Supporting organizations using a purple teaming paradigm, PlexTrac serves as the central communication hub to aggregate all of the components of an organization’s cybersecurity program.
About Insight Partners Insight Partners (www.insightpartners.com) is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success.
Above: Imply’s web dashboard.
“The pandemic has accelerated the rate of digital transformation in our customers, and analytics is at the forefront of their initiatives,” Yang said. “[Our over 100 customers, including Plaid and Cisco ThousandEyes,] leverage analytics-in-motion as the analytics engine behind applications centered around security, operational, and business insights, and as a complete solution to solve internal business intelligence and operational analytics use cases such as operational analytics, security analytics, advertising analytics, behavioral analytics, and more.”
Imply, which has around 132 employees, isn’t disclosing annual recurring revenue just yet. But the market opportunity for big data analytics is large and growing, as evidenced by the funding rounds closed by competitors like Firebolt, Leadspace, Dremio, and Noogata.
70m series venture partners
The company’s Series B funding continues the momentum of rapid growth PlexTrac saw in 2021, including quadrupling headcount, completing a $10M Series A round in April and generating 3X recurring revenue growth. The new investment will be used to accelerate this trajectory by expanding market reach and increasing brand awareness, while doubling headcount and propelling the product roadmap forward.
“It has never been more crucial to be proactive in defending against increasingly disruptive threats. PlexTrac empowers teams to stay focused on the right work, eliminating waste in daily workflows, prioritizing the most critical organizational risks, and providing visibility of security progress,” said Dan DeCloss, founder and CEO of PlexTrac.
70m series venture partnership
After Druid was open sourced, people began using it for everything from analyzing ad tech, network traffic, website usage, finance, and sensor data,” Yang told VentureBeat via email. “We’ve come a long way over the past few years in terms of both adoption and scale. Existing Druid clusters now scale to petabytes of raw data, trillions of events, and millions of daily queries.”
The Imply platform
Yang asserts that Imply is one of the few analytics solution providers with a true full-stack solution for “analytics-in-motion” use cases. Leveraging the power of Druid, the platform allows customers to create data analytics queries on the fly and receive answers immediately — or almost immediately.
Imply is built to scale with technologies including large data volumes and high search concurrency, Yang says, as well as low-latency infrastructure.
70m series venture partnerships
“Some people refer to real-time analytics as analytics based on real-time data, but they don’t mention that questions need to be predetermined; that the data is only historical data; that the solution doesn’t scale beyond a certain number of records; and that the solution is prohibitively expensive. They also don’t mention that they provide only an engine, not also a UI or app,” Yang explained. “This is a huge handcuff as you have to wait hours or days to iterate and get to the ‘a-ha moment.’ Moreover, you can’t know what’s happening now or compare what’s happening now to the past, or account for data volumes that grow exponentially every year.”
To illustrate the ostensible benefits of Imply, Yang gave the example of Sift, a fraud detection startup using the platform for AI and machine learning workloads.
However, the exploding rate of data growth coupled with low query performance from traditional SQL engines means access to that data remains difficult — typically forcing complex data copying and movement into much more expensive data warehouses and cumbersome data marts. Dremio is addressing these challenges by helping data teams drastically decrease their cloud costs and increase their analytics performance at the same time.
“Dremio addresses the key challenges enterprises face with data moving to the cloud at rapidly increasing volumes,” said Teddie Wardi, managing director at Insight Partners. “The open architecture, high performance, and low cost are benefits that all resonate strongly with customers.
Olson, Delix provides a neuroscience company focused on harnessing the power of psychoplastogens—novel neuroplasticity-promoting therapeutics—to treat mental health disorders at scale. The company’s compounds are small molecules capable of rapidly inducing structural and functional neural changes in targeted areas of the brain. Its discovery engine has produced nearly 1,000 novel compounds to-date, with several potential clinical development candidates identified.
The company’s most advanced compounds, which have been profiled in Nature and Cell, are non-hallucinogenic analogs of clinically-validated first-generation psychedelics like psilocybin, LSD, DMT, and MDMA.
PlexTrac Raises $70M Series B Funding Round to Fuel Growth in Proactive Cybersecurity Management
Boise, Idaho, February 2, 2022 — PlexTrac, the cybersecurity software company on a mission to empower teams to win the right cybersecurity battles, today announced that it has raised a $70 million Series B round, led by New York-based global venture capital and private equity firm Insight Partners, with participation from existing investors Madrona Venture Group, Noro-Moseley Partners and StageDotO Ventures.
With its cybersecurity platform, PlexTrac equips consultants, service providers and enterprise teams of all sizes with the solution they need to track and improve their posture across the security lifecycle.
PlexTrac to scale quickly to meet growing demand while maintaining the quality of the platform and the world class support our customers love.”
Customers report that they see PlexTrac “as a part of our strategy to move quicker and be proactive,” that the platform “has a 5x ROI in year 1” and that it gives their cybersecurity operations a “30 percent increase in efficiency.” From test execution and reporting to analytics and risk prioritization to remediation and attestation, PlexTrac’s end-to-end workflow automation provides a single source for gauging and evolving program maturity.
“As evidenced by their rapid growth and best-in-class customer satisfaction, it’s clear that PlexTrac is filling a critical need for streamlined reporting, data aggregation and program management in cybersecurity,” said Insight Partners Vice President Evan Hahn.
The accelerated migration of applications and workloads to the cloud has led to security gaps that are difficult to identify and remediate on a continuous basis. Ermetic provides a comprehensive platform that detects and prevents security threats within complex AWS, Google Cloud and Microsoft Azure environments. Since its last round of financing, the company has quadrupled in size to more than 100 employees, increased its number of customers by 800% and now protects millions of resources.
“Most organizations have to stitch together disparate security tools that are siloed and provide a limited view of cloud risk, but Ermetic has combined cloud infrastructure entitlement and cloud security posture management to provide the visibility and automation customers need to protect all their cloud platforms in one place,” said Shai Morag, CEO of Ermetic.
Ermetic, a leading cloud infrastructure security company, today announced it has closed a $70M Series B round of financing led by Qumra Capital with support from new investor Forgepoint Capital and participation from existing investors Accel, Glilot Capital Partners, Norwest Venture Partners and Target Global. The company has now raised $100M in funding for its security platform that provides holistic multi-cloud protection for global enterprise customers.
Ermetic will use the funds to scale sales and marketing operations in the US, Europe, the Middle East and Africa, and Asia Pacific, as well as grow its engineering team.
