Security automation platform Drata nets $200m Series C

ICONIQ Growth and GGV Capital led the round.

  • Other participants in the round included Alkeon Capital. Salesforce Ventures, Cowboy Ventures and S Ventures
  • The latest round of funding doubles Drata’s valuation to $2 billion since its Series B in November 2021
  • GGV manages $9.2 billion in investments across the U.S., Canada, China, Southeast Asia, India, Latin America and Israel

San Diego-based Drata, a continuous security and compliance automation platform, has raised $200 million in Series C funding.

ICONIQ Growth and GGV Capital led the round. Other participants in the round included Alkeon Capital. Salesforce Ventures, Cowboy Ventures and S Ventures.

The latest round of funding doubles Drata’s valuation to $2 billion since its Series B in November 2021.

“The Drata team continues to set the bar higher with its innovative platform and customer-centric approach,” said Will Griffith, a founding partner at ICONIQ Growth in a statement. “The speed with which the company operates continues to blow us away. We’re looking forward to supporting Drata’s future growth as they cement their leadership position in the compliance and security automation industry.”

ICONIQ Growth’s portfolio includes Adyen, AirBnB, Alibaba, Alteryx, Automattic, BambooHR, Braze, Chime, Collibra, Coupa, Datadog, Docusign and Gitlab.

Founded in 2000, GGV manages $9.2 billion in investments across the U.S., Canada, China, Southeast Asia, India, Latin America and Israel.