PlexTrac, an Idaho based cybersecurity startup, announced on 14th April 2021 that it has raised US $ 10 million in its Series A funding round. The round was led by Noro-Moseley Partners and Madrona Venture Group along with participation from StageDotO.
Investors: Noro-Moseley Partners or NMP, in short, is an Atlanta (United States) based venture capital firm that was founded in the year 1983 by Charlie Moseley. It is an early-stage technology and healthcare investor. It mainly invests in high-growth companies, with solid business models, located in the southeastern part of the United States. Over the years it has made more than 160 investments and its portfolio includes companies such as Elligo, MacStadium, Voxie, UpwardHealth and more.
Madrona Venture Group is similarly a United States based venture capital firm that invests in early-stage technology companies. It was founded in 1995 by Ben Gilbert, Paul Goodrich and Tom Alberg with its headquarters in Seattle, Washington. Its portfolio includes companies such as Amperity, Clari, Booster, Fauna and more.
The latest round brings the total funds raised by PlexTrac to around US $ 11 million. Further, PlexTrac plans on utilising the current round of funds to build its team and develop its platform.
About PlexTrac:
PlexTrac was founded in the year 2016 by Dan DeCloss. It enables security teams to collaborate and grow their assessment capabilities by automating report generation. It functions as a central communication hub that enables aggregation of all the components of an organisation’s cybersecurity program.
Dan Decloss, the founder, brings 15+ years of experience in cybersecurity to the startup. He has worked for multiple organisations with many lead roles before coming up with PlexTrac. Essentially he believes in uniting the offence focused red teams and the defence focused blue teams towards the common goal of protecting the network and the data assets.
What the CEO has to say:
“Security professionals in all types of organizations are faced with unprecedented threats, but how they work has not substantially changed. PlexTrac brings red and blue cybersecurity teams together in one workflow to build transparency and efficiency at remediating vulnerabilities and defending against increasingly sophisticated adversaries. The growing traction we are seeing with Fortune 500 companies speaks to how PlexTrac resonates with security professionals as they focus on a proactive assessment mindset. We are excited to work with our new partners at Noro-Moseley and Madrona on our growth trajectory.” —Dan DeCloss, founder and CEO of PlexTrac.
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