Santa Barbara, CA – MSSP Alert, published by After Nines Inc., has named Novacoast, Inc. to the Top 250 MSSPs list for 2020 (http://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 2020 readership survey combined with the digital media site’s global editorial coverage of managed security services providers. The fourth-annual list has expanded from 2019 (200 honorees) and 2018-2017 (100 honorees) amid MSSP Alert’s continued, organic readership growth.
“It’s incredible to see how our managed services group has evolved over such a short period of time,” said Novacoast CEO Paul Anderson. “We went from augmenting our staff so they could build SOCs for some of the top global financial organizations, to building our own SOC, to now operating four SOCs in 3 different countries and supporting some of the largest organizations in the world. I’m proud of our team ranking 33rd in our first showing. With our aggressive acquisitions and our new Cloud SOC offering, novaSOC, we hope to continue to climb up the ranks and provide the most value to our customers.”
“After Nines Inc. and MSSP Alert congratulate Novacoast on this year’s honor,” said Amy Katz, CEO of After Nines Inc. “Despite the coronavirus pandemic, this year’s honorees continue to accelerate their businesses, mitigate customer risk and safeguard digital assets worldwide.”
Highlights from the associated MSSP Alert research include:
• MSSP Revenue Growth: MSSP honorees, on average, expect to generate $19.15 million in revenue for 2020, up 16% from $16.47 million in 2019.
• Geography: Honorees are headquartered in 25 different countries — up from 19 countries in the 2019 report.
• Profits: 84% of MSSPs surveyed expect to be profitable for fiscal year 2020.
• Security Operations Centers: 67% have in-house SOCs, 24% are hybrid, 6% completely outsource their SOCs, and 3% are reevaluating their SOC strategies.
• Cyberattack Trends: The most frequent attacks targeting MSSP customers in 2020 include phishing (95%), vulnerability (76%) and ransomware (69%) attacks.
• Cybersecurity Solutions: In a continued sign of market fragmentation, MSSP survey participants mentioned 129 different hardware, software, cloud, and services vendors that assist their cybersecurity efforts — up from 95 in 2019.
• M&A: Mergers, acquisitions and private equity investments continue to accelerate across the MSSP landscape. Twenty high-profile deals involving MSSP 250 honorees have surfaced since last year’s report.
The Top 250 MSSPs list and research were overseen by Content Czar Joe Panettieri ( ( @ ) JoePanettieri) dot Find the online list and associated report here: http://www dot msspalert dot com/top250 dot
Novacoast’s mission as a leading cybersecurity advisory resource, according to CEO Paul Anderson, is to analyze emerging challenges and develop solutions ahead of demand. “We work to have an answer ready before we’ve been asked,” said Anderson.
When Novacoast’s identified a new and growing need for centralized, expert Security Operations resources, the company worked to think ahead. “We decided on a model that would give the customer the opportunity to stay in the loop and own their data,” said Anderson. “We wanted to provide scalable, powerful options that wouldn’t hold customers hostage with anything too proprietary on our side.”
This mindset continues to push Novacoast to make vital SOC monitoring and analysis available to everyone who needs it. “This year, we launched our cloud-based novaSOC offering, Anderson said. “We have big plans for it.” novaSOC combines automatic collection of endpoint data and complex correlation with threat intelligence sources with expert analysis and reporting—making a powerful layer of responsive security monitoring available to everyone, even organizations who lack the appetite for more traditionally comprehensive managed security.
“We worked hard to build the best Managed Security option out there,” said Anderson. “Now we’re working hard to put it in reach for everyone.”
About Novacoast, Inc.
Novacoast helps organizations find, create & implement solutions for a powerful security posture through advisory, engineering, development & managed services. We select resources for fearlessness and ingenuity, and support them with comprehensive delivery management and a culture of creative problem solving.
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).