Managed Security Services Provider (MSSP) Market News: 26 April 2022 -

Each business day, MSSP Alert broadcasts 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 Joe.Panettieri@CyberRiskAlliance.com. Thank you in advance for news tips.

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

1. Business Continuity for MSPs: Datto has launched SIRIS 5 on premises backup appliances as well as Cloud Continuity for PCs. The new developments reinforce a hybrid world, where MSPs can mix-and-match pure cloud solutions and specialized on-premises hardware to protect customer data. The Datto launches surface amid the company’s pending sale to Kaseya.

2. Managed Detection and Response (MDR): The MDR security market is expected to generate a 21.33% compound annual growth rate (CAGR) from 2021 through 2026, according to Technavio.

3. MDR and XDR: Kudelski Security, the cybersecurity division within the Kudelski Group, has launched an MDR ONE solution. The cloud-native MDR solutions built on Kudelski Security’s proprietary XDR architecture, the company asserted.

4. Venture Capital Funding - Bug Bounty Program: Intigriti, a bug bounty and vulnerability disclosure platform, has raised €21.1 million (roughly US$22.5 million) in Series B round. Octopus Ventures led the round. Germany-based fund EnBW New Ventures also participated, alongside previous investors and Intigriti’s largest shareholder, ETF Partners.

5. Venture Capital Funding - Web Application Security: Source Defense has raised $27 million in Series B funding. The round is led by new investor Springtide Ventures with all existing investors also participating, including Jerusalem Venture Partners (JVP), AllegisCyber Capital, Global Brain, Connecticut Innovations, Inc., NightDragon, LLC, and Capital One Ventures. The funding will help Source Defense to drive sales, marketing, alliances, research and development, the company asserted.

6. Hedge Fund Hacker: Aviram Azari, an Israeli private investigator, pleaded guilty in a probe of a vast hacking-for-hire ring that allegedly targeted hedge funds, short sellers, journalists and advocacy groups fighting climate change, Bloomberg reported.