The Herjavec Group
The Herjavec Group (operating as Cyderes) is a private, Apax Partners-backed managed security service provider delivering managed detection and response, identity and access management, and exposure management to enterprise clients across North America, the UK, and India.
- Company typePrivate
- Founded2003
- HeadquartersToronto, Canada
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
What The Herjavec Group does
The Herjavec Group, founded in 2003 and headquartered in Toronto, Canada, is a managed security service provider (MSSP) backed by private equity firm Apax Partners and operating under the Cyderes brand. It serves enterprise clients across North America, the United Kingdom, and India, deploying 800+ dedicated security professionals, 250+ security engineers, 100+ unique cyber certifications, and five global 24/7 security operations centers. Named reference customers span healthcare (Sunnybrook, Renown Health), financial services (MOGO), and mining (Newmont Goldcorp), and the company sells advisory, fully managed, and co-managed engagement models directly to enterprise security buyers.
The company's core technology is Meridian, a proprietary entity fabric that connects identities, assets, access relationships, and exposures across customer environments into a single environmental context. This context feeds three service lines: Identity and Access Management (IGA, PAM, ITDR), Managed Detection and Response, and Exposure Management. Agentic AI is positioned on top of Meridian so that detection, response, and prioritization decisions reflect the full risk surface rather than fragmented tool signals.
The business model is anchored on recurring managed security subscriptions supplemented by advisory and professional services, with distribution through direct enterprise field sales and technology partner channels including Microsoft, Google Cloud, SailPoint, CyberArk, Splunk, and CrowdStrike. Herjavec Group has pursued an active roll-up strategy, completing at least six acquisitions since 2014 with a cluster in 2021 (Segmentech for IAM/PAM depth and Fishtech Labs for SOC scale) that coincided with Apax's investment and the operational transition to the Cyderes brand.
The Herjavec Group firmographics
Firmographics- Name
- The Herjavec Group
- Legal name
- The Herjavec Group
- Website
- https://herjavecgroup.com
- Company type
- Private
- Founded year
- 2003
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- The Herjavec Group (operating as Cyderes) is a private, Apax Partners-backed managed security service provider delivering managed detection and response, identity and access management, and exposure management to enterprise clients across North America, the UK, and India.
- Ownership category
- akta.pro rank
The Herjavec Group industry classification
Industry- Product category
- Managed Cybersecurity Services
- NAICS
- Computer Systems Design and Related Services (54151), Security Systems Services (56162), Computer Systems Design Services (541512)
- SIC
- Services-Computer Integrated Systems Design (7373), Services-Management Services (8741)
- akta.pro primary industry
- Identity & Access Security Services (IAM, PAM, Zero Trust) (BPAKAHAI)
- akta.pro secondary industries
- Privileged Access Management (PAM) (HDADAAAC), Identity Threat Detection & Response (ITDR) (HDAEAJAH), Endpoint Security Managed Services (EDR/XDR) (BPAEADAH), IT Operations, Event & Incident Management (NOC/SOC-to-ITSM) (BPAEAJAH)
Keywords
Where The Herjavec Group is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
The Herjavec Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales
Revenue model
- Managed Security Services: Recurring managed security services revenue model providing continuous monitoring, detection, response, and identity/access management services to enterprise clients on subscription basis.
- Professional Security Services: Advisory guidance and consulting services for security programs, potentially including implementation and co-managed partnership arrangements.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels5 records
The Herjavec Group product offering
Product offeringCore offering
The Herjavec Group (operating as Cyderes) is a managed security service provider that sells subscription-based 24/7 cybersecurity services to enterprise customers. Its three core offerings are Identity & Access Management (IGA, PAM, ITDR), Managed Detection & Response (continuous monitoring, threat detection, incident response), and Exposure Management (attack surface discovery, vulnerability prioritization, remediation guidance), all delivered through five global security operations centers and powered by its proprietary Meridian entity fabric and Agentic AI.
Product overview
The Herjavec Group is a managed security service provider backed by private equity firm Apax Partners. The company provides cybersecurity services with particular expertise in Identity and Access Management (IAM) and Privileged Access Management (PAM). In October 2021, Herjavec Group acquired Toronto-based Segmentech, a partner of CyberArk, to enhance its cybersecurity capabilities in IAM and PAM. The company operates across multiple countries including the United States, United Kingdom, India, and Canada.
Differentiator
Problem solved
Functional benefit
Products and services
- Identity & Access Management (IAM) Managed service securing identity systems and access pathways that attackers use to move through customer environments. Includes Identity Governance and Access (IGA), Privileged Access Management (PAM), and Identity Threat Detection and Response (ITDR). Delivered to enterprise customers seeking outsourced identity security operations.
- Managed Detection & Response (MDR) 24/7 managed detection, investigation, and incident response service that detects, investigates, and contains threats using full environmental context from the Meridian platform. Provides continuous monitoring and threat detection and response for enterprise customers.
- Exposure Management Managed service that identifies and reduces exposures across identities, assets, and attack paths before attackers exploit them. Includes attack surface discovery, vulnerability and risk prioritization, and exposure validation with remediation guidance. Targets enterprise security programs needing proactive exposure reduction.
- Meridian Proprietary entity-fabric platform that connects identities, assets, access relationships, and exposures across customer environments to create a shared understanding of how risk actually exists. The context is fused into MDR and Agentic AI for risk-aware decision-making. Sold as part of the managed security services stack for enterprise customers.
Companies that use The Herjavec Group
Customer profileNamed customers4 records
Segments1 record
Ideal customer profiles3 records
The Herjavec Group technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
The Herjavec Group partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered flagship, core and strategic acquisition.
- MicrosoftflagshipTechnology partnership with Microsoft for integrated security solutions. Partner logo displayed on Cyderes website indicating co-marketing and integration relationship.
- Google CloudcoreCloud platform partnership with Google Cloud for security services delivery. Partner logo displayed on website.
- SailPointcoreIdentity governance partnership with SailPoint. Dedicated partner page on Cyderes website indicates deep integration and co-selling relationship.
- CyberArkcorePrivileged Access Management partnership with CyberArk. Partner logo displayed on website. Segmentech, acquired by Herjavec Group, was noted as a CyberArk partner.
- SplunkcoreSecurity analytics and SIEM partnership with Splunk for data analysis and threat detection capabilities. Partner logo displayed.
- CrowdStrikecoreEndpoint protection partnership with CrowdStrike for threat detection and response capabilities. Partner logo displayed.
- Segmentechstrategic acquisitionToronto-based partner of CyberArk acquired by Herjavec Group in October 2021 to enhance cybersecurity capabilities in Identity and Access Management (IAM) and Privileged Access Management (PAM).
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
The Herjavec Group competitors and assessment
Company assessmentEmerging players
- Expel: Expel is a cloud-native MDR provider offering transparent, 24/7 managed detection and response with a SaaS-style delivery model. Comparable as an MDR-focused competitor with a tech-forward, partner-integrated approach.
Broad incumbents
- Palo Alto Networks Unit 42: Unit 42 is Palo Alto Networks' managed detection and response and incident response service, competing across enterprise MDR. Comparable as an incumbent vendor-backed managed security service with platform leverage.
- IBM Security Services: IBM Security Services is a global MSSP within IBM offering managed detection and response, identity, and security operations at massive scale. Comparable as a broader incumbent in MSSP/MDR with overlapping identity and SOC services.
- Accenture Security: Accenture Security is the managed security and cyber defense arm of Accenture, offering MSSP services globally. Comparable as a large incumbent MSSP competing for enterprise managed security engagements.
Direct peers
- Secureworks: Secureworks is a global MSSP and MDR provider offering managed security services, threat intelligence, and detection/response across enterprise customers. Closely comparable in MSSP business model and enterprise customer focus.
- eSentire: eSentire is a Canadian-based MDR/MSSP with a similar enterprise-focused managed detection and response model. Closely comparable in geography (Canadian HQ), customer base, and 24/7 SOC-led delivery.
- Optiv Security: Optiv is a large security solutions integrator and MSSP offering managed security, advisory, and integration services. Comparable as a large-scale North American MSSP targeting enterprise security programs.
- Trustwave: Trustwave is a global MSSP offering managed detection and response, database security, and advisory services to enterprise clients. Highly comparable MSSP/MDR business model with global SOC footprint.
- Arctic Wolf Networks: Arctic Wolf is a leading pure-play MDR/MSSP offering 24/7 monitoring, managed detection and response, and security operations platform. Highly comparable to Cyderes in target customer (mid-market to enterprise), delivery model (SOC-based MDR), and recurring revenue motion.
- ReliaQuest: ReliaQuest provides enterprise MDR and security operations platform (GreyMatter) with integrated threat detection, investigation, and response. Comparable in enterprise target market, SOC-led delivery, and proprietary platform approach analogous to Meridian.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
The Herjavec Group social profiles
Digital presenceThe Herjavec Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
The Herjavec Group leadership team
Management profileNumber of profiles
Profiles5 records
The Herjavec Group subsidiaries and ownership
Company hierarchySubsidiaries1 record
The Herjavec Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
The Herjavec Group M&A and investment
M&A and investmentM&A6 records
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about The Herjavec Group
What does The Herjavec Group do?
The Herjavec Group (operating as Cyderes) is a managed security service provider that sells subscription-based 24/7 cybersecurity services to enterprise customers. Its three core offerings are Identity & Access Management (IGA, PAM, ITDR), Managed Detection & Response (continuous monitoring, threat detection, incident response), and Exposure Management (attack surface discovery, vulnerability prioritization, remediation guidance), all delivered through five global security operations centers and powered by its proprietary Meridian entity fabric and Agentic AI.
Is The Herjavec Group a public or private company?
The Herjavec Group is a private company. It is classified as private equity controlled and is currently operating.
When was The Herjavec Group founded?
The Herjavec Group was founded in 2003. It employs 501 to 1,000 people.
Where is The Herjavec Group based?
The Herjavec Group is headquartered in Toronto, Canada, in the North America region.
How does The Herjavec Group make money?
Two revenue lines are on record. Managed Security Services are the primary driver. The others are professional Security Services.
Who are The Herjavec Group's main competitors?
Expel is listed as an emerging player. Broad incumbents are Palo Alto Networks Unit 42, IBM Security Services and Accenture Security. Direct peers are Secureworks, eSentire, Optiv Security, Trustwave, Arctic Wolf Networks and ReliaQuest.
Does The Herjavec Group have an API?
No public API is recorded for The Herjavec Group.
What industry is The Herjavec Group in?
The Herjavec Group's product category is Managed Cybersecurity Services. Its primary akta.pro industry code is BPAKAHAI, Identity & Access Security Services (IAM, PAM, Zero Trust), with a secondary code of HDADAAAC, Privileged Access Management (PAM). Its NAICS code is 54151 and its SIC code is 7373.