Huntress Gets $18M to Help boost SMB Cybersecurity Through MSPs

Kyle Hanslovan, CEO of Huntress calls himself a “malware connoisseur,” a humorous moniker meant to remind us he knows a lot about cybersecurity. In addition to working for private industry, he spent ten years as a Cyber Warfare Operator at the Air National Guard. Cofounder Chris Bisnett worked at the Navy for five years in networking and cybersecurity. Founder John Ferrell has almost twenty years in networking and cybersecurity.

Together they delivered Huntress, a SaaS-based managed detection and response (MDR) provider for MSPs.

At the recent MSP Expo part of the #TECHSUPERSHOW in Fort Lauderdale, Florida, thousands of MSPs came, looking for cybersecurity solutions to resell to their customers. The time has come for cybersecurity to be the main topic of conversation when selling technology. Without proper security, things get hacked. For example, a pipeline was hacked yesterday thanks to spear phishing.

Ernie Bio, Vice President at ForgePoint Capital

Still, small businesses are way behind. they often hope for the best. We have witnessed companies getting attacked once and not taking proper precautions and then going bankrupt as a result of their second attack.

This happens because they don’t have the funds to continue operations while their data gets restored or re-entered or a loss of customers or reputation could be the reason for their demise.

The company just received an $18M Investment Led By ForgePoint Capital – part of a $450 million cybersecurity fund. They have 1,000 MSP partners now and are looking to significantly grow this number in new markets.

“Many of these cyberattacks have grown in sophistication and SMBs are demanding advanced capabilities from their IT and security providers to defend themselves,” says Ernie Bio, Vice President at ForgePoint Capital. “To meet this growing demand, the Huntress team built an accessible MDR as a service solution. We at ForgePoint are impressed by the Huntress team’s domain expertise, relentless drive, and passion to protect all customers from today’s advanced cyberthreats.” Bio will be joining the Huntress board along with Alberto Yépez, Co-Founder and Managing Director of ForgePoint.

Kyle Hanslovan, CEO of Huntress

“While working at NSA and cooperating with FBI, we saw firsthand how attackers establish persistence in systems, either waiting for the opportune moment to attack or selling access as part of a full-fledged business model,” says Kyle Hanslovan, CEO of Huntress. “We wanted to make threat detection available to small businesses, who are under attack just as much as large enterprises. We call it cybersecurity for the 99%. We believe that the best way to effectively reach these businesses is by enabling and empowering the channel.”

We wish the company well – there is still a ton of opportunity in the cybersecurity space – especially when targeting MSPs. there is no dominant player.

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