We are enamored and deeply impressed with the team’s vision, focus, and execution compared to others we’ve seen in the market. After experiencing the cumbersome process to achieve and maintain SOC 2 certification at Portfolium ( Instructure), Adam Markowitz, Daniel Marashlian and Troy Markowitz were motivated to tackle the compliance problem head-on. Leveraging several years of experience building companies together, we believe this team rows together at an unparalleled pace, exhibiting outstanding execution. Their bold vision was to put compliance and security on autopilot. What they brought is Drata – a company we believe is the category-leading pioneer focused on revolutionizing compliance automation. ICONIQ Growth is thrilled to partner with Drata to lead their $100 million Series B financing as they continue their relentless efforts to transform how all businesses-from small teams to public companies-manage compliance and security.Īs we spend more of our lives online, threats to security and privacy will only accelerate.
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To help manage these risks, businesses are increasingly strengthening their security postures by requiring that their vendors, partners, and customers adhere to security compliance frameworks like SOC 2, ISO 27001, HIPAA, PCI DSS and more. In our conversations with leaders at a variety of businesses, we commonly hear terms like “tedious” and “never-ending” to describe these debilitatingly archaic approaches to protect against bad actors.
In recent years, compliance automation has seen explosive growth. The number of companies achieving SOC 2 compliance has increased considerably over the past twelve months, in particular. Globally, businesses across sectors have quickly realized that these certifications can dramatically reduce sales cycles and help build deep trust with customers and partners.
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