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Managed Security Services Provider (MSSP) Market News: 3 August 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. Funding Boost: Protect AI, an artificial intelligence (AI) and machine learning security company, announced that it has closed a $35 million Series A round of funding led by Evolution Equity Partners with participation from Salesforce Ventures and existing investors Acrew Capital, boldstart ventures, Knollwood Capital and Pelion Ventures. To date, the company has raised a total of $48.5 million.

2. Product Launch: Seraphic Security, a specialist in enterprise browser security, announced that it has extended its enterprise browser security solution to digital workplace apps. Organizations can use the Seraphic Security Platform to deploy uniform security, governance and DLP policies not only to all the standard browsers but also to collaboration applications, including Asana, Microsoft Teams, Notion, Slack, and more, the company said.

3. Contract Award: CACI International has been awarded a mission expertise contract valued at up to $2.7 billion to provide network and exploitation analysis to the National Security Agency’s (NSA) foreign intelligence and cybersecurity missions.

4. Security Partnership: Keyfactor, an identity-first security provider, has joined the National Cybersecurity Center of Excellence’s (NCCoE’s) Migration to Post-Quantum Cryptography Building Block Consortium. “Public-key cryptography is widely used to protect today’s digital information,” said William Newhouse, Security Engineer, NIST National Cybersecurity Center of Excellence.

5. New JCDC Member: Veritas Technologies, a specialist in secure multi-cloud data management, announced its partnership with the Joint Cyber Defense Collaborative (JCDC). Veritas will work with JCDC’s federal government and private sector partners along with state, local, tribal and territorial governments to help lead the development and implementation of joint cyber defense plans and operations to reduce risk to the cyber ecosystem and critical infrastructure.

6. Product Launch: Coalfire has launched Hexeon, a comprehensive offensive security SaaS solution designed to continuously identify and track risks throughout the vulnerability management lifecycle. The platform combines human intelligence and automation to provide actionable insights into threats and vulnerabilities, allowing cyber leaders to prioritize remediation and fortify operational resilience, Coalfire said.

7. Security Partnership: Mission Secure is partnering with Idaho National Laboratory, a U.S. Department of Energy national laboratory, to expand the adoption of the Consequence-Driven, Cyber-Informed Engineering (CCE) methodology to protect critical infrastructure against cyber threats. "CCE is going to transform industrial cybersecurity over the next decade, and we are thrilled to be on the leading edge of that transformation," said Mission Secure Executive Chairman Dr. Jens Meggers.

8. New Service Offering: Systems Engineering, an IT strategy and managed technology services specialist, has launched a new cybersecurity service, the Adaptive Cybersecurity Framework (aCSF), to provide clients with a measurable approach to continuous improvement in cybersecurity. NIST CSF has been fully adopted by Systems Engineering and is being integrated into its service delivery going forward, the company said.

9. New Service Offering: Contrast Security, a provider of code security platform built for developers, announced that it will extend its application security testing platform to support testing of Large Language Models (LLMs) from OpenAI.

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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.