BlackBerry Launches CylanceMDR, An Expert Driven and AI-Powered Managed Detection and Response Solution

Rhea-AI Summary

BlackBerry launched CylanceMDR, a Managed Detection & Response solution combining expert security analysts with AI technology, offering three packages for comprehensive cybersecurity protection. The solution includes hands-on onboarding, threat hunting, incident response, and a $1 million guarantee for eligible customers.

Positive

• BlackBerry's CylanceMDR combines expert security analysts with AI technology for comprehensive threat protection.

• The solution offers hands-on onboarding, threat hunting, incident response, and advisory services, backed by a $1 million guarantee.

• Independent testing shows Cylance AI detects threats up to 13 times faster, preventing 98% of attacks earlier in the kill chain.

• CylanceMDR is up to 85% less expensive than building an in-house SOC, with a reported return on investment of almost three times.

Negative

• While CylanceMDR offers comprehensive protection, the increasing popularity of MDR solutions may lead to more competition in the market.

• There could be challenges in convincing potential customers of the need for investing in an MDR solution, especially if they already have existing security measures in place.

Insights

Cybersecurity Analyst

BlackBerry's launch of CylanceMDR presents a strategic enhancement of their managed security services, showcasing a robust integration of human expertise with their acclaimed Cylance AI technology. The decision to underpin their offering with a $1 million guarantee shows confidence in their service and addresses a key client concern – the financial aftermath of security incidents. The cybersecurity landscape is increasingly complex and solutions like CylanceMDR that marry AI with human oversight provide a compelling value proposition, potentially improving BlackBerry's competitive edge. The inclusion of various service packages caters to diverse business needs and if the advertised rapid AI threat detection and cost savings are accurate, BlackBerry could see an uplift in their cybersecurity segment adoption.

Financial Analyst

BlackBerry's introduction of CylanceMDR, claiming 85% cost savings over in-house SOC development and substantiated by an independent Forrester study indicating a near triple ROI, could signal a positive financial outlook for investors. The managed security space is on a growth trajectory and a well-executed MDR offering stands to capture significant market share. If BlackBerry can effectively translate the operational efficiencies of their AI platform into tangible financial growth, there should be positive impacts on their bottom line. The guarantee also suggests a lower risk profile for both the company and its clients, potentially making BlackBerry a more attractive investment.

Tech Industry Expert

The expansion of CylanceMDR and the introduction of tiered service packages is a strategic move for BlackBerry, aligning with the industry trend of providing scalable cybersecurity solutions. The emphasis on AI-driven MDR, supplemented by a skilled SOC team, addresses the market's need for advanced threat detection capabilities. The company's claim of Cylance AI outperforming competitors in independent tests suggests that BlackBerry is not only integrating current technological capabilities but also positioning itself as an innovator in the AI security space. This advancement, if it resonates with customers and proves efficient, could reinforce BlackBerry's position within the tech industry and possibly lead to upward momentum in market share.

Combines award-winning security experts, and industry-leading AI for 24x7 threat protection, backed by a $1 million guarantee to cover security incident costs for eligible customers.

WATERLOO, ON, May 2, 2024 /PRNewswire/ -- BlackBerry Limited (NYSE: BB; TSX: BB) today introduced the new and expanded CylanceMDR™, offering comprehensive Managed Detection & Response (MDR) protection powered by the award-winning Cylance® AI platform and augmented with award-winning security operations center analysts for 24x7 threat coverage.

CylanceMDR (formerly CylanceGUARD®) now offers three new packages – Standard, Advanced, and On-Demand. Each package is designed to address the unique cybersecurity challenges businesses face today, from industry-leading AI detection to expert support, providing a comprehensive solution for all.  

"CylanceMDR offers more than just industry-leading technology; you're getting a true AI-driven MDR fueled by proprietary threat intelligence. But we know it's not enough to have the right technology. The key is having the right team to back you up," said Nathan Jenniges, SVP and General Manager at BlackBerry Cybersecurity. "Our philosophy is to combine our technical excellence with our human expertise to provide unparalleled support to organizations of any size. By partnering with our award-winning SOC team, you're essentially augmenting your team with ours, capable of managing the full spectrum of cybersecurity challenges."

CylanceMDR includes hands-on onboarding, alert triage, investigation, managed threat hunting, digital forensics, comprehensive incident response, and critical event management. It's also supported by advisory and tuning services and is backed by a $1M guarantee.

CylanceMDR also offers an "On-Demand" solution tailored exclusively for customers with established security teams seeking in-depth investigation and response to threats. This unique service offers direct assistance, threat triage, and thorough investigation and response capabilities. It serves as a valuable addition to customers' existing security frameworks, empowering them to tackle emerging threats and navigate complex security incidents with confidence.  

The Cylance AI platform powers all three packages. In independent testing, Cylance AI threat detection acted up to 13 times faster, preventing 98 percent of attacks earlier in the kill chain. The net impact of more effective protection and less strain on IT resources makes deploying CylanceMDR up to 85 percent less expensive than building an in-house SOC. In a recent Forrester Total Economic Impact Study, CylanceMDR reported a return on investment of almost three times.

"Given the spiraling cost of a data breach and a growing skills deficit, MDR solutions are gaining popularity as a comprehensive cybersecurity solution for today's enterprise," said Craig Robinson, Research Vice President, Security Services at IDC. "The right combination of knowledge and expertise with technology can effectively address the pressing time, resource, and cost constraints that heavily impact the effectiveness of any defensive strategy."

"We are extremely confident that we are applying all the right measures to protect our customers," said Jenniges. "To give them the ultimate peace of mind, we also provide a guarantee of up to $1 million to cover security incident costs for eligible CylanceMDR Advanced customers."

For more information about CylanceMDR, please visit www.blackberry.com/cylance-mdr.

About BlackBerry

BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world. The company's software powers over 235M vehicles. Based in Waterloo, Ontario, the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety, and data privacy solutions, and is a leader in the areas of endpoint management, endpoint security, encryption, and embedded systems. BlackBerry's vision is clear - to secure a connected future you can trust.

For more information, visit BlackBerry.com and follow @BlackBerry.

Trademarks, including but not limited to BLACKBERRY and EMBLEM Design, are the trademarks or registered trademarks of BlackBerry Limited, and the exclusive rights to such trademarks are expressly reserved. All other trademarks are the property of their respective owners. BlackBerry is not responsible for any third-party products or services.

Media Contacts: 
BlackBerry Media Relations
+1 (519) 597-7273
mediarelations@BlackBerry.com

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SOURCE BlackBerry Limited

FAQ

What is BlackBerry's new Managed Detection & Response solution called?

BlackBerry's new Managed Detection & Response solution is called CylanceMDR.

What guarantee does CylanceMDR offer for eligible customers?

CylanceMDR offers a $1 million guarantee to cover security incident costs for eligible customers.

What packages does CylanceMDR offer?

CylanceMDR offers three packages: Standard, Advanced, and On-Demand.

What benefits does CylanceMDR provide to customers with established security teams?

CylanceMDR provides an 'On-Demand' solution tailored for customers with established security teams, offering in-depth investigation and response capabilities.

How does CylanceMDR differentiate itself from other cybersecurity solutions?

CylanceMDR combines expert security analysts with AI technology, providing comprehensive threat protection and support services.