Paranet Solutions Named to MSSP Alert's 2023 List of Top 250 MSSPs

News provided by

Paranet Solutions

27 Sep, 2023, 07:06 ET


Seventh annual list reveals leading MSSP, MDR and MSP security companies expect strong revenue growth in 2023 vs. 2022.

CARROLLTON, Texas, Sept. 27, 2023 /PRNewswire/ -- Paranet Solutions 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.

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.

Paranet Solutions was ranked among the Top 250 MSSPs for 2023.

"It's a profound honor to be chosen for the MSSP Alert Top 250. This accolade reflects our team's unwavering commitment and the trust placed in us by our cybersecurity allies and clients," expressed Jim Crocco, CEO of Paranet Solutions. "Above all, this distinction motivates us further to uphold our pursuit of cybersecurity prowess. By nurturing our ties with clients and partners, relentlessly seeking betterment, and actively engaging with the community, we're poised to thrive in the dynamic world of cybersecurity."

"MSSP Alert and CyberRisk Alliance congratulate Paranet Solutions 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.

Media Contact

Jim Crocco, Paranet Solutions, 1 (214) 623-5200, [email protected], www.paranet.com

SOURCE Paranet Solutions