Drata on its $100M Series B Led by ICONIQ Growth

Drata becomes one of the fastest SaaS companies ever to reach $1 billion valuation. Read what's in store for the future of Drata.

by Adam Markowitz

November 08, 2021

At Drata, we develop products that allow our customers to earn and maintain trust in their security programs. Naturally we live and breathe trust here every single day. Trust is our ethos. It lies at the heart of our company’s culture – trust dictates how we build product, how we build teams, how we support our customers, and really all things in how we operate as a business.

Years ago, my co-founders Daniel and Troy, and I felt the pain of trying to prioritize security and compliance while growing a software company, and knew deep down we shouldn’t have to decide between building great product or being secure and compliant. In fact, we don’t think you can truly build a great product without security and compliance baked in.

We knew if we could leverage automation, we could empower companies with insights and intelligence on their security posture in real time and save them hundreds of hours a year in proving that security posture before, during, and in between compliance audits—essentially putting security and compliance on autopilot.

We launched Drata out of stealth in January this year to do just that, and since then we’ve been growing at a rate we always knew was possible but really only dreamt we’d have the opportunity to prove achievable.

After only 10 months, we’re honored to have earned the trust of hundreds of amazing customers like Abnormal Security, Fullstory, Amplitude, Netlify and so many more.

We’ll have launched 4 compliance frameworks in the product before the end of the year (SOC 2ISO 27001HIPAA, and PCI DSS), we’ve grown to more than 70 employees, have been named the #1 highest Rated Cloud Compliance Software on G2 for customer satisfaction, and we couldn’t be more excited for our next phase of hypergrowth and to realize our vision for the future of security and compliance automation.

It’s been an honor to show the world that continuous, automated security and compliance is achievable and maintainable, whether you’re a 2 person startup or a 8,000-person publicly-traded company.

To fuel this next chapter, we’re excited to announce today our $100 million Series B funding, led by ICONIQ Growth, with participation from Alkeon Capital and Salesforce Ventures, making Drata one of the fastest SaaS companies ever to reach a $1B valuation.

It’s fair to say that after only 10 months we’re still very much just getting started. Our team’s relentless focus on execution and customer obsessive approach to development has allowed us to reach this milestone quickly, and now this new funding and expertise enables us to go even faster.

It’s the rocket fuel that will enable us to move even quicker, launch more frameworks, ship new features, and continue to deliver award-winning customer support to help thousands of companies put security and compliance on autopilot.

On behalf of everyone at Drata, thank you for your support, your encouragement, and most of all your trust. For our team, there’s no greater responsibility and no greater privilege to be where we are, and with the opportunity right ahead.

Our story has just begun.

Where We’re Going

We’re continuing to hire the best and brightest talent as a remote-first organization, and investing heavily in our award-winning product, as we remain committed to our customer-obsessive approach.

“We” is general, but at Drata, each one of our team members contributes to our growth. I want to thank the entire team for their endless support, hard work, and dedication that’s made Drata what it is today, and what it will be in the future. We have a truly special team and a culture that ties us together, even as we’re all remote.

If you align with our core values and are passionate about building a world-class software company, we’d love to connect with you. Please feel free to view our careers site and reach out anytime!

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Adam Markowitz
Adam Markowitz is the co-founder and CEO of Drata, a continuous security and compliance automation platform. Prior to Drata, Adam was the founder and CEO of Portfolium, an academic portfolio network for students and alumni to visually showcase their work and projects directly to employers, faculty, and fellow students/alumni. Portfolium was acquired by Instructure (NYSE:INST) in 2019. He also worked as an aerospace engineer designing, analyzing and testing liquid rocket engines for NASA’s next generation space launch vehicle as well as the Space Shuttle Main Engine. Adam earned a B.S. in Structural Engineering from UC San Diego and an M.S. in Astronautical Engineering from the University of Southern California.
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