Seventh annual list reveals leading MSSP, MDR and MSP security companies expect strong revenue growth in 2023 vs. 2022
ATLANTA, Oct. 5, 2023 /PRNewswire-PRWeb/ -- Siemba Inc ranks among the Top 250 MSSPS 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.
- The on-demand webcast will be available to watch here.
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.
Siemba Inc was ranked among the Top 250 MSSPs for 2023.
"This is the 5th year in a row Siemba has been selected to the Top 250 Security Provider list," said Kannan Udayarajan, Founder & CEO of Siemba. "This is validation of the value Siemba brings to our customers and also illustrative of the importance of third party penetration testing as an activity, and the role played by Penetration Testing as a Service (PTaaS) and autonomous testing solutions."
"MSSP Alert and CyberRisk Alliance congratulate Siemba 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.
Siemba was founded in 2018 by Kannan Udayarajan and Sandhya Prashanth, with the mission of helping growing organizations and enterprises scale their offensive security testing programs seamlessly. Third Party Penetration Testing is mandated by compliance frameworks including PCI, HIPAA, SOC2 and several Federal and State government mandates.
"CTOs and CISOs often struggle with getting the full picture of security testing activities across their organizations, especially if they have numerous business units, mission critical assets under each and disparate team members responsible for remediating issues", said Sandhya Prashanth, Siemba's Chief Security Officer. " It's not just about accelerating the testing process through Penetration Testing as a Service (PTaaS), but also giving the adequate visibility at relevant levels to mitigate risks, reduce exposure and maintain compliance. Siemba is an Enterprise Grade PTaaS platform."
Siemba serves customers across the board, from Government organizations to Enterprises and fast growing startups. "If you are a multi-product company, releasing software every 6 to 12 weeks, Siemba is your ideal choice for PenTesting '', said Kannan Udayarajan. "There is both a scale and talent problem in this space, which is why we are combining our PTaaS platform with our PenTesting Center of Excellence (PTCoE). The idea is to offer the best in terms of platform and practitioners."
"Another key capability that our customers love is the one click reporting", said Nithin Thomas, Vice President of Operations at Siemba. " It makes compliance reporting super easy. I have worked in organizations where we always had to scramble at the last minute to develop and organize reports. It's a huge win for folks managing this aspect".
Siemba is continuing to expand on its product capabilities and business footprint. The company has been selected as a Top 250 Security Provider by MSSP Alert for five straight years now. Siemba was also selected as a Venture Atlanta Showcase Company in 2022. Siemba is also part of Georgia Tech's Advanced Technology Center and the 2023 AI/ML cohort of the Fuel Accelerator funded by the Walton Family Foundation and Arkansas Economic Development Council.
About Siemba
Founded in 2018, Siemba is on a mission to enable enterprises build scalable and repeatable Cybersecurity Testing Programs that continue to evolve with their business needs. Siemba has been named a Global Top 250 Security provider every year since 2019 by MSSP Alert. For updates, follow us on LinkedIn, and visit our blog.
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.
Media Contact
Nithin Thomas, Siemba Inc, 4047544309, [email protected], siemba.io
SOURCE Siemba Inc
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