Drata Reaches Unicorn Status With Series B Round

San Diego – November 15, 2021 – Cooley advised Drata, a next-generation security and compliance automation company, on its $100 million Series B financing round, which brings the company’s valuation to $1 billion. Lawyers Ken Rollins, Carlos Ramirez and Dylan Kornbluth led the Cooley team advising Drata.

ICONIQ Growth led the round, which also included participation from Alkeon Capital and Salesforce Ventures. Drata will use the new capital to launch two additional frameworks, and will continue to innovate with new features that further streamline compliance and monitor security posture for companies operating in the cloud.

“This latest round of funding is still only the beginning, and with it we’re confident in our ability to accelerate Drata’s growth and leadership position in the market,” Adam Markowitz, CEO and co-founder of Drata, said in a news release. “Trust is at the core of what we do, and we’re deeply grateful for our trusted customers, investors, and partners who are helping Drata continue to push the bar in delivering its world-class product experience. We look forward to what’s ahead as we rapidly grow our team and expand product offerings.”

Drata is on a mission to help businesses earn and keep the trust of their users, customers, partners and prospects. With Drata, companies streamline compliance through continuous, automated control monitoring and evidence collection, resulting in a strong security posture, lower costs and less time spent preparing for annual audits.

About Cooley LLP

Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law.

Cooley has 1,500 lawyers across 17 offices in the United States, Asia and Europe.

This content is provided for general informational purposes only, and your access or use of the content does not create an attorney-client relationship between you or your organization and Cooley LLP, Cooley (UK) LLP, or any other affiliated practice or entity (collectively referred to as “Cooley”). By accessing this content, you agree that the information provided does not constitute legal or other professional advice. This content is not a substitute for obtaining legal advice from a qualified attorney licensed in your jurisdiction and you should not act or refrain from acting based on this content. This content may be changed without notice. It is not guaranteed to be complete, correct or up to date, and it may not reflect the most current legal developments. Prior results do not guarantee a similar outcome. Do not send any confidential information to Cooley, as we do not have any duty to keep any information you provide to us confidential. This content may be considered Attorney Advertising and is subject to our legal notices.