What is Drata?
Drata operates as a comprehensive security and compliance automation platform. Its core function is to continuously monitor and gather evidence of a company's security controls, thereby simplifying the process of achieving and maintaining audit-readiness. By automating these critical workflows, Drata empowers organizations to enhance their security posture and navigate compliance requirements more efficiently. The company's technology addresses a critical need for businesses seeking to scale securely and meet stringent industry standards.
How much funding has Drata raised?
Drata has raised a total of $328.2M across 4 funding rounds:
Multiple Rounds
$128.2M
Series C
$200M
Angel/Seed (2021): $3.2M with participation from Cowboy Ventures, SV Angel, and Leaders Fund
Series A (2021): $25M led by Cowboy Ventures, Silicon Valley CISO Investors, Okta Ventures, SV Angel, GGV Capital, and Leaders Fund
Series B (2021): $100M supported by Alkeon Capital Management, ICONIQ Growth, and Salesforce Ventures
Series C (2022): $200M featuring GGV Capital and ICONIQ Growth
Key Investors in Drata
GGV Capital
GGV Capital is a global venture firm investing in seed-to-growth stage companies across Social/Internet, Enterprise Tech, and Smart Tech sectors. They focus on backing local founders worldwide and have a significant portfolio of technology innovators.
ICONIQ Growth
ICONIQ Growth partners with exceptional entrepreneurs to drive global impact, leveraging a unique investment platform and an ecosystem of founders and leaders to amplify portfolio company success from early growth to IPO.
Cowboy Ventures
Cowboy Ventures is an early-stage venture capital fund focused on investing in companies that leverage the internet and mobile technologies to create new markets or disrupt existing ones.
What's next for Drata?
The substantial enterprise-level funding and recent strategic investment indicate that Drata is poised for accelerated expansion. This capital infusion will likely fuel further product development, enhance its market reach, and potentially support strategic acquisitions. As the demand for automated compliance and security solutions continues to surge, Drata is well-positioned to capitalize on market opportunities, further solidifying its leadership in the GRC (Governance, Risk, and Compliance) technology space. The company's focus on continuous monitoring and evidence collection suggests a strategy aimed at becoming an indispensable tool for businesses undergoing audits and seeking to maintain high security standards.
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