by Jim Masters • Nov 9, 2022
The business, founded in 2020, came out of stealth in August 2021 when it raised $20 million in Series A funding. Today, the business, led by CEO Scot McCrady, specializes in offering standard MSSP services to its core market of small and medium-sized business (SMBs).
SolCyber describes its business as “boiling down Fortune 500 security into a foundational set of capabilities in an easy to consume per user/per month subscription.” The service includes 24×7 detection and response capabilities and a curated set of technologies that cover broadly across the kill chain, including phishing simulation, advanced email, EPP & EDR, privilege abuse and lateral movement detection. The solution is cyber insurance validated, promoting expedited applications and up to 30% premium discount to businesses.
SolCyber Says “Howdy Partner”
McCrady notes that among its “smartest” business moves in 2022 was the “continuous evolution of our Foundational Coverage offering to continually add more value.” He also noted bringing to market the “first preferred cyber insurance program” and launching the SolCyber “Howdy Partner” program to engage with both MSP and referral-style partners.
Through the SolCyber Insurance+ program, customers receive up to a 30% discount and a 10% rebate, a shorter application process, and assurance from a credible third-party, McCrady said.
Key business relationships include partnerships with Convergate and Surefire Cyber, as well as with technology partners that power its security operations center (SOC), namely SentinelOne, Area1 (now part of CloudFlare), Right-Hand Security, Attivo and Ermetic. McCrady adds that Ubiq Security is one of SolCyber’s premier customers.
“They were our first design partner and helped us ensure that we can truly provide Fortune 500 security even for the smallest of companies,” he said.
What’s Ahead For SolCyber
Priorities for SolCyber in 2023 include:
- Continue building momentum and awareness in the SME market
- Bringing on additional headcount to support sales, marketing, customer support and engineering efforts.
- Extension of services in key problem areas such as privacy, mobile and secure security as a service (SaaS) access
McCrady offered his take on his company’s success:
“The feedback from the market has been amazing. So, we believe we have hit upon a key need, which is world class security packaged in an easy to consume, quick to roll out, and financially simple — monthly pricing per user, no install fees, upfront fees, etc. Customers love it.”