Drata, a San Diego, California-based security and compliance automation company, announced $100 million in Series B funding led by Iconiq Growth, with additional investments from Alkeon Capital and Salesforce Ventures.
Less than 10 months out of stealth and 16 months since incorporation, Drata’s Series B funding makes the SaaS company one of the fastest to reach a $1 billion valuation. Existing investors GGV Capital, Cowboy Ventures, and Leaders Fund also participated in this round.
With its new funding, Drata is planning to launch HIPAA and PCI DSS compliance, expanding on its current offering of ISO 27001 and SOC 2, the company said in a news release.
Company: Drata Inc.
Raised: $100.0M
Round: Series B
Funding Month: November 2021
Lead Investors: Iconiq Growth
Additional Investors: Alkeon Capital, Salesforce Ventures, GGV Capital, Cowboy Ventures, and Leaders Fund
Company Website: https://drata.com/
Software Category: Compliance and security platform
About the Company: Drata is an advanced security and compliance automation platform with the mission to help companies earn and keep the trust of their users, customers, partners, and prospects. Drata helps companies streamline their SOC 2 ISO 27001 and HIPAA compliance through continuous, automated control monitoring and evidence collection and time spent preparing for annual audits. Drata was founded in 2020 by Adam Markowitz, Daniel Marashlian, and Troy Markowitz, and is based in San Diego, California, United States.
Source: https://www.corporatecomplianceinsights.com/drata-reaches-unicorn-status-100m-series-b-funding/