Last year set a record for the sector, with more than $23 billion raised by VC-backed startups in network, cloud and cybersecurity, per Crunchbase data. Overall, funding to cyber startups will not hit the highs of last year - which is not surprising as 2021 was an outlier in VC funding. IDC projects the GRC market to reach $15 billion in the next three years, making it a possible lucrative sector for tech startups offering solutions. The governance, risk and compliance sector in cyber has long garnered interest from investors as more regulations flood sectors such as finance and health care. Those numbers are not entirely surprising.
Drata soc 100m iconiq growth series#
That was followed by being minted a unicorn with its Series B in November of that year.Īccording to Crunchbase, Drata has now raised more than $328 million in less than two years. The company raised a seed round in January 2021, then its Series A in June 2021. The latest round keeps up with Drata’s quick pace of fundraising. “Since 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,” said co-founder and CEO Adam Markowitz in a release. Keeping up to date with compliance rules and regulations also can help build trust in a company’s customer base, making it easier to retain clients. As we spend more of our lives online, threats to security and privacy will only accelerate. Drata’s automation platform helps companies with security compliance, making sure they are in line with regulations such as GDPR. ICONIQ Growth is thrilled to partner with Drata to lead their 100 million Series B financing as they continue their relentless efforts to transform how all businessesfrom small teams to public companiesmanage compliance and security. Sloan brings more than 25 years of experience delivering transformative growth in B2B SaaS companies SAN DIEGO, J/PRNewswire/ - Drata, a continuous security and compliance automation.
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