Seventh annual list reveals leading MSSP, MDR and MSP security companies expect strong revenue growth in 2023 vs. 2022
September 14, 2023, Buffalo NY: Sedara 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.
Sedara was ranked among among the Top 250 MSSPs for 2023.
Darrick Kristich, CEO of Sedara, expressed his pride in the company’s achievement, stating, “Securing the 110th position in the TOP 250 MSSPs for 2023 is a remarkable testament to our unwavering commitment to delivering top-tier security solutions to our valued clients.” Darrick added, “This recognition reaffirms the exceptional expertise of our cybersecurity team and the trust that our clients place in us. As the threat landscape continues to evolve, we remain committed to maintaining a leadership position in cybersecurity innovation.”
“MSSP Alert and CyberRisk Alliance congratulate Sedara 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.
Sedara has been providing MDR/XDR services to companies and organizations for over 10 years. Sedara focuses on middle-enterprise and larger organizations and specializes in compliance-driven verticals, such as Aerospace and Defense, Government, Healthcare, Education, and Financial Services. Sedara’s extreme growth has allowed us to expand our service offerings as well as the depth of our services to provide a comprehensive cybersecurity program for organizations that covers all elements of risk mitigation, compliance, and overall security. Sedara is also bringing a suite of proprietary products and interfaces to its customers in 2023, which is expected to add to additional growth and customer value in the near future.
Founded in 2013, Sedara’s mission is to streamline practical and effective cybersecurity for organizations. Headquartered in Buffalo, NY the growing organization is focused on supporting the people, processes, culture, and technology that are collectively involved in generating and maintaining a healthy cybersecurity posture. Rooted in the NIST cybersecurity framework, this MSSP offers independent services, compliance support, and programs to progress an organization’s cybersecurity maturity. Click here to learn more.
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