TrapX Security CEO on plans to ramp up investment in MSSPs

Nima Green
clock • 3 min read
TrapX Security CEO on plans to ramp up investment in MSSPs

The US security vendor’s CEO claims its new deception-as-a-service solution will help it recruit more MSSP partners in 2021

TrapX Security CEO Ori Bach is promising MSSPs increased go to market investment, as the US cyber detection specialist sets its 2021 strategy.

"We're definitely going to make an additional investment in MSSP partnerships. Because we believe that those are valuable to us," Bach told Channel Partner Insight.

"COVID-19 is causing all of us to assess our partnerships. And what we found is that the partners which are most focused on security versus a more generalised integrator were actually an amazing asset for this time of disruption in the markets.

"They're closer to the customers. They understand how the customer's needs are changing. They have that access, and that's what we want to invest in as a huge asset for us."

Founded in 2014, the US security vendor sells 100 per cent through the channel and focuses primarily on the enterprise market, competing with the likes of Fortinet.

Its technology is built on a strategy of deception, creating a "minefield" for cyber attackers with decoys that imitate customer assets.

Of the 70 active partners around the world, currently the majority are resellers and VADs who focus on security, such as British MSP Perfomanta and Pan-European distributor Distology.

However, around 30 per cent of TrapX Security's revenues are now derived through MSSPs; a figure Bach intending to grow next year.

As part of the vendor's pivot towards the MSSP space, it's just launched what the vendor claims is the first deception-as-a-service solution, TrapX Flex.

"Security specialists in our space can see that with our SaaS technology, in essence, instead of trying to find the needle in the haystack - the malicious hacker activity - we actually get the needle to come to us by deceiving the attackers, misinforming them, diverting them, and causing them to fall in one of the elaborate traps," he said.

When asked what he sees as one of the top trends in the security market for next year, Bach named VPN credentials being stolen as remote working continues to be the norm.

"I think the number one opportunity for the channel is to be able to give visibility, because currently security teams are blind.

"We're seeing that bad actors are targeting remote workers who historically operated in an office setting. So think about your finance people, your contact centre people, they were used to working in an office setting where they had a whole supportive structure physically and with IT security.

"Now they're exposed, they're out there in the wild."

Collaboration platforms like SharePoint or productivity platforms like Salesforce are also being targeted with increasing regularity, he added.

"This is not a temporary thing, but something that is really with us to stay.

"And I think once you've made that adjustment, once you've changed your business model or your operation to allow it, it's actually hard to go back.

"That's going to really impact security priorities."

TrapX expanded in northern Europe in March with a deal with UK-HQ VAD Distology.

Bach picked out Holland, the UK, Germany and France as the vendor's top EMEA markets.

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