Managed Security Services, MSSP

Managed Security Services Provider (MSSP) Market News: 22 August 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. SC Awards Winners Named: CyberRisk Alliance and its flagship brand SC Media have announced the winners of its 2023 SC Awards program, recognizing 36 solutions, organizations and the people driving innovation and success in information security. View the full list of winners here. “This year’s SC Award winners reflected our industry in flux,” said Tom Spring, SC Media’s editorial director at CyberRisk Alliance. “Winners demonstrated uncanny market agility and brought innovative solutions to help their customers stay ahead of increasingly sophisticated adversaries and emerging threats.”

2. Talent Move: Chi Studios, parent company of The Cybersecurity Studio, announced that former Microsoft and Cisco cybersecurity executive Edna Conway has joined as an advisor. Conway will provide guidance on The Cybersecurity Studio's curriculum and growth strategy.

3. Cybersecurity Challenge: The Canada-Ukraine Security Innovation Challenge (CUSIC) has announced a call for solutions that invites Canadian and Ukrainian tech companies to submit innovative proposals to address a range of national-security challenges, from cybersecurity to secure communications between partner nations. Qualified companies will have the opportunity to pitch to Canadian and Ukrainian national security stakeholders.

4. Industry Recognition: Stellar Cyber, an open XDR technology specialist, has been included as a Representative Vendor in the Gartner report, Hype Cycle for IT Management Intelligence, 2023. The report offers detailed analyses of AI-driven software technologies and procedures available to IT management teams.

5. Ransomware Alert: The Cuba ransomware gang has been observed in cyberattacks targeting critical infrastructure organizations in the United States and IT firms in Latin America, using a combination of old and new tools. BlackBerry's Threat Research and Intelligence team, which spotted the latest campaign in early June 2023, reports that Cuba now uses CVE-2023-27532 to steal credentials from configuration files. (Source: Bleeping Computer)

6. Funding Boost: Grip Security, a specialist in SaaS identity risk management, announced that it is raising $41 million in Series B funding led by Third Point Ventures, with participation from YL Ventures, Intel Capital and The Syndicate Group. The investment would bring Grip Security’s total funding to $66 million, accelerating its go-to-market strategy and advancing product development, the company said.

7. Security Partnership: Forescout has announced integrations with Microsoft Sentinel as part of a broader initiative to support the Microsoft Security portfolio. These integrations will enable Forescout to deliver real-time visibility, threat management and incident response across the extended enterprise: campus, datacenter, remote workers, cloud, mobile, internet of things, and operational technology and endpoints.

8. Cybersecurity Initiative: GuidePoint Security has unveiled its Threat Actor Communications Retainer. The retainer is designed to help organizations that have fallen victim to ransomware implement a risk-based strategy that allows them to gain investigative knowledge and time for their business and technology teams to recover, the company said.

9. Company Partnership: VirnetX Holding Corporation has signed an agreement for an equity investment in OmniTeq, a provider of customized military and government artificial intelligence (AI) solutions. VirnetX will become the exclusive provider of cybersecurity solutions for OmniTeq's AI offerings. Along with collaborative development of next-generation cybersecurity and protective AI solutions, OmniTeq will sell VirnetX's Matrix and War Room products to their customers.

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.