Drata Raises $25M Series A Led by GGV Capital to Support Rapid Growth of its Next-Gen Compliance Automation Platform
Drata announces $25M Series A round led by GGV Capital, along with SVCI (Silicon Valley CISO Investments), Okta Ventures, Basis Set Ventures, and prominent angels and operators.by Adam Markowitz
Last week marked six months since launching Drata out of stealth, and today we’re proud to announce our $25M Series A round led by GGV Capital, along with SVCI (Silicon Valley CISO Investments), Okta Ventures, Basis Set Ventures, and prominent angels and operators.
With a 100% average month-over-month growth rate, Drata is scaling at a velocity we always knew was possible but only dreamt we’d have the opportunity to prove achievable – and with this new funding and expertise at the table, we can accelerate even faster into the next phase of growth!
We are truly humbled by the market’s reception to Drata, and it only deepens our commitment to building a world-class product that helps companies earn and keep the trust of their customers.
As I shared just a short six months ago, funding announcements traditionally come with a brief burst of attention. And just as before, we’d like to take the opportunity to capture and shine some of that spotlight on what we’ve built at Drata and some of the incredible people who have helped support our journey to date…
We’re thrilled that Cowboy Ventures and Leaders Fund, investors in the seed round, continue to support the Drata vision with such strong conviction again at the Series A. We couldn’t have asked for better early investors and advocates.
We are proud to be backed by GGV Capital leading our A round of financing. GGV Capital is a global venture capital firm with a proven track record of backing winners. We’re honored to welcome Glenn Solomon and Oren Yunger to our board. Their thought leadership in security, and pristine track record as investors and operators, will contribute to Drata’s continued success and help catapult the company to new heights.
We’re also excited to welcome new investors Okta Ventures and Silicon Valley CISO Investments (SVCI). SVCI is an angel syndicate composed of some of the world’s leading CISOs (Chief Information Security Officers). The group’s unmatched industry expertise is the perfect complement to help Drata shape the future of security and compliance automation.
"It became clear to me right away that Drata is an engineering powerhouse. The solution they’ve developed is well ahead of other market players, and their approach to deep, native integrations provides users with the most advanced automation available ". Philip Martin – Chief Security Officer at Coinbase
When Drata came out of stealth in January of this year, we focused our go-to-market efforts on the SOC 2 framework. Widely considered to be the gold standard for SaaS companies , SOC 2 was a pain-point we had experienced ourselves during our days building our previous company, Portfolium. Rather than try to be everything to everyone right out of the gate, we spent our time deepening (and broadening) our integrations, fine-tuning our onboarding, and most of all: listening to our customers to make Drata the hands-down best SOC 2 automation platform in the market.
We’re now proud to announce that we are taking our automation-first approach and relentless focus on execution and expanding the product, with the introduction of our ISO 27001 automation solution.
Companies that have used Drata for their continuous SOC 2 compliance and want to now expand into ISO 27001, or companies looking to start with ISO 27001, can use Drata to do so. We continue to expand our product thoughtfully while remaining customer obsessed every step of the way. Happy customers are our highest priority. We can’t wait to show the world what else we have planned, as we are just getting started!
None of the above is possible without the incredible hard work and dedication of a truly world class team. The Drata team began with a group of 13 individuals who had spent years together building and scaling SaaS companies. It’s fair to say the team was “battle-tested” and ready to execute right out of the gate. Every one of us could speak to the importance of establishing and embedding a strong company culture with clearly defined values from the beginning.
Drata develops a product that allows its customers to build trust, and we live and breathe that every day here. Trust in what we’re doing, trust in one another, and trust that we always do the right thing for our customers and shareholders, regardless if anyone is looking. As we grow and bring on more incredibly talented people, we all remain committed to this winning culture to further accelerate Drata’s mission and vision with the highest level of integrity.
If our 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! For more information on what it’s like to work at Drata, please take a look at our reviews on Glassdoor.