Managed Security Services Provider (MSSP) Market News: 8 March 2023

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

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

1. Company Launch: Camelot Secure, positioned as a "revolutionary new cybersecurity company," will make its formal market introduction at The John. F Kennedy Center for the Performing Arts in Washington, D.C. on March 16. Unlike traditional cybersecurity solutions that rely on reactive measures, Camelot operates from a threat perspective, proactively identifying and mitigating threats before they can cause damage, the company said.

2. Product Launch: As organizations work to reap the benefits of the IT, OT and industrial control system (ICS) convergence, Optiv is helping businesses secure their critical hardware, systems and processes with a full suite of OT security advisory, deployment and management services, the company announced. Accordingly, OT/ICS clients can lift the operational burden from their in-house security teams, with Optiv customizing managed security services to their unique business needs.

3. Cybersecurity Research Released: Gigamon, a deep observability company, has announced the findings of a new research study from IDC, conducted with more than 900 IT leaders from around the world. The study offers CIOs, CISOs and their IT organizations insights to drive performance, protection and productivity with observability across their digital infrastructures.

4. Leadership Move: Netography, a security company focused on the "atomized network," has welcomed David Meltzer as chief product officer. This addition comes as the company heads into its next fiscal year after having tripled its annual recurring revenue and its employee count last year.

5. Executive Appointments: Check Point Software Technologies Ltd. has made a trio of executive appointments, hiring Nataly Kremer as chief product officer and head of R&D, appointing Dr. Dorit Dor as chief technology officer, and promoting Rupal Hollenbeck to president of Check Point. 

6. Cybersecurity Excellence: Tanium, a provider of converged endpoint management, has been selected as a winner in three categories in the 2023 Cybersecurity Excellence Awards. Tanium was recognized as a gold winner for Best Cybersecurity Company and Most Innovative Cybersecurity Company in North America. The Tanium XEM platform was also selected as a silver winner for Best Endpoint Security.

7. Industry Recognition: D3 Security announced that it is a Security Trailblazer award finalist in the Microsoft Security Excellence Awards. The company was honored among a global field of industry leaders that demonstrated success across the security landscape during the past 12 months.

8. Market Mover: CrowdStrike Holdings forecast annual revenue above market estimates on March 7, the latest sign that spending on cybersecurity products was holding up in a turbulent economy, the company said. Shares of the Austin, Texas-based company were up 6% in trading after the bell. "We believe our strong fourth-quarter performance and record first-quarter pipeline demonstrates the mission-critical nature of cybersecurity for modern businesses, the resiliency of our market," CEO George Kurtz said. (Source: Reuters)

9. Funding Boost: SOCRadar has secured $5M in Series A funding from investor 212, a venture capital firm backing B2B tech startups. SOCRadar brings three different cybersecurity services into a single cloud-based platform, providing extended threat intelligence, the company said.

B. Annual In-Person MSSP and Cybersecurity Conferences