Drata, a continuous security and compliance automation platform, has netted $200m in a Series C funding round. Â
The round was led by GGV Capital and ICONIQ Growth and also saw participation from Salesforce Ventures, Cowboy Ventures, Silicon Valley CISO Investments, FOG Ventures and S Ventures. Several angel investors also took part in the round.
In 2021, Drata raised $100m in a Series B raise that lifted its valuation to $1bn. Following this recent round, the company is now valued at $2bn.
Since the Series B, Drata claims it has broadened into an industry-leading security compliance platform, expanding to more than 14 compliance frameworks, standards and regulations such as NIST SP, 800-53, CPPA and GDPR.
Drata launched its dynamic Trust Center earlier this year, which enables customers to proactively display the health of their compliance programs, as well as its risk management offering to continuously monitor, identify, assess and treat risks.
According to Drata, it will use the newly raised capital to continue heavily investing in R&D as the company further builds its enterprise grade, automation first, solution. Drata said it remains committed to investing in features for startups and auditors alike to provide streamlined paths to compliance without sacrificing quality and integrity.
Drata CEO and co-founder Adam Markowitz said, â€œSince our inception, Drata has been designed to bridge the gap between compliance and trust through automation, and we’ve made significant progress in less than two years. This next phase of growth will only further accelerate those efforts, introduce a new wave of open compliance, and help us realize our vision of being the trust layer between our incredible customers and those they do business with.”
Copyright Â© 2022 FinTech Global