ConnectWise has announced the release of its 2022 ConnectWise MSP Threat Report. In its third year, the report includes analysis of major MSP-related security events and trends from 2021 and top predictions for 2022, including a continued rise in MSP-focused ransomware attacks and increased cooperation among governments to combat cybercrime.

In addition to predictions of increasing ransomware attacks and more cybersecurity legislation, the following are key findings from the 2022 ConnectWise MSP Threat Report:

The market will see an evolution of a "super-MSP" — MSPs that have joined together, through mergers and acquisitions, as a result of private equity with deep financial pockets that have entered the channel. Cybersecurity has always been a focus for MSPs, but it will be more critical than ever moving forward.

The SMB market is predicted to spend more in 2022 with a need to make significant investments in cyber detection, response and automation. As a result of growing success by law enforcement to track and shut down malicious actors in 2021, multiple threat actor groups changed their tactics to stay under the radar. ConnectWise predicts that ransomware operators will continue to shift focus on mid-tier organizations that are capable of decent-sized payout, but will not get as much public attention when compromised.

The ConnectWise Cyber Research Unit (CRU) — a dedicated team of threat hunters and researchers that identifies new vulnerabilities in the MSP industry — collected data regarding 500 cybersecurity incidents from MSP partners and their clients. Of those 500 incidents, 40% were related to ransomware. The report also revealed that there was a 10% to 15% increase in ransomware incidents by quarter, with 56% of all incidents occurring in the second half of 2021.

For a comprehensive view of findings, download the full report here: https://www.connectwise.com/resources/ebook-2022-msp-threat-report

The 2021 report released by Perch Security, which was acquired by ConnectWise in 2020, accurately predicted that ransomware attacks would continue to become even more MSP-focused. MSPs are a far more lucrative target than individual businesses due to the potential to ransom multiple companies at once, therefore ConnectWise predicts that this will be an ongoing issue for 2022.

In an effort to drive down cybersecurity complexity, ConnectWise continues to build on its portfolio of advanced cybersecurity solutions that help detect and mitigate the increasing attacks that MSPs are experiencing. This includes solutions in the areas of SIEM, endpoint detection and response (EDR), SOC and risk assessments.

"With the current political climate and skyrocketing reports of global security incidents, Congress is facing pressure to do more to crack down on cybercriminal activity," said Raffael Marty, general manager for cybersecurity, ConnectWise. "However, that won't happen overnight. This report, put out by our Cybersecurity Research Unit, serves as a powerful tool to help MSPs understand and identify vulnerabilities and guide them to make security investments that will rapidly detect and resolve potential threats to protect their businesses and their clients."

In addition, the 2022 report provides a detailed timeline of major security incidents that occurred over the past year. Observations made from that timeline show that MSPs are increasingly being targeted and identifies the top five ransomware groups that the CRU observed targeting MSPs and their clients.

On April 13, 2022, ConnectWise will host a webinar to discuss the report, predictions and survey results in more detail. To register, visit www.connectwise.com/webinars/2022-msp-threat-report.

In other news, ConnectWise has announced that its PitchIT Accelerator Program is currently accepting applications. Created by ConnectWise in 2018, PitchIT is a competition specifically for innovators to showcase a potential offering that could be built or integrated into the ConnectWise platform. The company is offering small companies and individuals the chance to take part in a 16-week program where participants receive a thorough business assessment, gain coaching from industry experts, earn placement on the ConnectWise marketplace, engage in co-marketing and more. Ten applicants will be accepted into the program.

From the pool of contestants, ConnectWise will choose three finalists to present their solutions on the center stage at IT Nation Connect on Nov. 9-11, 2022. Judges will then announce the first- and second-place winners at the event. The first-place winner will receive $70,000 in investment money and the second-place winner will receive $30,000.

ConnectWise is excited to promote solutions that solve a need in cybersecurity, finance, billing, data, marketing, sales, business process, productivity, automation or another practice area.

Throughout the competition, thought leaders within the MSP space will act as "Cameo Coaches" to guide participants and provide insight on their projects. The judges will be evaluating each solution based on product innovation, value proposition, GTM strategy, contribution to the industry and likelihood of success in order to choose the three finalists. With a digital and cloud transformation unfolding before our eyes, ConnectWise is excited for the PitchIT Accelerator Program to showcase the immense amount of talent the IT Nation Community has to offer.

Last year's winner was Traceless.io, makers of a security tool for MSP teams, businesses and individuals.

"We are thrilled and honored to be the winners of PitchIT 2021," said Gene Reich, co-founder, Traceless.io. "It has been a great journey with ConnectWise and we look forward to more continued success as partners. Our commitment to the MSP industry has always been very simple — we are here to help MSPs protect their houses. The PitchIT investment will accelerate this commitment by allowing us to add deeper identity verification features, customer change management approvals and a suite of AI-driven advanced threat protection features for ConnectWise Manage."

"The PitchIT Accelerator Program is the perfect chance for innovative individuals in the IT Nation community to showcase their groundbreaking solutions," said Craig Fulton, chief customer officer, ConnectWise. "We are excited to learn from our PitchIT contestants and we look forward to sharing our finalists' ideas with everyone this coming November."

Those interested in participating in the PitchIT Accelerator Program can apply here. Applications close April 30, 2022.