Drata Announces Completion of $25M Series A Funding Round

By Nicholas Say Nicholas Say has been verified by Muck Rack's editorial team
Published on June 27, 2021

The advanced security and compliance platform Drata announced a successful $25M Series A funding round led by GGV Capital.

The platform has raised the funds around six months after it gained seed funding to support its 100% month-over-month average growth rate – and expand its offerings of compliance products.

According to the platform, it’s developing compliance products that would meet ISO 27001 standards, which is another core security standard used all over the world to help companies protect their IT systems and safeguard data.

The new funding will be used to hire across key go-to-market functions and expand the Drata platform beyond SOC 2 and into ISO 27001, the European compliance counterpart, as well as develop additional security frameworks.

New investors in the firm include Okta Ventures and Silicon Valley CISO Investors (SVCI), as well as insiders Cowboy Ventures and Leaders Fund, along with several strategic investors and security practitioners.

The company’s current customers consist of hundreds of companies across various industries, including Clearco, SmartRecruiters, The Good Face Project, 360 Insights, and Trust & Will.

Founded in 2020 by Adam Markowitz, Daniel Marashlian, and Troy Markowitz, Drata is headquartered in San Diego, California, United States.

Drata builds a security and compliance automation platform that continuously monitors and collects evidence of a company’s security controls, while streamlining compliance workflows end-to-end to ensure audit readiness.

Its continuous, automated control monitoring and evidence collection allow companies to be able to streamline compliance to reduce costs and time spent preparing for annual audits.

The company is in its efforts to provide customers with the fastest time-to-value possible while reducing the number of additional tools required.

Digital security is a vital part of modern industry, and has been at the forefront of numerous issues over the past year. Earlier in 2021 hackers shut down the Colonial Pipeline, and caused untold economic disruption across the Eastern USA.

The need for products that keep IT systems safe, and essential physical systems operational will likely grow from here.

By Nicholas Say Nicholas Say has been verified by Muck Rack's editorial team

Nicholas Ross Say is a news desk editor at Grit Daily. An award-winning journalist, he covers the daily startup beat. He grew up in Ann Arbor, Michigan and has lived in South America and South East Asia. At present, Nicholas lives in Southern Vietnam where the Sun shines, and the noodles flow like wine. He's written for Blockonomi and Coin Journal, among others.

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