Locknet Managed IT Named to MSSP Alert’s 2023 List of Top 250 MSSPs

Locknet Managed IT ranks among the Top 250 MSSPs 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.

Locknet Managed IT was ranked 18th among the Top 250 MSSPs for 2023.

“To be ranked 18th globally is outstanding and a testament to the work our team does to stay abreast of the latest cybersecurity threats and solutions,” said Kris Kilgard, Division President, Locknet Managed IT. “Our clients appreciate our world-class service as we balance their productivity and security, and we appreciate the partnerships we have developed with other outstanding businesses throughout the Midwest.”

“MSSP Alert and CyberRisk Alliance congratulate Locknet Managed IT 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, MSSP Alert and ChannelE2E.

Click here to download the list and associated report.

About Locknet Managed IT

Locknet Managed IT Services, an EO Johnson company, is one of the top managed service providers (MSP) and managed security service providers (MSSP) in the nation. They specialize in strategic cybersecurity, providing a broad range of solutions expertise customized to fit business needs for small and mid-market clients across all industries. With clients and offices throughout Minnesota, Wisconsin and Iowa, Locknet has provided world-class technology strategies for companies for more than 30 years, founded on the promise of keeping Your Network. Safe. Locknet delivers a range of managed security and network management services, including technology assessments, cloud services, advanced managed security, end user support, server and PC management, private-cloud backup, data center services, and much more. Overall, the company provides more than 15 advanced solutions to support the unique needs of their business clients. Locknet partners with leading-edge technology manufacturers, is UCS/SOC 2 Type II audited, and an FFIEC examined TSP, ensuring clients enjoy the highest level of trust and peace of mind. Read more at www.locknetmanagedIT.com.

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 and 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.