PlexTrac closes $10m round to further develop its cybersecurity platform

Cybersecurity software startup PlexTrac raised a $10m Series A round led by Madrona Venture Group and Noro Moseley Partners, with participation from StageDotO.

Along with the latest round, the firm’s total funding comes to $11m to date.

The funding will help the firm to keep every cybersecurity team focused on growing their assessment capabilities, automating their reporting process and collaborating more effectively.

With the aim to streamline reporting and collaboration, PlexTrac helps companies both with defending and eliminating threats as well as their penetration testing or simulated cybersecurity attacks.

Led by founder and CEO Dan DeCloss, who previously worked with the Department of Defense and held security roles at Scentsy, Anthem, Mayo Clinic and Veracode, the firm is now actively hiring and boosting all its teams.

DeCloss said, “Security professionals in all types of organisations 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.”

Echoing a similar sentiment, Noro Moseley partner John Ale added, “Never before have security professionals seen the level of pressure they are now facing to protect their assets — and communicate with teams across the organization and outside of it. Dan brings personal experience and a clear vision to this challenge.”

Commenting on the importance of cybercrime detection, Madrona Venture Group managing director S. Somasegar said, “PlexTrac’s holistic approach to security and penetration testing reflects a fresh approach to this growing discipline in enterprise IT.

By uniting red and blue teams on one platform, and developing deep integrations with existing infrastructure and tools, PlexTrac is bringing a software-enabled workflow to IT pros and security engineers who are looking for ways to work smarter and faster.”

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