Cipher (a Prosegur Company)

Cipher is a managed security services and managed detection and response (MDR) provider operating as a division of Prosegur, the large, publicly traded Spanish security services conglomerate best known for physical guarding and cash logistics. Cipher’s core offering, xMDR, launched globally in April 2023 and is built on a vendor-neutral model: rather than requiring customers to rip out existing tools, it layers 24/7 SOC monitoring, threat hunting, and alert triage on top of whatever endpoint, email, and SIEM/SOAR technology a customer already runs, with Microsoft Azure Sentinel as a common backing platform. Its service catalog extends beyond MDR into broader managed security services, GRC advisory, red team engagements, and cybersecurity technology integration.

The company has operated since 2000 and is headquartered in Miami, Florida, with roughly 300 employees. Its differentiator relative to independent MSSPs is financial and operational backing from Prosegur, a global, publicly listed parent with a much larger balance sheet and an existing “converged security” (physical plus cyber) positioning that pure-play cyber MSSPs lack. Recent moves, including a channel partnership with SIEM vendor Securonix to deliver AI-powered managed services, suggest continued investment in expanding its detection stack.

Cipher’s core value proposition — outsourced, vendor-neutral 24/7 detection and response — addresses a persistent need for organizations that can’t staff a full internal SOC, but it competes in a mature, crowded MDR/MSSP market. No independent MDR evaluation (such as a MITRE ATT&CK-style assessment) or named breach-response case study was found; its main credibility signal is longevity and parent-company scale rather than published, independently verified performance data.