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Buyers Pour $200 Million Into Compliance Automation Startup Drata

By Ryan Naraine on December 07, 2022

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Excessive-flying safety compliance and automation startup Drata continues to draw main enterprise capital investor curiosity, banking $200 million in Sequence C funding that values the corporate north of $2 billion.

The $200 million money infusion comes lower than two years after the San Diego, Calif-based firm emerged from stealth with formidable plans to design and construct a platform that provides companies a quick approach to obtain and keep SOC 2 and ISO 27001 steady compliance.

Drata has now secured a whopping $228 million and mentioned the brand new spherical doubles its so-called unicorn valuation in a one-year span.  Final November, Drata banked $100 million at a heady billion-dollar valuation after exhibiting spectacular buyer development.

The Sequence C was led by present traders ICONIQ Progress and GGV Capital with participation from Alkeon Capital, Cowboy Ventures, Salesforce Ventures, SentinelOne’s S Ventures, FOG Ventures, and Silicon Valley CISO Buyers (SVCI).

[ One 12 months in the past: Drata Scores $100M for Compliance Automation Tech ]

The corporate additionally named Microsoft chief govt Satya Nadella and Snowflake’s Frank Slootman amongst a handful of strategic traders.

Drata mentioned it is going to use the cash to beef up analysis and improvement (R&D) and add instruments and options for startups and auditors to automate obligatory compliance processes.

In a be aware saying the brand new funding, Drata chief govt Adam Markowitz mentioned the corporate has launched greater than 14 frameworks — from PCI DSS to GDPR and NIST 800-153 — over the past 12 months and expanded the product with a number of language translations.

“We based Drata in the course of the pandemic and we instantly began seeing elevated demand for our product. In lower than 100 days, phrase was spreading, and we had 100 prospects automating SOC 2 compliance with us,” Markowitz added.

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