High Wire Networks, Inc. (OTCQB: HWNI), a leading global provider of managed cybersecurity and IT enablement services, has completed the onshoring of 100% of its 24/7 network and security operation centers to Batavia, Illinois.
High Wire’s security operation center (SOC) is powered by the company’s award-winning Overwatch managed cybersecurity platform, which over the past year has expanded by more than 430% to nearly 1,000 SMB and enterprise customers worldwide. These include a number of Fortune 500 companies with locations around the world.
The record growth has been largely driven by the company’s innovative MSP Partner Program which its membership now totals more than 200 worldwide, with this also including companies that make up the Fortune 500. These channel partners have turned to Overwatch to address their business customers’ growing demand for more manageable and effective cybersecurity solutions.
“The rapid growth of our managed cybersecurity userbase demonstrates the critical importance and effectiveness of Overwatch in strengthening their security posture,” stated High Wire president and CEO, Mark Porter. “We believe companies are discovering that our Overwatch cybersecurity is unparalleled with its defense-in-depth strategy and ability to customize communication at scale. Instead of simply reacting to alerts, Overwatch enables cybersecurity analysts to proactively track down threats and spend more time on pursuing high value targets.”
Also underpinning the growth of Overwatch has been the growing adoption of corporate policies that support the operationalization of cybersecurity and require the implementation of best practices that strengthen a company’s cybersecurity infrastructure. When properly implemented by High Wire’s cybersecurity experts, such operationalization results in a security posture that is more capable of addressing more advanced and continuously evolving cyberthreats.
High Wire has also now fully deployed its Overwatch SOAR platform, which is a proprietary security orchestration, automation and response technology that overlays the company’s network and security operation centers. SOAR automatically consolidates alerts from various threat prevention and detection-and-response platforms, providing enhanced visibility, improved correlation and faster remediation.
“The dynamic integration of best-in-class security tools across our Overwatch platform, along with SOAR acting as a powerful force multiplier, enables us to provide the most secure and cost-effective cybersecurity solutions available on the market today,” noted High Wire Networks CTO, David Barton. “Since we incorporate enrichment and threat intelligence into our systems and processes, our security professionals can cut through the noise, spend less time on low value, reactive-based work and more time on threat hunting.”
Overwatch SOAR allows security teams to run multiple remediation processes simultaneously. Action steps that previously would take minutes can be completed in seconds automatically, with this resulting in more efficient and effective cyber protection.
Overwatch combines SOAR with High Wire’s Managed Extended Detection and Response (MXDR) technology and Managed Endpoint Detection and Response. This enhanced operationalization of cybersecurity enables users to continuously evolve along with the ever-quickening pace of ‘cybertime’ and intensifying cyber risk.
“Onshoring our network operation center and SOC significantly strengthened our cybersecurity infrastructure and processes, with this providing us a clear competitive edge,” added Porter. “We see this helping to drive continued strong growth in our managed cybersecurity business. In fact, we are seeing an increasing number of clients turning to us to add additional services, with this driving record backlog for Overwatch which is currently at more than $6.5 million.”
High Wire’s IT enablement offering, which is comprised of professional and managed IT services, addresses a global IT service market that is expected to grow at a 5.8% CAGR to reach $2.6 trillion by 2030. Overwatch addresses a global cybersecurity market that is projected to grow at a 13.4% CAGR to reach $376 billion by 2029.