Splunk, which develops software that allows companies to boost their IT, business and application performance, is gaining momentum with security-centric customers. Why's that? Splunk CEO Doug Merritt credits a range of factors -- including a growing relationship with Herjavec Group, a Top 100 MSSP for 2017.
"On the security side, we had several joint wins with our managed security partner, the Herjavec Group, including two new Splunk Cloud, Security customers," said Merritt during Splunk's earnings call on November 17. "We've seen an increase in demand for skilled managed security service providers that support hybrid offerings, and we're continuing to invest in our managed security service providers like the Herjavec Group."
Merritt praised additional partners for multiple customer wins. Those relationships led to an extremely strong quarter. Splunk revenues were $328.7 million during the quarter -- up 34 percent vs. the corresponding quarter last year.
Multiple MSSPs and cyber-focused firms, meanwhile, are partnering with Splunk on go-to-market solutions or related services. Additional examples include:
- Arctic Wolf Networks expanded its CyberSOC to Splunk Enterprise customers in September 2017
- Booz Allen Hamilton, another Top 100 MSSP, launched a private beta of the Cyber4Sight for Splunk cyber threat intelligence service in July 2017.
Blended MSSP & Co-Managed SIEM Services
Herjavec Group, meanwhile, isn't your typical MSSP. The company, founded in 2003, has four SOCs (security operations centers) across Toronto, Ottawa, Los Angeles and Reading. Plus, the firm's security lineup includes consulting, delivery, IAM (identity and access management), managed services and incident response.
Herjavec's managed security services blend traditional MSSP and SIEM services. On the one hand, the company's platform is multi-tenant, offering cross-client correlation -- and clients send logs to Herjavec. On the other hand, the co-managed SIEM approach means the client owns the SIEM, and has full access to the logs. The result: Customers gain a "best of both worlds" approach in a co-managed model, Herjavec Group Senior VP of Global Managed Security Services Steven Cohen explained to MSSP Alert during an October 2017 briefing.
We'll share more thoughts from that briefing sometime soon. In the meantime, Splunk seems to be benefitting from Herjavec Group's momentum with customers.