Eventus Security, a leading global Managed Security Services provider, today announced that it has ranked 105th position among the Top 250 MSSPs company list. This accomplishment comes as part of the 7th annual worldwide survey conducted by MSSP Alert, a CyberRisk Alliance resource, which is the global voice of managed security services providers.
This marks Eventus’ inaugural participation in the survey, and in its very first attempt, it achieved an impressive rank among the world’s top 250 MSSPs. The entire Eventus team is thrilled and proud to have accomplished this remarkable feat.
“Eventus embarked on its journey in 2017 with a small yet highly committed team. Over the past seven years, we’ve charted a course of remarkable growth, celebrating numerous milestones along the way. Our recent and notable achievement, securing the 105th position among the globally recognized Top 250 MSSPs for 2023, stands as a testament to the unwavering dedication and relentless hard work that our team has poured into establishing our leadership in the MSSP domain. This achievement is closely aligned with our long-standing vision. Looking ahead, we’re confident in our ability to ascend even higher in the rankings in the years to come and our entire team remains committed to transforming this vision into reality,” said Manish Chasta, Co-Founder & CTO at Eventus Security.
CyberRisk Alliance surveyed its Top 250 MSSPs and associated participants. The result of the survey predicts that the participants expect to grow their annual revenue by 20% in 2023 when compared to 2022. That’s faster than the overall cybersecurity services market. The survey says Canalys expects the overall cybersecurity services market to grow by 14% in 2023, which is slower than the MSSPs’ growth. 87% of the MSSPs said that their business was profitable in 2022. Among the participants, 90% responded that they provide their own vulnerability assessment & managed vulnerability services, showcasing the growth of MSSPs and investment in developing their own tools.
The key findings of the survey 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.
“It’s a moment of immense pride for the Eventus family to secure a place in the prestigious global Top 250 MSSPs for 2023. This recognition not only validates our dedicated efforts but also reflects our expanding market footprint beyond India. Our participation in the survey has not only acknowledged our standing but also provided valuable insights into the global MSSP market landscape. The survey offered critical data revealing that 67% of MSSPs manage their own in-house Security Operations Centers (SOCs), with 50% classified as small MSSPs and 85% as large MSSPs. The survey further provides data on the types of security threats mitigated in 2023, with phishing (95%), vulnerability (91%), and ransomware (86%) ranking at the top of the list. These insights are invaluable as we craft our strategies to expand our reach and elevate our service offerings,“ expressed Sunil Sapra, Co-Founder & Chief Growth Officer at Eventus Security.
Eventus has established itself as a trusted managed security services provider, diversifying its portfolio to include dominant cybersecurity services including SOCaaS, Cyber Resilience, Threat Intelligence, and Incident Response. The team has achieved an impressive growth rate of over 100% during the last FY, 2022 – 2023. With its headquarters in Mumbai, Eventus has not only made significant inroads into the Indian market but has also ventured into international territory, establishing its presence in the Middle East and Southeast Asia in the past year. This strategic expansion positions Eventus to effectively cater to customers across multiple regions.