With a recent $190 million funding round and exponential growth, Blackpoint Cyber is “tripling down” on MSPs as its CEO said the market continues to grow.
“We’re going to continue to invest heavily in MSPs because this market is huge,” Blackpoint Cyber founder and CEO Jon Murchison told CRN. “This market is growing at a 12 percent compound annual growth rate. Advanced security services are growing at about a 32 percent compound annual growth rate in MSPs. This is why you’re watching all the big companies come in, this is why you just saw Bain and Accel invest in us because MSPs are just growing. They have a great reason to exist and continue to grow. So I see us really tripling down on that.”
In June, the Ellicott City, Md.-based cybersecurity company secured $190 million in funding through Bain Capital Tech Opportunities and Accel to fund further development of security technology and enable its partners to combat the ever-evolving threat landscape.
It’s also hiring top talent. On Thursday, it unveiled the appointment of security industry veteran MacKenzie Brown as its new vice president of security.
“MacKenzie’s expertise in organizational security resilience further solidifies Blackpoint’s position as a thought leader in the security space,” Murchison said in a statement.“We are thrilled to have her on the Blackpoint team, where her experience will help advance our own organizational security initiatives as well as those of our partners.”
Brown joins Blackpoint following tenures at Optiv and the Microsoft Detection and Response Team, where she guided organizations in improving their security posture through Microsoft security solutions. She also developed security teams and training programs and supported organizations through incident recovery.
Brown will lead Blackpoint’s internal security strategy while enhancing the company’s product ecosystem and security focus on MSP and cybersecurity communities.
“For us I think a lot of our focus this year is a lot of hardcore people, process, ownership and we’re only hiring pro-level executives coming in now,” Murchison said. “That’s one of the advantages we get with being in Accel—their network of talent is just massive.”
Here is more of what Murchison had to say on growth, investment and where Blackpoint is headed in the future.
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CJ Fairfield is an associate editor at CRN covering solution providers, MSPs and distributors. Prior to joining CRN, she worked at daily newspapers, including The Press of Atlantic City in New Jersey and The Frederick News-Post in Maryland. She can be reached at [email protected].
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