San Diego Launcher Draw to raise $ 25 million for software security automation

San Diego Dratta, an automated information security monitoring and reporting startup, announced this week that it has raised $ 25 million for capital in the first round.

The funding comes six months after Drata raised $ 3.2 million from seed investors and went into hiding. The fast-growing startup signed its 100th customer just two months after launching the product in January.

Current clients include Clearco, SmartRecruiters, The Good Face Project, 360 Insights and Trust & Will.

“The market response was amazing,” said Adam Markweiz, CEO and co-founder of Drata.

Cyber ​​security is a major threat to small and medium-sized companies, and many ensure that they have strong, up-to-date security protocols in place before they allow their registration software, cloud computing and other third-party providers to access their networks.

That process involves auditing, which can take hundreds of hours if done manually. Draft automatically works for real-time reporting and monitoring called SOC 2 compliance – minimum required for most subscription software providers.

The founders, Adam Marcoutz, Daniel Marshall, and Troy Marcoutz, learned about the importance of early compliance automation in the former company’s portfolio.

The social networking platform allows university students and recent graduates to connect with businesses and complete their academic studies. Found in 2019 in the structure.

As the portfolio grew, the customer’s request was also verified for the company’s security. That was significant time-consuming and disruptive.

With the new funding, Drata plans to expand its customer base and increase compliance activities beyond the current SCC2 standards in the United States and in Europe.

GV Capital led the fund, with Octa Venture, Silicon Valley Caso Investors, Cowboy Venture and Leadership Fund participating.

“Complete evidence of a company’s security and compliance has quickly become a business requirement,” said Oren Young, of GVV Capital. The company’s proven track record has proved to be a real industry challenge, and GGV is looking forward to supporting the team as it grows rapidly.