Cybersecurity firm Cynet on Thursday unveiled a new partner program that it says will strengthen its channel-only strategy for sales and boost overall revenues for both the Boston-based company and its partners alike.
Cynet, provider of an automated extended detection and response (XDR) platform, said its new global partner program includes new pricing, discounts and resource features designed to reduce costs and increase revenues for channel players. It’s also intended to solidify the firm’s “channel-first business model,” the company said in a press release.
In an interview with CRN, Daniel Klein, chief business officer for the 300-employee Cynet, said his firm has “close to a thousand customers” – and Cynet would obviously like to grow that number. It also has hundreds of partners – and would like to grow that number too.
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“One of the critical things (for Cynet) is obviously to have a good partner program in place and a competitive one,” Klein said of Cynet’s reasons for rolling out a new program.
Klein said Cynet, which was founded in 2016 and has raised $76 million over the years, has created a “very aggressive, individualized rewards program” in order to create more incentives for partners.
“The channel is critical for growth for the company and we see that distribution is critical for sustainable growth of our partners,” he said.
Klein added that Cynet’s autonomous XDR technology is consistently ranked high in surveys for its quality – and sales at Cynet are driven by that quality.
“I expect the product to take the business to the (next) levels,” said Klein, who declined to disclose Cynet’s annualized revenues, though he did say revenues are growing rapidly.
In an interview with CRN, Robert Davies, CEO of Stealth-ISS Group, a cybersecurity consultancy and MSSP based in Tampa Bay, Florida, agreed Cynet has well-respected technologies that channel players and customers like.
“The thing that stands out for me the most is their commitment to their R&D program,” he told CRN. “They talk to companies like us to ask what clients are actually asking for when it comes to XDR and those types of services.”
He added: “I think their partner program has evolved in lockstep with the solution build out. It is full-service. We get full support whenever we need it. And it‘s just a pleasure to engage with a provider at that level.”
Cynet, which made CRN’s 2022 Emerging Vendors list, describes itself as the owner of the world’s first end-to-end, natively automated extended detection and response (XDR) platform that’s backed by a 24/7 managed detection and response (MDR) service.
In the past year, the company says it has experienced a 200 percent expansion in active partner base.
As for its partner program, its tiered benefits include various rebates, reward programs, and sales, marketing and technical support, among the features offered by the company.
“Our global partner program offers an exceptional opportunity for our partner community to increase their profit margins,” Bruno Darmon, president of Cynet, said in a press release.
“We make cybersecurity sales easy and at a much lower cost because we offer an automated, ‘all-in-one’ platform that doesn’t require a stack of several security vendors. … As a channel-only organization, our priority is ensuring our partners are rewarded during each step of the sales cycle.”