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Managed Security Services Provider (MSSP) Market News: 3 April 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].

A. Today’s MSSP, MSP, MDR, XDR and Cybersecurity Market News

1. MxDR Service Expands: OpenText is bringing its managed extended detection and response (MxDR) service to the Caribbean and Latin America, working through its local cybersecurity partner network. OpenText MxDR Service is a 24/7 Virtual Security Operations Centre staffed by analysts, threat hunters, incident responders and malware experts, the company said.

2. Industry Recognition: RevBits is a winner in seven categories of the 2023 Globee Cybersecurity Awards. The Globee Awards recognizes the world’s top providers by their organizational performance, innovations, products and services, leadership, initiatives and more.

3. Cybersecurity Partnership: Level 6 Cybersecurity has joined The Retail & Hospitality Information Sharing and Analysis Center as an associate member, a partnership that will enable Level 6 to help improve cybersecurity strategy for the retail and hospitality industries.

4. Leadership Move: 24By7Security has promoted Jodi Siravo to chief administrative officer. In her new role, she will oversee all operational and consulting aspects of 24By7Security's cybersecurity and compliance practice.

5. Product Launch: NTT, a global IT infrastructure and services company, has launched its managed detection and response (MDR) security service to help companies achieve business performance objectives through improved cyber resilience. The cloud-native, analytics-driven offering combines human and machine expertise with threat intelligence to reduce the mean time to detect and respond to cyberattacks.

6. Cybersecurity Research: BitSight has unveiled new research, which found that the cybersecurity vulnerability remediation rate for more than 100,000 organizations around the world currently sits at a critically low 5%. The research from BitSight shows the extent to which many organizations still struggle to implement an effective vulnerability management program.

7. Company Under Security Review: China's cyberspace regulator will conduct a cybersecurity review of products sold in the country by U.S. memory chip manufacturer Micron Technology Inc. The move, which comes amid a spat over chip technology between Washington and Beijing, is aimed at protecting the security of the supply chain for critical information infrastructure, prevent hidden risks and safeguard national security, the Cyberspace Administration of China (CAC) stated. (Source: Reuters)

8. Funding boost: Push Security has raised $15 million in Series A funding. GV (Google Ventures) led the funding, with participation from Decibel and notable angel investors, including Dug Song, co-founder and former CEO at Duo Security, and co-founder and CEO Rich Waldron. Also, GV general partner Karim Faris and Jon Oberheide, co-founder of Duo Security, have joined the Push Security board.

B. Annual In-Person MSSP and Cybersecurity Conferences

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.