Drata raises $3.2m seed round and exits stealth

From: RegTech Analyst

Compliance and security automation startup Drata has exited stealth on the back of a $3.2m seed funding round.

“Drata’s mission is to help companies earn and keep the trust of their users, customers, partners, and prospects,” said Adam Markowitz, CEO and co-founder, Drata. “A clean SOC 2 report is independent proof that a company prioritises the security of its customers’ data. SOC 2 is a colossal undertaking, and we’re proud to be delivering the solution to automate and continuously streamline the process for today’s fastest-growing SaaS companies.”

The raise comes as the number of hack attacks rose during the pandemic, raising the demand for safe cybersecurity solutions.

Cowboy Ventures led the seed capital round. Leaders Fund, SV Angel and a smattering of angel investors also participated in the raise.

“Drata is a team of seasoned entrepreneurs and engineers who have a successful track record and have worked together for more than then years,” said Ted Wang, partner at Cowboy Ventures. “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.”

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