Drata doubles valuation to $2bn following $200m Series C
Security and compliance automation company Drata has secured a $200 million Series C funding round, doubling its valuation to $2 billion since November 2021.
Drata lands $200m Series C
The Series C round was co-led by ICONIQ Growth and GGV Capital and saw participation from Alkeon Capital, Salesforce Ventures, Cowboy Ventures, S Ventures (SentinelOne), Silicon Valley CISO Investments (SVCI) and FOG Ventures (Operators Guild).
A number of individuals also participated in the round, including Jeff Weiner (LinkedIn), Frank Slootman (Snowflake), Jennifer Tejada (PagerDuty), Amit Agarwal (Datadog), Olivier Pomel (Datadog), and Jonathan Rubinstein (Amazon), and Satya Nadella (Microsoft), who invested in Drata’s $100 million Series B round.
Drata co-founder and CEO Adam Markowitz says the company has made “significant progress” in under two years.
“This next phase of growth will only further accelerate those efforts, introduce a new wave of open compliance, and help us realise our vision of being the trust layer between our incredible customers and those they do business with,” Markowitz adds.
Drata allows companies to manage SOC 2, ISO 27001 and HIPAA compliance through automated control monitoring and evidence collection.
Following its Series B last year, which saw Drata reach unicorn status, the firm has expanded to include more than 14 compliance frameworks, standards, and regulations such as GDPR, NIST SP 800-53 and CCPA.
