Services & Channel

Security reaches most of the world through somebody else: an MSSP, an MDR provider, a reseller, a distributor, a managed service provider, a consultancy. This section covers the service economy and the distribution layer — their operating economics, their consolidation, and the pressure automation is putting on labour-based delivery models.

13 pages in this section.

Service Providers

Cybersecurity services are highly fragmented, recurring-revenue, people-plus-platform businesses, typically acquired at EBITDA multiples well below product-vendor ARR multiples.

Channel & Distribution

~92% of cybersecurity spend flows through the channel rather than direct from the vendor.

Go-to-Market & Channels

Go-to-market quality — the mix of sales motions and the partner ecosystem behind them — shapes CAC, NRR, scalability, and valuation as much as the product does.

Updated 2026-09-08 20:44 UTC · © El Dorado Capital · el-doradocapital.com · Market intelligence for informational purposes only; not investment advice.