![]() ![]() While this year will only see around $16 billion, that is still nearly double from 2020. 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. Replace manual GRC efforts, reduce costs, and save time preparing for audits and maintaining compliance. 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. Drata is the smartest way to achieve continuous framework compliance for SOC 2, ISO 27001, HIPAA, GDPR, and many more. ![]() 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. 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. 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 company's 200M Series C. Drata’s automation platform helps companies with security compliance, making sure they are in line with regulations such as GDPR. ICONIQ Growth is proud to announce our partnership with Pinecone, the vector database company providing long-term memory for AI. ![]()
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