Today, we’re announcing our $50 million Series B funding led by Insight Partners with participation from SentinelOne, GGV Capital, and Bessemer Venture Partners. Together with them, we believe that security teams deserve better. Better ways to collaborate, better ways to work, better ways to keep our lives and livelihoods protected.
This year we decided to provide security focused modules and content for the holiday season. These are parts of the security configuration we implement on our own infrastructure, based on OpenSCAP and other sources. By putting these into easy to use modules and writing about it, we hope to give our community of users something valuable: Educational and easy to understand security tips, along with configuration which can quickly be automated across your entire infrastructure, using CFEngine.
The managed security services market is booming. Coming in at $22.8 billion in 2021, it is projected to nearly double in just five years and grow to $43.7 billion by 2026. Moreover, cloud-based managed security services are poised to be the major growth driver for the broader MSP market, coming in at $219.59 billion in 2021, and expected to reach $557.10 billion by 2028. As we can see, providing robust security services is a key competitive differentiator for the lucrative MSP market.
Around the world, the pandemic tested the ability of governments to transform digitally in order to deliver uninterrupted services and to respond effectively to the demands of citizens, businesses, and global leaders in a time of crisis. From contact tracing to disbursing support packages to sharing best practices on how to contain the pandemic, governments needed to deliver these mission-critical services in a timely, secure, and compliant manner.
