Trace3 CISO Says 2023 Security Sales On Track To Hit $1B
‘We started out as a small player in the security business to a major contender,’ says Bryan Kissinger, SVP of security solutions and CISO at Trace3. ‘Now we compete with PwC, Deloitte, Accenture and other large security consulting firms. We are competing against them, we’re winning against them and I think you’re only going to see us become bigger and more competitive.’
Solution provider Trace3 is in “hyper growth” mode, grabbing market share and continuing to expand its geographical footprint. In fact, the company expects to see $1 billion in security revenue by the end of this year.
“We’ll probably be a $2.5 billion dollar company this year overall,” Bryan Kissinger, SVP of security solutions and CISO at Irvine, Calif.-based Trace3, told CRN.
Last year, Trace3, No. 36 on CRN’s 2022 Solutions Provider 500 list, generated $530 million in security revenue, he said. In the last three years, security revenue has grown more than 50 percent year over year.
“We started out as a small player in the security business to a major contender,” he said. “Now we compete with PwC, Deloitte, Accenture and other large security consulting firms. We are competing against them, we’re winning against them and I think you’re only going to see us become bigger and more competitive.”
He believes Trace3 stands out from the competition in many ways, including its “elite” engineering talent and link to innovation and emerging technology.
“Those firms I don’t really feel like are as connected to the venture capital world as we are,” he said. “We’re sort of famous for bringing new and interesting emerging technology to market. What we always tell our customers is give us a complex hard problem that you’re trying to solve with technology and let us figure it out for you. I think that’s a real differentiator for us.
“We want the hard problems that are unsolved,” he added. “Let us use innovation, emerging technology and our elite engineering talent to solve it for you.”
In April, Trace3 acquired Houston-based Set Solutions, which will allow the combined company to deepen cybersecurity capabilities in turn driving greater success for commercial and enterprise clients.
“We’re looking to do one to two acquisitions a year, and I would expect one of those to be a security company and another one maybe to be a data or a cloud company,” Kissinger said.
CRN spoke exclusively with Kissinger about the hyper growth in their security business, challenges they face and what’s to come for Trace3.