BlackBerry continues to gain momentum in the MDR (managed detection and response) security market, and the company is seeing large demand for MSSP-type services, CEO John Chen said during the software company's earnings call on June 23, 2022.
Amid that backdrop, BlackBerry continues to evangelize Guard MDR and is winning customer conversions from Kaspersky, Chen asserted -- though he did not disclose specific details about the migration wins.
MSSP Partner Program Updates
BlackBerry upgraded its partner program in early June 2022 to help MSSPs deliver eXtended Detection and Response (XDR) services to SMB customers. BlackBerry’s top 20 MSSPs have grown more than 50 percent year over year, and the company is “doubling down” and increasing its focus on its MSSP partners, VP of Global Channel Sales Colleen McMillan said in early June.
Recent alliances include Midis Group, a partner with over 5,000 employees and a presence in over 70 countries across the Middle East, Europe and Africa, Chen noted during the earnings call.
Assisted by the partner program, BlackBerry's cybersecurity revenue was $113 million for the quarter ended May 31, 2022 -- up 6% from the corresponding quarter the previous year. The cybersecurity business "demonstrated solid traction in the market by recording double-digit year-over-year billings growth," the company added.
Much of BlackBerry's cyber business is based on the Cylance acquisition of 2018. The company's other key focus area involves the Internet of Things (IoT), where revenue rose 19% to $51 million during Q1 of fiscal 2023.
Cybersecurity for MSPs and MSSPs: Intense Competition
Although BlackBerry has traction with MSPs and MSSPs, the company continues to face intense competition from faster-growth rivals like CrowdStrike and SentinelOne, and MSP-centric security software providers such as Sophos. Moreover, XDR-centric software providers such as Stellar Cyber have also gained momentum with MSSPs.
