Global MSSPs enable OT cybersecurity firm Radiflow to double year over year revenue

Recent headlines and growing awareness are driving rapid growth in the global Operational Technology (OT) cybersecurity sector.

Projected to reach a total value of $18.1billion by 2023, according to Research and Markets, OT facilities face vulnerabilities that come from legacy ‘dumb’ devices becoming connected in the same facilities as ultra-modern technologies.

Gartner has recognized the vulnerability of these Cyber-Physical Systems (CPS) against increasingly sophisticated attacks, even identifying CPS and OT risk management as a new market. These kinds of attacks can result in the shutdown of mission-critical infrastructures or facilities.

Ships suddenly becoming inoperable near Iranian ports, the Colonial pipeline attack, and the JBS shutdown are examples of attacks that are becoming more common, especially in low-tech OT facilities, where a push for advanced industry 4.0 connectivity are creating potential vulnerabilities. In 2020, the FBI recorded 791,790 attacks, jumping 165% since 2016.

“Companies today require a single view and control point for both IT and OT environments- including an integrated Security Operations Center (SOC)” said Tony Velleca, CEO at CyberProof. “Radiflow’s unique technology integrated into CyberProof’s Managed Detection and Response services via their SaaS-based SOC services delivery platform, will enable a single, transparent view of converged IT-OT security operations as attackers seek to leverage IT networks to access OT assets.”

Standardization & legislation, such as IEC 62443 or the NIST Cybersecurity Framework led by the U.S. and the E.U., are pushing the industrial sectors to adopt structured processes for designing and implementing OT cyber-security.

To meet this demand with low financial risk, Radiflow has partnered with enterprise-level MSSPs to deliver holistic managed detection and response services globally.

“OT facilities can’t suddenly stop operations to assess vulnerabilities; that’s why IBM Service Providers can partner with Radiflow to assess, develop, implement, and manage complex facilities,” said Lee Harris, MSSP Sales Leader, EMEA at IBM. “With their latest release of CIARA, we can create mirrors of full OT networks and supply chains, allowing us to secure clients’ critical infrastructures without impacting their productivity.”

Working with facilities for over a decade, Radiflow has experience meshing various vendor softwares and connected edge devices into a single network. “Now, we rely on a cloud-based multi-facility approach, since trying to secure each device is a fool’s errand,” said Ilan Barda, CEO of Radiflow.

So, while 2021’s total number of attacks remains to be tallied, new solutions are helping companies protect against this rising problem.

About Radiflow

Radiflow is an OT Cyber Security company that has unique tools to protect and manage digital assets for the long term.

They work directly with Managed Security Service Providers to oversee the discovery and management of all relevant data security points.

Their unique pinpoint approach brings the businesses’ team into the fold, trading the industry’s one-size-fits-all approach for a calculated, focused, and secured system without inhibiting communication or productivity.

With offices in Europe and the US, Radiflow’s solution is installed in over 6000 sites around the globe.

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source https://www.jbklutse.com/global-mssps-enable-ot-cybersecurity-firm-radiflow-to-double-year-over-year-revenue/