PlexTrac Raises Seed Round From StagedotO
Boise, ID – PlexTrac, Inc. (“PlexTrac”) and StagedotO announced today that StagedotO will provide a seed investment to PlexTrac, a next-generation reporting, analytics, and collaboration platform for cybersecurity professionals. The seed investment will enable PlexTrac to accelerate growth and expand product capabilities to better meet the needs of clients.
PlexTrac catalyzes cohesion between consultants, security teams, and executives. PlexTrac slashes time spent generating reports, remediating vulnerabilities, and informing executives. In an era when data security and privacy have never been more important, PlexTrac delivers the tools needed for organizations to protect themselves effectively and efficiently.
“PlexTrac empowers red and blue teams to work smarter, collaborate more effectively, and provide executives with the right data to make wise investments in security,” said Dan DeCloss, Founder and CEO of PlexTrac. “The funding by StagedotO will enable PlexTrac to invest in development of additional capabilities that will position PlexTrac to expand its footprint in cybersecurity teams. We are very excited to partner with StagedotO to work to deliver more value to more organizations.”
The cybersecurity industry is growing rapidly, especially in the area of security orchestration, automation, and response (SOAR). Some reports estimate the SOAR market will have more than doubled from $826 million in 2016 to $1,682 million in 2021.
“We look forward to working with Dan and the PlexTrac team to achieve their mission to create a streamlined, efficient platform for customers to handle the increasingly complicated cyber security ecosystem,” said Mike Self, General Partner of StageDotO Ventures. “The team’s deep domain expertise, commercialization with Fortune 500 clients, and the desire to build a world class organization in the Treasure Valley is a great fit for the StageDotO Boise Fund.”
“It’s exciting to see this type of deal take place in Boise,” said Alison Johnson, Partner at Holland & Hart LLP and Outside General Counsel for PlexTrac. “This ushers in a new era of startup investment in the Treasure Valley. I am thrilled for PlexTrac and StagedotO, and for Holland & Hart to be a part of their journey.”
About PlexTrac
PlexTrac is a software platform that provides rapid reporting for red teams and tracking & attestation for blue teams. For red teams, PlexTrac alleviates the most painful parts of reporting so testers can focus on the important tasks of testing. With PlexTrac, reports automatically include standard write-ups, formatted screenshots, and custom branding. For blue teams, PlexTrac provides vulnerability management teams a complete solution to continually assess and improve security posture. Robust analytics with PDF export make PlexTrac perfect for reporting and attestation.
About StagedotO
StagedotO is an early stage investment fund that identifies pre-Series A companies with energetic entrepreneurs driven by world-changing ideas. StagedotO aims to add eight to ten such companies to its portfolio every two years. StagedotO is founded by a partnership team led by a proven entrepreneur of 5 successful startups and small-cap hedge fund manager that generated top-quartile returns over more than 10 years. StagedotO leverages their expertise to help entrepreneurs build successful companies by actively lending 40+ years of startup and investing experience to day-to-day operations.
