Drata Reaches Unicorn Status With Series B Round
San Diego – November 15, 2021 – Cooley advised Drata, a next-generation security and compliance automation company, on its $100 million Series B financing round, which brings the company’s valuation to $1 billion. Lawyers Ken Rollins, Carlos Ramirez and Dylan Kornbluth led the Cooley team advising Drata.
ICONIQ Growth led the round, which also included participation from Alkeon Capital and Salesforce Ventures. Drata will use the new capital to launch two additional frameworks, and will continue to innovate with new features that further streamline compliance and monitor security posture for companies operating in the cloud.
“This latest round of funding is still only the beginning, and with it we’re confident in our ability to accelerate Drata’s growth and leadership position in the market,” Adam Markowitz, CEO and co-founder of Drata, said in a news release. “Trust is at the core of what we do, and we’re deeply grateful for our trusted customers, investors, and partners who are helping Drata continue to push the bar in delivering its world-class product experience. We look forward to what’s ahead as we rapidly grow our team and expand product offerings.”
Drata is on a mission to help businesses earn and keep the trust of their users, customers, partners and prospects. With Drata, companies streamline compliance through continuous, automated control monitoring and evidence collection, resulting in a strong security posture, lower costs and less time spent preparing for annual audits.
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