Security and Compliance Moving at the Speed of Drata ICONIQ Growth deepens its partnership with Drata, a prominent security and compliance automation platform, by leading the companys 200M Series C. The company added it will continue to innovate with new features that further streamline compliance and monitor security posture for companies operating in the cloud. ICONIQ Growth is proud to announce our partnership with Pinecone, the vector database company providing long-term memory for AI.
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With the new funding, Drata said it is preparing to launch two additional frameworks, HIPAA and PCI DSS, and expand on its current offering of ISO 27001 and SOC 2. This results in a strong security posture, lower costs, and less time spent preparing for annual audit, according to Drata. With Drata, companies streamline SOC 2, ISO 27001, and HIPAA compliance through continuous, automated control monitoring and evidence collection. The platform then netted $25m in its Series A round led by GGV Capital, just months after.Īdherence to compliance frameworks, such as SOC 2 and ISO 27001, has increasingly become necessary to do business, but can be resource-intensive to achieve, Drata explained.Īs such, the company champions an automation-led approach.
The company exited stealth at the start of this year, on the back of a $3.2m seed funding round. Existing investors GGV Capital, Cowboy Ventures, and Leaders Fund also participated in the round. The round was led by ICONIQ Growth, with additional investments from Alkeon Capital and Salesforce Ventures.
Security and compliance automation company Drata has secured $100m in Series B funding and reached $1bn valuation.
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