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Managed Security Services Provider (MSSP) Market News: 05 August 2022

Professional IT Engineers Working in System Control Center Full of Monitors and Servers. Supervisor Holds Laptop and Holds a Briefing. Possibly Government Agency Conducts Investigation. (Professional IT Engineers Working in System Control Center Full

Each business day, MSSP Alert delivers this quick lineup of news, analysis and chatter from across the managed security services provider ecosystem.

  • The Content: Written for MSSPs, SOC as a Service (SOCaaS), Managed Detection and Response (MDR), eXtended Detection and Response (XDR), threat hunters and MSP security providers — and those who need to 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:

Thank you in advance for news tips.

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

1. Motorola Solutions - MSSP Performance?: Motorola Solutions sales were $1.285 billion in Q2 of 2022, up 7% from Q2 of 2021. The video security and physical security company mentioned strong demand from schools and government organizations that want to safeguard buildings and other infrastructure. Still, Motorola Solutions did not mention the performance of its MSSP business -- which includes the Delta Risk and LunarLine acquisitions of 2020.

2. SMB Ransomware Mitigation Guide: The Institute for Security and Technology's Ransomware Task Force (RTF) has released a blueprint for small and mid-sized enterprises to face ransomware, SC Media reported.

3. Cyber Insurance Tips: Here are eight topics to cover when selecting cyber insurance, according to Luke Johnson, a claims manager at Canopius.

4. Cyber Insurance - Executive Leadership: Coalition has named Jim Young as CFO; John Littzi as General Counsel; and added Julie Richardson as board member. The executive updates arrive roughly one month after Coalition raised $250 million funding at a $5 billion valuation.

5. Cryptocurrency Hacker Bounty: Cryptocurrency company Nomad is offering a bounty to recoup funds spirited away in a $190 million hack that again highlighted security vulnerabilities in the digital-token sector, Bloomberg reported.

6. Albanian Cyberattack - Alleged Culprits: A cyberattack that temporarily shut down numerous Albanian government digital services and websites in mid-July was likely the work of pro-Iranian hackers seeking to disrupt an Iranian opposition group's conference in Albania, according to incident response provider Mandiant (as reported by Reuters).

7. Talent - DNS Management and Security: Infoblox has named Joe Gately as SVP of sales for the Americas region. Gately reports to chief revenue officer Mitch Breen.

8. Cloud Security and Internet Performance: CloudFlare's revenue was $234.5 million in Q2 of 2022, up 54% compared to Q2 of 2021. GAAP net loss was $63.5 million, compared to a $35.5 million GAAP net loss in Q1 of 2021. The figures generally beat Wall Street's expectations.

9. Funding - Secure Enterprise Browser: Talon Cyber Security has raised $100 million in Series A funding, led by Evolution Equity Partners, with participation from Ballistic Ventures, CrowdStrike’s Falcon Fund, Merlin Ventures and SYN Ventures. Previous investors  -- including CrowdStrike co-founder and CEO George Kurtz, Lightspeed Venture Partners, Sorenson Ventures and Team8 -- also participated in the round.

B. MSSP, MDR and Cybersecurity Virtual Events and Conference Calendar

  1. Black Hat USA (August 6-11, Las Vegas)
  2. Defcon 30 (August 11-14, Las Vegas)
  3. Gartner Identity and Access Management Summit 2022 (August 22-24, Las Vegas)
  4. Blue Team Con 2022 (August 27-28, Chicago)
  5. LogRhythm RhythmWorld 2022 (September 13-15, Denver, Colorado)
  6. Join UsMSSP Alert Live (September 19-21, Washington, D.C.)
  7. BonusMSSP Alert’s complete event calendar
Joe Panettieri

Joe Panettieri is co-founder & editorial director of MSSP Alert and ChannelE2E, the two leading news & analysis sites for managed service providers in the cybersecurity market.