Seventh annual list reveals leading MSSP, MDR and MSP security companies expect strong revenue growth in 2023 vs. 2022
Huntsville, Ala: MAD Security ranks among the Top 250 MSSPs (https://www.msspalert.com/top-250) for 2023, according to MSSP Alert, a CyberRisk Alliance resource.
The Top 250 MSSPs honorees were announced in a live webcast on September 14.
- The complete list and research report are available here: https://www.msspalert.com/top-250
- The on-demand webcast will be available to watch here: https://www.msspalert.com/webcasts
Key findings include:
- MSSP Revenue Growth & Financial Performance: MSSP honorees, on average, expect to generate $56.3 million in revenue for 2023, more than double the number from our 2022 report. However, the 2023 Top 250 reported 2022 revenues averaged $47 million.
- Geography: Honorees are headquartered in 37 different countries.
- Profits: 87% of MSSPs surveyed expect to be profitable for fiscal year 2023.
- Security Operations Centers: 67% have in-house SOCs, 23% are hybrid, 8% completely outsource their SOCs, and 1% are reevaluating their SOC strategies.
- Cyberattack Trends: The most frequent attacks targeting MSSP customers in 2023 include phishing (95%), vulnerability exploits (91%) and ransomware (86%).
- Cybersecurity Solutions: Larger MSSPs were more likely to run their SOC entirely in-house (85%) while just half of our smaller segment MSPs ran their SOCs in-house and 33% took a hybrid approach (a portion in-house and a portion outsourced.)
- Key Managed Security Services Offered: Almost all of the larger MSSPs (90%) provided 24/7 security event monitoring and response for threat detection use cases on their own. While 61% of the smaller MSSPs provided these services on their own, 35% partnered with another company for these services and 4% of the smaller MSSPs did not offer them at all.
MAD Security was ranked among the Top 250 MSSPs for 2023.
“Climbing the rankings for three consecutive years and being ranked #113 in the Top 250 MSSPs is more than just an accomplishment; it stands as a testament to our team’s unwavering dedication, resilience, and excellence,” said Jeremy Conway, CEO, MAD Security.
“This honor solidifies MAD Security’s mission to be our nation’s premier Defense Industry-Based, Public Sector, and Maritime Cybersecurity Operations Center.”
“MSSP Alert and CyberRisk Alliance congratulate MAD Security on this honor,” said Jessica C. Davis, editorial director of MSSP Alert, a CyberRisk Alliance resource. “The Top 250 MSSPs continue to outperform the overall cybersecurity services market in 2023. It’s an indication of the strength of managed security services provided by these specialists at a time when cybercrime has accelerated and threatens businesses of every size and from every industry.”
MSSP Alert’s Top 250 MSSPs list and research report are overseen by Jessica C. Davis, editorial director, MSSP Alert and ChannelE2E.
Click here to download the list and associated report.
MAD Security’s Vision & Milestones
MAD Security, a leading cybersecurity managed security services provider (MSSP), has carved its niche by delivering unparalleled SOC services to the defense industrial base and public sector government contractors. With a specialized suite ranging from GRC Gap Assessments to CISO/C-Suite consulting, we have been the vanguard in safeguarding critical data against ever-evolving cyber threats.
Rooted in our five core values, our approach resonates with the principles of constant improvement, unwavering integrity, staunch accountability, utmost professionalism, and synergistic collaboration. These foundational pillars drive our success and shape our interactions with clients and partners.
As a certified Service-Disabled Veteran-Owned (SDVOSB) entity, we proudly wear our badge of honor, employing the best practices and technology to ensure our clients can operate with an undisturbed peace of mind. MAD Security’s commitment to elevating cybersecurity standards remains unparalleled, and our rapid growth is a testament to that dedication.
Historically, MAD Security has been at the forefront, consistently recognized for our excellence. Our rankings in the Top 250 MSSPs by MSSP Alert in 2021, 2022, and now 2023, is not just a testimony of our commitment but also reflects our consistent climb up these ranks, underscoring our relentless drive towards excellence.
Our endeavors extend far beyond accolades. With a primary objective of establishing the world’s most distinguished defense industry-centric cybersecurity operations center, our veteran leadership continuously leverages its extensive experience. This perfect amalgamation of knowledge and innovation empowers us to shield the digital sanctums of the defense sector and their government affiliates with unmatched expertise.
Furthermore, our CMMC Registered Provider Organization (RPO) status and the cadre of Registered Practitioners (RP) augment our claim of being the go-to cybersecurity partner, especially for defense contractors.
By meticulously understanding the distinct business objectives and goals of our clients, we’ve managed to foster relationships built on trust, expertise, and results. Serving a diverse range of industries, including aviation, aerospace, financial institutions, higher educational entities, and manufacturing units, we’ve catered to the specific, intricate needs of each, reinforcing our adaptability and versatility.
To conclude, MAD Security stands unwavering in its mission: confronting contemporary cybersecurity challenges with unparalleled precision. As the landscape of cyber threats evolves, we remain steadfast, ensuring businesses remain secure every day, every hour.
About MAD Security
MAD Security, a certified Service-Disabled Veteran-Owned (SDVOSB) entity, stands as the foremost cybersecurity Managed Security Services Provider (MSSP) dedicated to safeguarding the defense industrial base and public sector government contractors. With an acclaimed suite of services, from SOC as a Service to Red Team exercises, we blend veteran leadership with advanced cybersecurity methodologies, providing unparalleled solutions in a rapidly evolving threat landscape. Renowned as a CMMC Registered Provider Organization (RPO), our commitment resonates through our consistent ranking in the Top 250 MSSPs and our relentless pursuit of creating a fortified digital realm for businesses.
About CyberRisk Alliance
CyberRisk Alliance (CRA) is a business intelligence company serving the high growth, rapidly evolving cybersecurity community with a diversified portfolio of services that inform, educate, build community, and inspire an efficient marketplace. Our trusted information leverages a unique network of journalists, analysts and influencers, policymakers, and practitioners. CRA’s brands include SC Media, Security Weekly, ChannelE2E, MSSP Alert, InfoSec World, Identiverse, Cybersecurity Collaboration Forum, its research unit CRA Business Intelligence, the peer-to-peer CISO membership network, Cybersecurity Collaborative, the Official Cyber Security Summit, TECHEXPO Top Secret, and now LaunchTech Communications. Click here to learn more.