As cybercriminals continue to intensify their efforts, there are more opportunities for cybersecurity companies to grow and prosper. Managed security services provider (MSSP) Proficio closed out a record-breaking 2017, and expects to double revenue and market share this year.
Proficio reached a pivotal turning point in its expansion and growth in 2017. It further grew its global footprint when it opened its third security operations center (SOC) in Barcelona, Spain, and expanded its operations in Asia Pacific and in Atlanta, Georgia.
The company added to its growing portfolio of services to include incident response, expanded vertical offerings and managed services for Splunk. Managed services for both Splunk Enterprise and Splunk Enterprise Security were launched, offering managed or co-managed service models.
Proficio now has experienced 28 consecutive quarters of recurring revenue growth, fueled by an increase in client base, including organizations in legal, online retail and finance sectors. The industry additions helped diversify Proficio’s growing portfolio and increased the company’s vertical capabilities.
In a Q&A with Channel Partners, John Humphreys, Proficio’s senior vice president of business development and alliances, talks about the increasing threat organizations face, and how his company is helping partners to capitalize on this growing need for security.
Channel Partners: What is fueling your company’s rapid growth?
John Humphreys: Firstly, it’s the need in the market. The pace of security breaches and ransomware, and all the demands associated with compliance that have continued to grow place a lot of pressure on enterprises, from medium-size companies up to the very largest, so the challenge is, “How do they meet those goals?” What we’re finding is increasing openness to work with solution providers like ourselves who essentially offload a lot of the work around analyzing coming threats, 24/7 monitoring, providing guided advice and incident-response management solutions. So it’s driven by need, and it’s also driven by our growing capacity to provide that need, which is around investments we’ve made — and also, we’re building our sales team and our channel partner team to meet that need.
CP: With cyberattacks at an all-time high last year and this year expected to be even worse, how is your company and the industry in general responding to all of that?
JH: It sparks a lot of interest from organizations [that] maybe have in the past underinvested in this area. … A piece of this puzzle is the continuing and worsening shortage of cybersecurity professionals in the market. So even though universities have put a lot of emphasis on trying to train people, the gap is getting worse and … the reality is, the fewer people you have available to address this internally, the more difficult it is to ensure your organization is properly prepared for a potential attack. We are in the business of building a team and having highly qualified cybersecurity experts so we can help people with …