Managed Security Services

Managed Security Services Provider (MSSP) Market News: 19 September 2023

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. CISA Sponsors New Season of Cyber Games: The Cybersecurity and Infrastructure Security Agency (CISA) is sponsoring the US Cyber Team, Season III. CISA has sponsored the US Cyber Team since Season I in 2021. Founded by Katzcy in cooperation with the NICE program at the National Institute of Standards and Technology (NIST), the US Cyber Games is a national cybersecurity competition that aims to identify, nurture, and showcase the nation's top cyber talent.

2. Funding Round: Alcion, a data management startup, has raised $21 million in a Series A funding round, bringing its total funding to $29 million. The funding, led by Veeam, a data protection and ransomware recovery company, supports the general availability and global go-to-market expansion of Alcion’s AI-driven backup-as-a-service (BaaS) platform for Microsoft 365.

3. Company Milestone: 1Password, a specialist in identity security, announced that it has surpassed $250 million in annual recurring revenue. Revenue growth has been bolstered by 1Password’s business segment momentum, with business-to-business revenue growing 50% year-over-year and comprising two-thirds of the company’s total revenue.

4. Cybersecurity Partnership: VirnetX Holding Corporation has signed a non-exclusive agreement with Zeleration Technology, creating a new partnership for the sale, integration and support of VirnetX's cybersecurity and secure communication solutions, focused on businesses in consulting, finance, accounting and law. VirnetX is an internet security software and technology company with patented technology for zero trust network access.

5. Identity Protection: Iris Powered by Generali, an identity and cyber protection platform provider, has launched a white-label version of its Identity Protection offering for Acronis' Cyber Protect Home Office solution. The service will be integrated into Acronis Cyber Protect Home Office Premium and Acronis Cyber Protect Home Office Advanced products and provide users with 24/7 access to identity monitoring and resolution services from Iris' support team.

6. Funding Round: HiddenLayer, an AI application security company, has raised $50 million in Series A funding to expand its talent base, increase go-to-market efforts and invest in its machine learning security platform. The investment marks the largest Series A funding raised by a cybersecurity company focused on protecting AI this year, HiddenLayer said. The funding was led by M12, Microsoft's Venture Fund and Moore Strategic Ventures, with participation from Booz Allen Ventures, IBM Ventures, Capital One Ventures and Ten Eleven Ventures.

7. Hacking Incident: The International Criminal Court (ICC) on Tuesday disclosed a hacking incident. The ICC said it had detected unusual activity on its computer network at the end of last week, prompting a response that was still ongoing. The ICC is the permanent war crimes tribunal in The Hague, established in 2002 to try war crimes and crimes against humanity. (Source: Reuters)

8. Colombia Cyberattacks Reported: More than 50 Colombian state entities and private companies were hit by a cyberattack last week, Colombian President Gustavo Petro reported. Internet service provider IFX Networks reported it was the victim of a ransomware attack, which saw dozens of Colombian organizations affected. (Source: Reuters)

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.