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

Baltimore, MD January 10, 2024: SOClogix 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.

SOClogix was ranked #151 among the Top 250 MSSPs for 2023.

“We are immensely proud to be recognized in the MSSP Alert Top 250 MSSPs for 2023. This accolade reflects our team’s unwavering commitment to excellence and innovation in managed security services. At SOClogix, we continuously strive to empower our clients with cutting-edge cybersecurity solutions, ensuring their digital landscapes are robust and resilient against evolving threats. This recognition not only honors our current achievements but also fuels our ongoing mission to redefine the standards of cybersecurity services.” – Matt Johnson, CEO, SOClogix

“MSSP Alert and CyberRisk Alliance congratulate SOClogix 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 SOClogix
As cyber threats continue to evolve, businesses require robust cybersecurity solutions to safeguard against potential attacks. SOClogix provides a comprehensive suite of cybersecurity services, including incident response, digital forensics, penetration testing, and managed SOC services, to help protect your business from these threats. Our team of experts utilizes advanced tools and technologies to monitor and detect potential threats, providing real-time analysis and response to prevent cyberattacks before they cause damage. With SOClogix’s industry-leading cybersecurity solutions, you can have peace of mind knowing that your business is protected from cyber threats and that our team provides the highest level and support.

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 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.