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

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

Today’s MSSP, MSP, MDR, XDR and Cybersecurity Market News

1. CyberRisk Alliance Announces VP: CyberRisk Alliance (CRA) has brought Marcus Witte on as executive vice president of its Foresight division to launch CRA’s advanced customer data and analytics platform, which will provide CRA’s customers with campaign strategy options and advanced marketing solutions. Witte joins CRA from Matterkind, which specializes in data-driven marketing activation for major brands, including Amazon, LEGO, AMEX, Geico, Nike, BMW and more.

2. Leadership Move: Cohesity, a data security and management specialist, has made two key executive appointments: Eric Brown as chief financial officer and Srinivasan Murari as chief development officer.

3. Security Partnership: Synopsys has announced the details around two new collaboration agreements with NowSecure, recognized experts in mobile security and privacy, and Secure Code Warrior, provider of the leading agile learning platform for developer-driven security. Synopsys is introducing two new application security solutions leveraging these strategic partners: Synopsys Mobile Application Security Testing powered by NowSecure and Synopsys Developer Security Training powered by Secure Code Warrior.

4. Product Launch: Cymulate, an exposure management and security validation specialist, has announced innovations designed to deliver threat-informed defense through comprehensive exposure management and security validation for cloud infrastructure. The Cymulate Exposure Management and Security Validation platform now includes new and expanded cloud-focused attack simulation templates and resources to cover all major public cloud providers, including AWS, Azure and GCP.

5. Product Launch: The XDR Alliance has released a new set of open-source API specifications that help cybersecurity vendors collaborate and more easily integrate their advanced technology solutions. The new open-source API specifications are a follow-up to the XDR Alliance’s open-source common information model (CIM), which provides the broader cybersecurity community with a common foundation for understanding and enriching data across technologies.

6. Funding Boost: Dropzone AI, provider of an autonomous alert investigation platform for security operations teams, has closed on $3.5 million in seed funding, led by Decibel Partners, joined by Pioneer Square Ventures Fund. Dropzone also announced the availability of its pre-trained autonomous AI security agent.

7. Funding Boost: Horizon3.ai, a provider of autonomous security solutions, has announced $40 million in Series C funding led by Craft Ventures with participation from Signal Fire. The funding will be used to build out Horizon3.ai’s proactive security platform, expand channel and partner presence and meet the growing demand of customers worldwide. Founded in late 2019, Horizon3.ai has raised a total of $78.5M to date.

8. Security Partnership: To help companies strengthen their cyber resilience and revolutionize their security operations, Hunters and Kudelski Security have entered a strategic partnership. As part of the partnership, Kudelski Security will integrate the Hunters SOC Platform into their Cyber Fusion Center (CFC) value chain to "supercharge" its MDR Services and deliver greater security outcomes, Hunters said.

9. School Cybersecurity Initiative: Cloudflare has launched an initiative aimed at improving cybersecurity for K-12 public school districts at no cost. Project Cybersafe Schools will provide a suite of zero trust cybersecurity solutions to give small school districts faster, safer internet browsing and email security.

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