a $45 million equity funding round led by L2 Point Management. The investment brings the total capital raised by SimSpace over the past year to $70 million and will support the company's continued growth trajectory, including its expansion into new geographies.

10. Cyberattack on Iranian Petrol Stations: Iran's Oil Minister on December 18 confirmed that a nationwide disruption to petrol stations was caused by a cyberattack. A hacking group that Iran accuses of having links to Israel claims it carried out the attack. (Source: Reuters)

11. Health Network Security Incident: CompleteCare Health Network (CCHN) has reported cybersecurity incident that involved personal identifiable information and personal health information. On or around October 12, CCHN detected and stopped a sophisticated ransomware attack in which an unauthorized third party accessed some of CCHN's computer systems. CCHN is investigating the extent of any unauthorized activity, including whether any patient information was accessed. 

12: Hackers Invade Mortage Company: Hackers stole the personal information of more than 14.6 million Mr. Cooper customers, the mortgage and loan business reported. Mr. Cooper said the hackers stole customer names, addresses, dates of birth and phone numbers, as well as customer Social Security numbers and bank account numbers. (Source: TechCrunch)

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.