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CYDERES Tracks 1214% Growth and Hires Chris Currin as CBDO

Fishtech Group's Security-as-a-Service division is its fastest-growing area

KANSAS CITY, Mo., Jan. 21, 2020 /PRNewswire/ -- CYDERES, the Security-as-a-Service division of Fishtech Group, has capped an incredibly strong second full year of operations with 1,214% growth in year-over-year (YOY) in bookings and 960% YOY growth in gross profit.

CYDERES is the Security-as-a-Service division of Fishtech Group that has been tapped to deliver managed detection and response services for Chronicle's Backstory global platform. (PRNewsfoto/Fishtech Group)

CYDERES provides the people, process, and technology to help organizations manage cybersecurity risks, detect threats, and respond to security incidents in real time. CYDERES solutions include Managed Detection and Response (MDR), Security Operations Center as a Service, Cloud Security as a Service, Red Team as a Service, and Security Incident Response services.

On track to triple its year-over-year business growth in 2020, CYDERES has hired security industry veteran Chris Currin as Chief Business Development Officer. Currin is focused on helping CYDERES achieve its growth objectives and helping lead its go-to-market initiatives.

Key growth statistics for CYDERES point to a solution that is resonating with clients of all sizes, from small and midsized businesses to multiple Fortune 500 and FTSE 100 organizations:

  • 212% achievement of CYDERES 2019 bookings plan
  • 220% net revenue retention rate with zero "churn"

"We're exceptionally proud of our results to date and even more excited about the growth to come," said Eric Foster, President of CYDERES. "We know customers deserve a managed security service provider that delivers a legendary service at a fair price, and we're honored that so many organizations trust Fishtech Group and CYDERES to be their provider. We look forward to helping transform the security industry with the help of our industry-leading security solution partners."  

Technology partners integrated into the CYDERES Cyber Defense Platform and delivered in its Security-as-a-Service model include: Google's Backstory global security telemetry platform; Corelight and Perch Security for network traffic analysis; deception solutions from Thinkst and Illusive Networks; phishing defense solutions from Cofense, Mimecast and Proofpoint; vulnerability management solutions from Qualys, Tenable and Kenna Security; and managed Endpoint Detection and Response (EDR) solutions for every major endpoint platform including Carbon Black, Crowdstrike, Cylance, LimaCharlie, Microsoft Defender ATP, SentinelOne, and Tanium.  Integrated solutions for the CYDERES Cloud security service include Disrupt:Ops and Palo Alto Prisma Cloud.

In September, CYDERES was named as #25 in the Top 200 MSSPs list for 2019 by MSSP Alert, published by After Nines Inc. The list honors the top 200 managed security services providers (MSSPs) that specialize in comprehensive, outsourced cybersecurity services.

About Fishtech Group
Fishtech Group is the leading current-generation service provider enabling secure business transformation. Our experienced cybersecurity professionals plan, produce, and implement innovative solutions that ensure security and success. We focus on threats so you can focus on your business. Founded and led by CEO Gary Fish, Fishtech Group includes the Security-as-a-Service division CYDERES and the security analytics firm Haystax of McLean, VA. Fishtech venture partners include Perch Security of Tampa, FL, and Foresite of Overland Park, KS. Visit https://fishtech.group/ or contact us at info@fishtech.group.

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SOURCE Fishtech Group