Drata has raised a total of $328.2 million across multiple funding rounds, with its largest being a $200 million Series C round in December 2022. The San Diego-based security and compliance automation platform helps enterprises streamline compliance across various frameworks, including SOC 2, ISO 27001, PCI DSS, HIPAA, and GDPR. Drata's platform emphasizes automation, enterprise-grade solutions, and simplifying security operations for fast-growing companies.
Keep reading to explore Drata's funding journey, key investors, and what's next for this innovative compliance automation company.
What Is Drata and What Does It Do?
Founded in 2020 by Adam Markowitz, Daniel Marashlian, and Troy Markowitz, Drata is headquartered in San Diego, California, with plans to expand globally. The company specializes in compliance automation, helping businesses maintain and demonstrate adherence to major standards and frameworks. Its platform enables continuous monitoring, real-time reporting, and streamlined audits.
With a team of 201–250 employees, Drata combines security expertise and technology to deliver enterprise-grade solutions, helping companies save time, reduce risk, and ensure efficient regulatory compliance.
How Much Funding Has Drata Raised?
- Seed Round
- Amount Raised: $3.2M
- Date: January 2021
- Lead Investors: Cowboy Ventures
- Motivation: To kickstart the development of Drata's compliance automation platform.
- Series A
- Amount Raised: $25M
- Date: June 2021
- Lead Investors: Notable Capital
- Motivation: To expand platform capabilities and support additional compliance frameworks.
- Series B
- Amount Raised: $100M
- Date: November 2021
- Lead Investors: ICONIQ Growth
- Valuation at Round: $1 billion
- Motivation: To scale the platform and integrate additional compliance frameworks.
- Series C
- Amount Raised: $200M
- Date: December 2022
- Lead Investors: ICONIQ Growth, GGV Capital
- Valuation at Round: $2 billion
- Motivation: To invest in R&D and enhance the enterprise-grade, automation-first solution.
Total Funding Raised: $328.2M
Current Valuation: $2B
Latest Funding Date: December 2022
Key Investors
- ICONIQ Growth
- Details: Growth equity firm investing in high-growth technology companies, supporting companies from early growth to IPO.
- Investment Focus Areas: Technology, fintech, consumer internet
- Notable Investments: Snowflake, Datadog, Uber
- GGV Capital
- Details: Global venture capital firm investing across consumer, internet, enterprise, and smart tech sectors.
- Investment Focus Areas: Consumer, internet, enterprise, smart tech
- Notable Investments: Alibaba, Slack, Square
- Salesforce Ventures
- Details: Investment arm of Salesforce, focusing on enterprise cloud companies.
- Investment Focus Areas: Enterprise cloud, SaaS, CRM
- Notable Investments: Zoom, DocuSign, Twilio
- Cowboy Ventures
- Details: VC firm investing in seed-stage technology startups, helping founders build transformative products.
- Investment Focus Areas: Seed-stage, technology, consumer internet
- Notable Investments: Dollar Shave Club, Guild Education, Productboard
- Silicon Valley CISO Investments (SVCI)
- Details: Group of CISO investors providing expertise to support innovative cybersecurity solutions.
- Investment Focus Areas: Cybersecurity, enterprise security, data protection
Where Is Drata's Headquarters?
Drata is headquartered in San Diego, California, United States, providing access to tech talent, enterprise clients, and a growing cybersecurity ecosystem. Expansion plans aim to broaden its compliance automation services globally, enabling collaboration with international enterprises and partners.
What's Next for Drata?
Drata is poised to capture a substantial share of the $15 billion GRC market by expanding into additional compliance frameworks and enhancing its enterprise-grade automation solutions. Participation in programs like AWS ISV Accelerate strengthens its ability to streamline compliance for a broad customer base.
Future fundraising is likely to fuel further growth and R&D investments. Key challenges include navigating evolving compliance requirements, maintaining platform quality during scaling, and competing in a crowded cybersecurity and compliance automation sector.
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