PlexTrac Raises $70M: What MSSPs Need to Know

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PlexTrac, a purple teaming platform provider for MSSPs and security teams, has raised $70 million in a Series B funding round.

The Series B funding supports PlexTrac’s mission to provide MSSPs and security teams with a solution to track and improve their posture across the security lifecycle, according to a prepared statement. It will allow PlexTrac to extend its market reach, drive brand awareness, double its employee headcount and accelerate its product roadmap.

Furthermore, the funding will help PlexTrac scale quickly to meet growing demand for its platform, CEO Dan DeCloss said. It also will enable PlexTrac to maintain the quality of its platform and customer support.

PlexTrac Introduces MSSP Partner Program

The Series B funding comes after PlexTrac launched an MSSP partner program in September 2021. MSSPs can join the program to leverage PlexTrac’s platform to manage the workflow of reporting and collaboration with their teams and customers and perform penetration testing and vulnerability assessments, the company noted.

In addition, PlexTrac hired Jason Kramek as its MSSP sales manager in September 2021. Kramek joined PlexTrac from AT&T Cybersecurity (formerly AlienVault), where he served as the company’s senior MSSP and channel account executive for acquisition and enablement and helped build its MSSP partner program.

PlexTrac specializes in “proactive security management,” the company indicated. It offers a platform for purple teaming, i.e. information sharing among blue and red teams.

Organizations can use PlexTrac’s platform to analyze risks and manage security workflows, the company noted. That way, they can identify and mitigate vulnerabilities before they escalate.

PlexTrac previously secured $10 million in a Series A funding round in April 2021. The company also reported 3X recurring revenue growth and quadrupled its headcount in 2021.

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