BlueVoyant apparently is seeking to raise $150 million, and the funding round could value the next-generation MSSP at $1.4 billion -- though terms are not finalized, Bloomberg reported.
BlueVoyant, originally known as BlueteamGlobal, was formed through the combination of three cybersecurity companies and secured $125 million in financing in 2017. Fast forward to 2021, and BlueVoyant has remained very active on the funding, acquisition and business expansion fronts.
BlueVoyant: Cybersecurity Business Timeline
Among the next-generation MSSP’s business moves in 2021:
- October 2021: Acquired 202 Group, a provider of supply chain risk management solutions to the U.S. federal government.
- October 2021: Extended its MDR to support SentinelOne endpoint detection & response (EDR) capabilities.
- October 2021: Raised $30 million and purchased Concanon, a professional services company focused on Splunk,
- September 2021: Partnered with Telstra to launch MDR endpoint cybersecurity services in Australia & New Zealand.
- July 2021: Acquired Marclay Associates, a UK-based cybersecurity consultancy.
- July 2021: Launched Modern SOC for Splunk platform.
- March 2021: Unveiled the Modern Security Operations Center (SOC) consulting, implementation & MDR services portfolio. The launch arrived five months after BlueVoyant acquired Managed Sentinel — a Microsoft Azure Sentinel partner for cloud-based SIEM services.
- February 2021: Hired IBM Security veteran Gyorgy Robert Racz to drive European expansion.
- July 2020: Raised $68 million led by Temasek, bringing total funding at the time to $275 million.
BlueVoyant's Managed and Professional Cybersecurity Services
Roll all that activity together, and BlueVoyant's cybersecurity services now include:
- Third-Party Cyber Risk Management for supply chains.
- Managed detection and response (MDR) for Microsoft 365, endpoint and Splunk environments.
- Digital risk protection that continuously monitors domains and websites, social media, apps in official and unofficial stores, deep & dark web, instant messaging and open-source.
- Professional services that span proactive services as well as incident response.
Among the variables we don't know: BlueVoyant's monthly recurring revenue (MRR) and profits (or losses). Plus, we don't know how much of the revenue involves software-driven intellectual property vs. human-powered SOC operations. We'll be poking around for clues that may ultimately answer those questions.
