e92plus has unveiled a new incubator arm designed to give start-up cybersecurity vendors “the focus they require”.
Launched on the eve of this year’s Infosecurity Europe, ‘e92spark’ counts Scalefusion and Concentric AI as its maiden vendors.
Talking to IT Channel Oxygen, e92plus CEO Mukesh Gupta said the move reflects the security VAD’s rising exposure among mature vendors.
“As the business has grown, we’re now dealing with larger vendors and spend a lot of time driving their business forward,” he said.
“We needed to make a clear distinction and put a clear focus on recruiting and working with upcoming and Series A vendors, where they don’t have the runrate revenues as of today, but we can see the potential.
“We get approached by a lot of new vendors, and we needed a platform to ensure we’re giving them the focus they require.”
Turning over £65.6m in calendar 2023, e92plus counts big-name brands Forcepoint, Trend Micro, CloudFlare and Tanium among its 31 vendor allies. It ranked 24th in IT Channel Oxygen’s most recent Must-Know UK IT Distributors.
But recent research from analyst Canalys estimated that there are around 6,500 cybersecurity vendors globally – with the top five covering just 34% of sales.
Pune-based unified endpoint management specialist Scalefusion announced its expansion into the UK&I in April. It claims it enables IT teams to provision, monitor, and secure devices – including smartphones, tablets, laptops, desktops and rugged devices – from a single, centralised dashboard.
California-based Concentric AI, which bills itself as a specialist in autonomous data security posture management, recently scored $45m in Series B funding, meanwhile.
“By making a new division, we can put resources behind it and not take away resources from our existing vendors,” Gupta said.
Doug Woodburn is editor of IT Channel Oxygen
