Funding round raises $190M for Blackpoint Cyber

SiliconAngle reports that managed cybersecurity services provider Blackpoint Cyber has landed a $190 million investment from a Series C funding round, which the startup said would be allocated toward increasing its workforce and improving its technology. Blackpoint Cyber has been offering the SNAP-Defense software platform, which includes managed detection and response technology and enables network activity visibility across managed services providers' on-premises and cloud environments, as well as employee devices. Along with SNAP-Defense, Blackpoint Cyber has also been offering the LogIC service that seeks to ease data security compliance and another tool preventing unauthorized software installations, as well as the Blackpoint RISK insurance service with cyberattack coverage. "The MSP market is growing fast, and we are matching that growth by scaling and innovating new cybersecurity solutions. Cyberattacks are becoming more sophisticated and advanced, forcing MSPs to adapt rapidly to protect their customers and infrastructure," said Blackpoint Cyber founder and CEO Jon Murchison.