On June 25, 2021 Drata announced how much their Series A round funding had brought in, a total of $25 Million. The investor company GGV Capital who has asset funding around the $9 Billion mark is known to help fund start-up security intelligence companies. However, what is Drata? Drata is a compliance and security automation company that offers a fast way to achieve and maintain continuous compliance. Automation companies are not only ruling the venture capital of 2021, but investors are on high alert for these exact companies.
New co-led investors that participated are: Okta Ventures, Silicon Valley CISO Investors (SVCI), Cowboy Ventures Capital, and Leaders Fund. Many other companies participated in the investor series funding that are involved in security automation and strategic investor vc firms.
Drata is located in San Diego, California where the employee count is around 11 – 50, however they are actively hiring at the moment. This private company was founded in 2020 and has shocked many companies with how quickly they have been able to attract investors. The company is already looking for European companies as business allies and plan on expanding its platform beyond SOC 2 into ISO 27001 within a year.
Co-founders Adam Markowitz, Daniel Marashlian, and Troy Markowitz have all previously been a part of the fintech world. These 3 coming together to form a company has all of the components to support a technical look at what security automation should entail and what can be enhanced about that specific software. As stated, be Markowitz in their press release the company focuses on automate compliance and building trust with clientele. The biggest selling point clients have seen with the company Drata is the ability to add in new security frameworks without crashing the system.
The growth potential is astounding because on their 60th day after launching the company they sealed their 100th customer. However, Drata’s competitor list is quite long and consists of these companies: Tugboat Logic, SolarWinds Service Desk, Vanta, RFPI, Loopio, Secureframe, LogMeln Central, AlienVault USM, OneTrust, Ivanti Unified Endpoint Manager, ProHance, Oomnitza, CloudGuard IaaS, BMC Helix Discovery, Device42, Flexera One, Genuity, and Lansweeper.
There has been no merging or selling off parts of the Drata company, honestly there will be no merging with Drata in the foreseeable future. The company continues to receive 5 out of 5-star rating from their clients which just brings in more revenue since this is a for profit company. Drata is growth potential will most likely double or triple towards the second half of 2021 into 2022. For vc firms looking for excellent security automation, you’ll be seeing from clients, social media posts about how their company’s security has improved with the use of Drata’s software.
All three co-founders have confirmed that Drata has grown 100% per month for the year of 2021 so far. Cloud services has reached an all-time high in 2021, as security online protection was affected by the prolonged absence from working within an actual office. Drata comes off of a huge gap within the security cloud assistance performance sector that all companies saw drop in 2020.
Co-Founder Adam Markowitz LinkedIn: https://www.linkedin.com/in/markowitzadam/