Fifth-Annual List Honors Leading MSSP, MDR and SOCaaS Cybersecurity Companies Worldwide
MSSP Alert, published by After Nines Inc., has named High Wire Networks and the cybersecurity division, Overwatch Managed Security, to the Top 250 MSSPs list for 2021 (https://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 services providers. The fifth-annual list and research report track the managed security service market’s ongoing growth and evolution.
“We are thrilled to be named a top MSSP for the second year in a row,” said High Wire CEO Mark Porter. “We offer our MSPs partners a cost-effective way to deliver end-to-end managed security services with a 24/7 security operations center (SOC) and the experts to respond and mitigate to threats immediately.
He added, “According to Tech Crunch there were 304 million ransomware events last year, at an average cost of $178,000.00 per incident. Overwatch provides our partners the tools and information they need to help their customers improve their cyber security posture every day.”
“After Nines Inc. and MSSP Alert congratulate High Wire Networks on this year’s honor,” said Amy Katz, CEO of After Nines Inc. “Amid continued ransomware, malware and supply chain cyberattacks, 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%).
The Top 250 MSSPs list and research were overseen by Content Czar Joe Panettieri (@JoePanettieri). Find the online list and associated report here: https://www.msspalert.com/top250.
Highlights of Overwatch in 2021:
- 22% increase in monthly recurring revenue (MRR) and a 41% boost in total contract value (TCV) month over month from June to July 2021
- (MSP) partner acquisitions, up 418% from July 2020 to July 2021 and up 69% since the start of the calendar year
- Record number of end customers, up 2,700% year-over-year and up 229% year-to-date
About High Wire Networks
For 20 years, High Wire Networks has been a managed cybersecurity services provider and a trusted partner to VARs, MSPs, distributors, integrators, manufacturers, and telecom providers by enabling them to minimize overhead while extending delivery capabilities around the world. Our flexible workforce delivers vendor-agnostic technical field, professional and security services in more than 180 countries. Our services include design, installation, configuration, and support for unified communications, wired and wireless networks, cabling and infrastructure, and electrical systems. Our Overwatch Managed Security Platform-as-a-Service enables our Cybersecurity Partners to deliver comprehensive cybersecurity that’s easy to sell and easy to buy for an affordable subscription. We also offer a variety of on-demand, rapid-response solutions with service levels ranging from two hours to the next business day for onsite break-fix and remote technical support. With High Wire Networks, partners Get Work Done. Learn more at https://www.highwirenetworks.com
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).
- For sponsorship information contact After Nines Inc. CEO Amy Katz, Amy@AfterNines.com
- For content and editorial questions contact After Nines Inc. Content Czar Joe Panettieri, Joe@AfterNines.com
Media Relations
Susanna Song
Vice President, Marketing and Communications
High Wire Networks
Susanna.song@highwirenetworks.com
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