Purple Teaming Security Management Company PlexTrac Raises $70M


Boise, Idaho-based PlexTrac raised $70 million in a Series B funding round led by Insight Partners with participation from existing investors Madrona Venture Group, Noro-Moseley Partners and StageDotO Ventures.

Using a “purple team” paradigm, PlexTrac helps consultants, service providers, and enterprise teams track and improve their posture throughout the security lifecycle. PlexTrac automates much of the effort required for proactive security, such as report writing. It collects data from security tools, such as vulnerability scanners and breach and attack simulators, and automates the workflows needed for reporting.

“It has never been more critical to be proactive in defending against increasingly disruptive threats,” said Dan DeCloss, Founder and CEO of PlexTrac. “PlexTrac helps teams stay focused on the good work, eliminating waste in daily workflows, prioritizing the most critical organizational risks, and providing visibility into safety progress.”

The company says customers have reported “a 5x increase in return on investment in the first year” and a “30% increase in efficiency.” “PlexTrac’s end-to-end workflow automation provides a single source to assess and scale program maturity,” the company says. He does it continuously.

Founded in 2016 by DeCloss, PlexTrac raised $10 million in a Series A funding round in April 2021. In 2021, it generated 3x more recurring revenue and quadrupled its headcount. It has more than 160 customers, including eight in the Fortune 100. “The new investment will be used to accelerate this trajectory by expanding market reach and increasing brand awareness, while doubling headcount and advancing the sheet. product road,” the company says.

Related: Proactive security – does it exist?

Related: Growing Endpoint Threats Require a Proactive Mindset

Related: Attack simulation company SafeBreach doubles funding with $53.5 million Series D

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Kevin Townsend is a senior contributor to SecurityWeek. He wrote about high-tech issues long before Microsoft was born. For the past 15 years, he has specialized in information security; and has had several thousand articles published in dozens of different magazines – from the Times and the Financial Times to current and former IT magazines.

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