Managed Security Services Provider (MSSP) Market News: 11 May 2022

by Joe Panettieri • May 11, 2022

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, 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 Editorial Director [email protected]. Thank you in advance for news tips.

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

1. Fortinet Partner Program Updates: Details are here.

2. Talent: Blackpoint Cyber has hired David Rushmer as director of threat research.

3. Executive Leadership – SIEM: Securonix, a provider of SIEM (security information and event management) software, has named:

Phil Close as VP of EMEA sales and Richard Cassidy as VP of global technology;
Jessica Patey as Head of EMEA marketing; and
Stephen Gailey as senior director of solution architecture.

4. Datto’s Next Cybersecurity Move: Details are here.

5. Data Protection: Cohesity has released Cohesity FortKnox — a software as a service (SaaS) data isolation and recovery solution.

6. Malware Trends – April 2022 Findings: Emotet, an advanced, self-propagating and modular Trojan, is still the most prevalent malware impacting 6% of organizations worldwide, Check Point Software Technologies reports.

7. Funding – Executive Cybersecurity Services: Sunday Security, an Israeli startup, has raised $4 million in seed funding to “elevate cyber-risk protection for senior executives and key personnel across the entire spectrum of their online digital identities and interactions,” the company said.

8. Venture Capital – Cybersecurity: YL Ventures has launched a new $400 million venture capital fund (known as YLV V), bringing its total capital under management to $800 million, the VC said.

9. Cybersecurity Talent – STEM Training: IBM announced education and cybersecurity training initiatives with the U.S. Department of Veterans Affairs (VA), Specialisterne Foundation, and six Historically Black Colleges & Universities (HBCUs). The efforts provide no-cost STEM job training to U.S. military veterans, neurodivergent learners worldwide, and university students from underrepresented communities in the United States, IBM indicated.

10. Financial Services and Cybersecurity: Veritas Technologies has joined the financial sector not-for-profit initiative, Sheltered Harbor, as a technology solution provider under its Alliance Partner program. The move “reinforces Veritas’ commitment to ensuring that critical customer data in the financial sector remains protected from cyber threats, including ransomware,” the company said.

11. Momentum – Cyber Risk Exchange; CyberGRX grew customer recurring revenue 196% in Q1 of 2022 vs. the corresponding quarter in 2021. Actual revenue dollar figures were not disclosed.

12. More Kaspersky Concerns?: The National Security Agency is investigating the extent that software made by the Russian cybersecurity company Kaspersky is embedded in U.S. businesses and organizations amid rising security concerns arising from Russia’s invasion of Ukraine, Bloomberg reported. Related: See complete timeline tracking cyberattacks related to Russia-Ukraine war.

13. Oregon Hack: About 1,100 people who use the Oregon Secretary of State’s online campaign finance tracking system have to reset their passwords following a ransomware attack against a web provider named Opus Interactive, the Oregon Capital Chronicle reported.