Fifth–Annual List Honors Leading MSSP, MDR and SOCaaS Cybersecurity Companies Worldwide
September 22, 2021, Huntsville, AL: MSSP Alert, published by After Nines Inc., has named MAD Security to the Top 250 MSSPs list for 2021 (http://www.msspalert.com/top250).
The list and research identify and honor the top MSSPs, managed detection and response (MDR) and Security Operations Center as a Service (SOCaaS) providers worldwide.
The rankings are based on MSSP Alert’s 2021 readership survey combined with the digital media site’s global editorial coverage of managed security service providers. The fifth-annual list and research report track the managed security service market’s ongoing growth and evolution.
“We are both proud and honored to be named among the top 250 MSSPs List,” said Jeremy Conway, President, MAD Security. “All of the credit in achieving this honor and the explosive growth we continue to experience goes to our MAD Security Professionals. It is their passionate adherence to our core values and unwavering commitment to our client’s success that has enabled us to achieve this recognition in a short period of time.”
“After Nines Inc. and MSSP Alert congratulate MAD Security on this year’s honor,” said Amy Katz, CEO of After Nines Inc. “Amid continued ransomware, malware and supply chain cyber attacks, the MSSP Alert readership and community continues to mitigate risks for businesses and government organizations worldwide.”
Highlights from the associated MSSP Alert research include:
- MSSP Revenue Growth & Financial Performance: MSSP honorees, on average, expect to generate $22.3 million in revenue for 2021, up 16% from $19.2 million in 2020. The growth rate remains consistent with last year’s report.
- Geography: Honorees are headquartered in 26 different countries.
- Profits: 85% of MSSPs surveyed expect to be profitable for fiscal year 2021, which is roughly even with 2020.
- Security Operations Centers: 71% have in-house SOCs, 19% are hybrid, 8% completely outsource their SOCs, and 2% are reevaluating their SOC strategies.
- Cyberattack Trends: The most frequent attacks targeting MSSP customers in 2021 include vulnerability exploits (87%), phishing (96%), and ransomware (89%) incidents.
- Cybersecurity Solutions: In a continued sign of market fragmentation, MSSP survey participants mentioned 130 different hardware, software, cloud, and services vendors that assist their cybersecurity efforts — roughly even with our 2020 report.
- New Managed Security Services Offered: In addition to traditional managed security services, capabilities such as MDR (91%) have now gone mainstream. Plus, fast-growth services offered include SOC as a service (76%), XDR (67%), cyber talent as a service (43%) and cloud security posture management (41%).
As the cyber threat landscape becomes increasingly more sophisticated, protecting network data, systems, and applications while also ensuring compliance has become a top priority. However, depleting budgets and a shortage of security talent, has made this mission extraordinarily more difficult. MAD Security’s Managed Security Services simplifies this challenge by providing proactive and cost-effective solutions for businesses to detect and respond to cybersecurity threats while ensuring compliance, 24 hours a day, 365 days a year. At MAD Security we align risk and regulatory compliance requirements with business strategy transforming reactive check-box compliance exercises into a powerful business enablement function able to anticipate and mitigate risk keeping pace with change. MAD Security acts as a trusted advisor and strategist to provide actionable roadmaps that not only improve security posture and help mitigate risks, but also help develop and govern the overall Information Security program with minimal impact to the operations of the business.
About MAD Security
MAD Security is a Veteran owned and operated cybersecurity company that safeguards businesses with industry-leading managed services and technology solutions. We ensure your business is secure 24 hours a day, 7 days a week, 365 days a year and that your regulatory compliance mandates are continuously met while maximizing your financial and technology investments. Our customers include defense industry-based contractors, aviation and aerospace companies, government contractors, financial institutions, technology services companies, higher education, and manufacturing.
About After Nines Inc.
After Nines Inc. provides timeless IT guidance for strategic partners and IT security professionals across ChannelE2E (www.ChannelE2E.com) and MSSP Alert (www.MSSPAlert.com). ChannelE2E tracks every stage of the IT service provider journey — from entrepreneur to exit. MSSP Alert is the global voice for Managed Security Services Providers (MSSPs).