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

Friday, September 15th, 2023, Dublin, OH: Dark Rhino 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.

 

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.

Dark Rhino Security was ranked among the Top 250 MSSPs for 2023.

“For the third year in a row, Dark Rhino has been recognized by the respected MSSP Alerts for our continued innovation and outcome-based approach to Cyber Security,”  said Kevin Casey, CEO of Dark Rhino Security.  “Having moved from the #146 spot in 2021, #129 spot in 2022, to now making the top 100 with our #84 spot in 2023, We are proud of all we have accomplished and cannot wait for the future,”

“MSSP Alert and CyberRisk Alliance congratulate Dark Rhino 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, of MSSP Alert and ChannelE2E.

 

Click here to download the list and associated report.

 

About Dark Rhino Security

Based in Dublin, Ohio, Dark Rhino Security is a leading MSSP/MDR innovator providing comprehensive “defense in depth” to small and medium businesses. Dark Rhino was founded six years ago by a team of veteran management consultants and cybersecurity experts with extensive U.S. military experience and is led by CEO Kevin Casey, a strategist who rose through the ranks of a top-five management consulting firm to running the IPO of a $3 billion company and launching seven start-ups. Dark Rhino Security is the leading value innovator regarding cybersecurity solutions in North America, Founded on technical innovation and is driven by value innovation. Value innovations come from strategic technology partnerships and engineered and integrated processes that are scalable and thus enable exceptional service at volume pricing.

“Companies have seen cybersecurity purely as a question of, how can they mitigate and manage risk?” Casey said. “But the pace of digital transformation forces companies to shift their thinking to the question of how they can leverage cybersecurity to give the company a competitive advantage. Companies that make the right decisions now will render their competition irrelevant.”

Dark Rhino’s mission is to deliver technical innovation, driven by value innovation and provide solutions that are easily implemented and with major long-term benefits. Via partnerships and efficient internal processes, Dark Rhino Security can deliver enterprise network security that is 30% less expensive than comparable programs, integrating seamlessly with in-house security teams or managing cybersecurity end-to-end.

 

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.