Managed Security Services Provider (MSSP) News: 05 November 2020 -

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) and MSP security providers — and those who need to partner up 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 [email protected].

A. Today’s MSSP Alerts

1. Funding - Cyber Forensics: Cado Security, which develops a cloud-native cyber forensics and response platform aptly called Cado Response, has raised $1.5 million in seed funding led by Ten Eleven Ventures. Cado Security will use the funding to expand its development team in the United Kingdom.

2. M&A - Co-Managed MDR Services: Rumor has it ConnectWise acquired Perch Security as part of a larger business strategy to surface at the IT Nation Connect 2020 virtual conference. MSSP Alert has not independently confirmed the M&A rumor.

3. Ransomware Recovery Cost: Government software and IT service provider Tyler Technologies ($TYL) lost about $1.5 million in services revenue because of a ransomware attack in September, the company disclosed on November 4.

4. Ransomware Attacks Toy Maker: Mattel discloses ransomware attack mitigation efforts here.

5. M&A - Identity and Access Management (IAM): Ping Identity has acquired Symphonic. The deal will provide large enterprises with the ability to "easily manage authorization of critical transactions, provide access to sensitive data, and deliver new digital services to the market faster," Ping asserts.

6. Vulnerability Remediation: Vulcan Cyber has launched Remedy Cloud, a free service built on a database of curated remedies for thousands of security vulnerabilities. Security and IT teams can leverage the database to more effectively coordinate remediation campaigns, Vulcan asserts.

7. Partners - Autonomous Detection and Response: 3SG Plus, a technology solutions provider to local governments, utilities and technology firms, has embraced Confluera as an XDR (extended detection and response) platform for automatous detection and response. The relationship includes 3SG Plus joining the new Confluera 2020 Reseller Program.