Secureworks

Secureworks Inc. is an American cybersecurity company. The company has approximately 4,000 customers in more than 50 countries,[1] ranging from Fortune 100 companies to mid-sized businesses in a variety of industries.[2]

Secureworks Inc.
TypePublic company
NASDAQ: SCWX (Class A)
Russell 2000 Index component
IndustryCybersecurity
Headquarters
Atlanta, Georgia
,
U.S.
Area served
North America
Europe
Middle East
Asia
Africa
South America
Key people
Michael R. Cote (President & CEO)
ProductsRed Cloak Threat Detection and Response Managed Detection and Response
Websitesecureworks.com

It became part of Dell Technologies in February 2011 and was later the subject of an IPO to again become a public traded company in April 2016. It is still majority-owned by Dell.

History

Secureworks was founded as a privately held company in 1998 by Michael Pearson and Joan Wilbanks. In 2002 Michael R. Cote became President and CEO. In 2005, and again in 2006, the company was named to the Inc. 500 and Inc. 5000 lists[3] 2006[4] and Deloitte’s Fast 500.[5]

In 2006, Secureworks merged with LURHQ Corporation and the new entity continued under the Secureworks corporate name. LURHQ, which was founded in 1996 in Myrtle Beach, SC and provided managed security services to large enterprises, had similar company cultures and leadership to Secureworks. According to Gartner, the merger created a stronger company.[6] With the merger, Secureworks was able to leverage Sherlock, LURHQ's portal, to unify its combined customer base onto a single integrated security management platform.[6]

In 2009, Secureworks acquired the Managed Security Services (MSS) business from VeriSign, Inc., a provider of internet infrastructure services for the networked world, and grew to more than 500 employees worldwide.[7] The acquisition expanded its clients to approximately 2,600 in more than 50 countries, including the United Kingdom, Saudi Arabia, Taiwan, Finland, Spain, Brazil and Mexico. This includes four of the Fortune 10. Also in 2009, Secureworks acquired the then 10-year-old dns Limited. This acquisition expanded Secureworks' operation to include a UK-based operations center and additional offices in London and Edinburgh.[8]

On January 4, 2011, Dell announced that it would acquire Secureworks to be part of Dell Services. Dell Secureworks officially began operating as a Dell subsidiary on February 7, 2011.[9]

Dell Secureworks continued to expand its portfolio around the world and in May 2013, it arrived in the ANZ region. The move to Australia and New Zealand put Dell in the ring of the security services market with companies like IBM, HP, and Verizon.[10] Dell Secureworks opened an operations center in Sydney to meet demands from local Australia businesses, the most in demand services in this area being Penetration Testing, forensic investigations and ongoing monitoring of environments for attacks.[11]

On December 17, 2015, Secureworks filed to go public.[12][13] Subsequently, on April 22, 2016, announced its IPO, raising $112 million after pricing its IPO at $14 per share. However, the company was expecting the initial price to be between $15.50-$17.50. This was the first tech IPO in the U.S. in 2016.[14] In August 2017, Secureworks rebranded its logo and changed capitalization of the 'W' in its name to lower case.

In an evolution of its long standing business of selling Managed Security Services (MSSP), in April 2019, Secureworks announced the availability of Red Cloak Threat Detection and Response a cloud based, SaaS next-generation SIEM product designed to analyse, detect, investigate and respond to malicious threats across an organizations endpoints, network and cloud environment.[15] As of June 2020,[16] the company reported 40% Annual Recurring Revenue growth from its SaaS solution.

Along with 20 other cyber security software providers, Secureworks took part in the MITRE ATT&CK Endpoint Protection Product Evaluation. MITRE ATT&CK® is a globally-accessible knowledge base of adversary tactics and techniques based on real-world observations. The ATT&CK knowledge base is used as a foundation for the development of specific threat models and methodologies in the private sector, in government, and in the cybersecurity product and service community. Secureworks Red Cloak Threat Detection and Response was 100% successful at detecting activity for the Persistence, Privilege Escalation, Discovery and Lateral Movement tactics and techniques, which underscores Secureworks’ ability to detect attacks early in the kill chain. Red Cloak TDR had telemetry visibility across the MITRE ATT&CK Framework and was able to capture attacker activity during each step of the evaluation, as well as provide visibility or generated detections across 90% of technique categories used in the evaluation[17]

May 21, 2020 Secureworks signaled a shift away from a primarily direct go to market model to a channel focused business model with the announcement of the Secureworks Global Partner Program, designed to attract and reward resellers and referral partners who sell Secureworks software.[18]

Accolades

Sep, 2020, Secureworks® positioned as a Leader in the IDC MarketScape for Managed Security Services 2020 Vendor Assessment[19]

May, 2019 "Leader" in Gartner Magic Quadrant for Managed Security Services, Worldwide[20]

Q2; 2018 "Large vendor" Forrester Now Tech: Managed Detection And Response (MDR) Services, Q2 2018 [21]

Threat Groups and Threat Actor Intelligence

Secureworks took published Threat Group profiles in May 2020. In Secureworks parlance, Threat Groups are "intrusion sets" or "clusters of observed activity"; that exist in cyberspace; attempt to cause harm to organizations or businesses.[22] Threat Actors are real-world people and organizations, with real-world locations. The Secureworks Counter Threat Unit (CTU) research team began publishing Threat Group profiles on the Secureworks website, including a summary of the groups, their objectives, other aliases by which the groups are known, and the malware they use. Both criminal and government-sponsored Threat Groups are included. Key threat groups include Aluminium Saratoga , Bronze Atlas, (Also known as APT41 or Wicked Panda) and Iron Hemlock (also known as APT29, or Cozy Bear).

References

  1. "Secureworks Reports Fiscal 2017 Fourth Quarter and Full Year Results". Yahoo Finance. March 29, 2017. Retrieved 2017-04-26.
  2. "Secureworks, Inc., Atlanta, GA United States". Hoovers. Hoover's, Inc. Retrieved 18 March 2011.
  3. "No. 79 – Secureworks". Inc. Magazine (Mansueto Ventures LLC). 2005. Retrieved 18 March 2011.
  4. "Inc. 500 Security Firm Wins Innovation Prize". Inc. Magazine (Mansueto Ventures LLC). 5 March 2007. Retrieved 18 March 2011.
  5. "Secureworks Ranks Third Among Georgia's Fastest Growing Technology Companies in Deloitte's Technology Fast 50 Program". redOrbit (Atlanta, Georgia). 7 October 2005. Retrieved 18 March 2011.
  6. Kavanagh, Kelly M. (18 March 2011). "Secureworks/LURHQ Merger Creates a Stronger MSSP Player". Gartner Research. Gartner Inc. Retrieved 25 September 2006.
  7. "Secureworks Closes Acquisition of VeriSign's Managed Security Services Business". VeriSign News. 7 July 2009. Retrieved 18 March 2011.
  8. WebsiteGear.com, 2009
  9. Frink, David (18 March 2011). "Dell To Acquire Secureworks". Dell Financial News (Round Rock, Texas: Dell, Inc). Retrieved 4 January 2011.
  10. Braue, David (May 22, 2013). "Dell targets ANZ security opportunities as Secureworks debuts locally". CSO Online. IDG Enterprise. CSO. Retrieved 27 May 2015.
  11. Kidman, Angus. "Dell Secureworks: Australians Eager For Penetration Testing". lifehacker. Allure Media. Retrieved 27 May 2015.
  12. Alex Wilhelm, TechCrunch. “Dell Subsidiary Secureworks Files To Go Public, Shows Ramping Losses.” Dec 17, 2015. Dec 17, 2015.
  13. "Dell Files for IPO to Spin Off Secureworks Business Unit". The VAR Guy. Jan 6, 2016.
  14. Katie Roof, TechCrunch. “Dell's Secureworks stumbles in first tech IPO of the year.” April 22, 2016. April 22, 2016.
  15. "Secureworks Launches New Cybersecurity Analytics Application". www.secureworks.com. Retrieved 2020-08-20.
  16. "Secureworks Reports First Quarter Fiscal 2021 Results | Secureworks Corporation". investors.secureworks.com. Retrieved 2020-08-20.
  17. "Secureworks Delivers Visibility and Detection Across the MITRE ATT&CK® Framework in First Evaluation of Red Cloak Threat Detection and Response". www.secureworks.com. Retrieved 2020-08-20.
  18. "Secureworks Launches New Global Partner Program to Address Growing Demand for Cybersecurity Solutions". www.secureworks.com. Retrieved 2020-08-20.
  19. "IDC MarketScape Report: Worldwide Managed Security Services 2020 Vendor Assessment". www.secureworks.com. Retrieved 2020-09-24.
  20. "Secureworks Positioned as a Leader in the Gartner Magic Quadrant for MSS Worldwide 2019". www.secureworks.com. Retrieved 2020-08-21.
  21. "Secureworks MDR Solution Cited By Forrester in a 2018 Report". www.secureworks.com. Retrieved 2020-08-21.
  22. "Counter Threat Unit researchers publish Threat Group definitions". www.secureworks.com. Retrieved 2020-08-21.
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