Drata Raises $3.2M from Cowboy Ventures, Leaders Fund, SV Angel, and Prominent Angels to Automate SOC 2

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by Adam Markowitz

January 13, 2021
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My team and I are thrilled to introduce Drata to the world, and announce our $3.2M seed round led by Cowboy Ventures.

A Spotlight on Our Mission, Core Values, Customers, and Future

Today, Drata announced a $3.2 million Seed round of funding to accelerate the execution of our mission of helping companies earn and keep the trust of their customers when it comes to the security of their data. The round was led by Cowboy Ventures, along with Leaders Fund, SV Angel, and prominent angel investors and operators in security and enterprise software. This new group of individuals around the Drata table gives us the experience, perspective, and momentum to supercharge Drata into its next chapter.

This milestone represents months of dedication by some of the hardest working people I’ve ever had the pleasure to know. We’ve successfully built a platform to help automate security control monitoring and streamline continuous SOC 2 compliance for some of today’s fastest-growing companies.

A magnifying glass has been placed over data privacy and security, and companies today need to prove early and often that they prioritize the security of their customers’ data. That proof comes in the form of a clean SOC 2 report, but achieving and maintaining SOC 2 compliance is a colossal task, taking hundreds of hours each year. We felt this pain firsthand scaling our previous company Portfolium (acq by NYSE:INST), and witnessed companies being forced to invest significant time and resources in tackling SOC 2 – but not anymore.

With this new funding, we can continue to invest in our product, hire more incredibly talented people, and continue to help build trust across the internet.A funding announcement traditionally comes with an increase in attention. The Drata team would like to capture some of that spotlight and shine it on our mission, core values, customers, and future.

Our Mission: Built on Trust

We approach each day with a focus on execution – and draw a direct line between what we’re working on and the impact we’re having on our mission and vision for the future. Through deep integrations and automation, we are successfully:

  • Providing real-time insights on a company’s data security and compliance posture

  • Developing solutions to help automate and streamline time-consuming workflows

  • Empowering teams to accelerate their growth and scale securely

We have made giant strides in such a short period of time, and we couldn’t be prouder of our customers’ outcomes, but we’re just getting started!‍

Core Values

At Drata, we don’t talk about culture in the same breath of talking about a nice office or swag. We know from experience that our culture is defined by the core values we each embody every day, and because of that, our culture is never static. That means it’s something we work on and strive for every day and will continue to do so as we grow. Our core values guide us in making important decisions across the board—from hiring to product roadmap.

We Are Built on Trust

Trust is our most precious asset, earned through consistency over time.

We Act With Integrity

We do the right thing, even when no one else is looking.

Customer-centric

Everything we do revolves around the customer at the center of our purpose.

Competitive Fire

It burns from within – we push ourselves harder than anyone else ever could.

Diversity

Unique perspectives provide a better, more complete view of a problem and its possible solutions.

Automation

Our products save companies time and money – efficiency is paramount.

To Our Customers

You have given us your trust, and that is the most important thing you could give us. Dozens of the fastest-growing companies today have trusted our team, technology, and vision for automating their security and compliance programs. As Jeff Weiner infamously said, “trust is consistency over time,” so we will continue to earn your trust every day by delivering the highest quality product and service. We will be relentless in our pursuit of automation and exceed your expectations at every opportunity.


The Future

We’re creating the next generation security and compliance company. We will power greater efficiency for companies and auditors. We will help companies build trust, accelerate growth, and scale securely.If our core values resonate with you and you’d like to learn more about what it’s like to work at Drata, we’d love to talk to you!

"Drata is a team of seasoned entrepreneurs and engineers who have a successful track record and have worked together for more than 10 years. The platform they developed truly delivers on the promise of automation to reduce the burden of SOC 2 compliance and sets companies up for continuous monitoring which is coming in the future. We are excited to be working with this team."  Ted Wang - Cowboy Ventures

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adam
Adam Markowitz
CEO and Co-founder