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Managed Security Services Provider (MSSP) Market News: 26 July 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. New Hacking Rules Proposed: U.S. Securities and Exchange Commission is considering adopting new rules requiring publicly traded companies to disclose hacking incidents, a measure officials said was being taken to help the investing public contend with the mounting cost and frequency of cyberattacks. The commission was also set to issue a proposal governing potential conflicts of interest in broker-dealers' use of artificial intelligence, a reform partly influenced by the events of the 2021 "meme stock" rally when officials found robo-advisers and brokers used AI and game-like features to drive trading. (Source: Reuters)

2. Product Launch: Appdome, a specialist in mobile app defense, has released enhanced continuous integration and continuous delivery plugins as part of its Dev2Cyber Agility Partner Initiative. The updated plugins provide new build options to test and release Appdome protected mobile apps in the DevOps pipeline.

3. Market Mover: Vault365, a provider of data protection services, announced that it expects to achieve revenues in excess of £1.7 million in the next 18 months. Following significant demand for its data backup and security capabilities in the first year since its launch in Ireland, Vault365 is now also launching its services in the UK market.

4. Security Partnership: Aembit, a workload identity and access management platform provider, announced a strategic investment by Okta Ventures. "With Okta Ventures' backing, we can make it easier for MSSPs to extend their offerings beyond just user access to also include workloads," CEO David Goldschlag told MSSP Alert. "These important providers can now help their customers keep track of all the different applications and services that need to communicate, whether they're in one place or spread across different cloud environments. This means better security, less stress, and more control for everyone involved."

5. Business Payments Security: Trustmi announced the official launch of its business payments security business. The cyber-security fintech company offers a solution that helps businesses protect their bottom line by eliminating losses from cyberattacks, internal collusion and human error, ensuring payments go to the right place.

6. Cyber Competition Announces Winner: Western Union is the winner of the International Cyber League (ICL) Americas Cyber Cup. The ICL tested the skills of cyber defense teams from around the world by immersing them in a cyber range, which required them to defend against real-world simulated cyberattacks like the ones they may encounter on the job.

7. Funding Boost: Gem Security, a cloud detection and response specialist, has received a strategic investment from Silicon Valley CISO Investments (SVCI). One of the most highly regarded investment collectives in technology today, SVCI is an investment syndicate comprised of the world's leading chief information security officers, Gem Security said.

8: Product Launch: JupiterOne, a cyber asset analysis company, has announced platform enhancements focused on expanding customer capabilities by managing on-premises assets and making it easier for teams outside of security to utilize and benefit from the platform. The J1 On-Premises Collector, Unified Device Matrix dashboard and an AI-powered natural language search bring the power of the JupiterOne platform to new environments and organizations, the company said.

9. Security Integration: Stellar Cyber, an open XDR specialist, announced a product integration with HIBUN from Hitachi Solutions, an information leak prevention solutions provider in Japan. The integration makes it easy to improve visibility into information leakage threats by incorporating the rich security log data generated by HIBUN into the Stellar Cyber Open XDR platform, the company said.

10. Cybersecurity Research Initiative: Coalfire has become a benefactor of MITRE Engenuity Center for Threat-Informed Defense, supporting MITRE Caldera, to drive public interest research that advances worldwide cyber risk management. The Center for Threat-Informed Defense is a non-profit, privately funded research and development organization operated by MITRE Engenuity.

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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.