https://www.channelfutures.com/wp-content/themes/channelfutures_child/assets/images/logo/footer-new-logo.png
  • Home
  • Technologies
    • Back
    • SDN/SD-WAN
    • Cloud
    • RMM/PSA
    • Security
    • Telephony/UC/Collaboration
    • Cable
    • Mobility & Wireless
    • Fiber/Ethernet
    • Data Centers
    • Backup & Disaster Recovery
    • IoT
    • Desktop
    • Artificial Intelligence
    • Analytics
  • Strategy
    • Back
    • Mergers and Acquisitions
    • Channel Research
    • Business Models
    • Distribution
    • Technology Solutions Brokerages
    • Sales & Marketing
    • Best Practices
    • Vertical Markets
    • Regulation & Compliance
  • MSP 501
    • Back
    • 2022 MSP 501 Rankings
    • 2022 NextGen 101 Rankings
  • Intelligence
    • Back
    • Galleries
    • Podcasts
    • From the Industry
    • Reports/Digital Issues
    • Webinars
    • White Papers
  • Channel Futures TV
  • EMEA
  • Channel Chatter
    • Back
    • People on the Move
    • New/Changing Channel Programs
    • New Products & Services
    • Industry Honors
  • Resources
    • Back
    • Advisory Boards
    • Industry Organizations
    • Our Sponsors
    • Advertise
    • 2023 Editorial Calendar
  • Awards
    • Back
    • 2022 MSP 501
    • Channel Influencers
    • Circle of Excellence
    • DE&I 101
    • Technology Advisor 101 (TA 101)
  • Events
    • Back
    • 2023 Call for Speakers
    • CP Conference & Expo
    • MSP Summit
    • Channel Partners Europe
    • Channel Partners Event Coverage
    • Webinars
    • Industry Events
  • About Us
  • DE&I
Channel Futures
  • NEWSLETTER
  • Home
  • Technologies
    • Back
    • SDN/SD-WAN
    • Cloud
    • RMM/PSA
    • Security
    • Telephony/UC/Collaboration
    • Cable
    • Mobility & Wireless
    • Fiber/Ethernet
    • Data Centers
    • Backup & Disaster Recovery
    • IoT
    • Desktop
    • Artificial Intelligence
    • Analytics
  • Strategy
    • Back
    • Mergers and Acquisitions
    • Channel Research
    • Business Models
    • Distribution
    • Technology Solutions Brokerages
    • Sales & Marketing
    • Best Practices
    • Vertical Markets
    • Regulation & Compliance
  • MSP 501
    • Back
    • 2022 MSP 501 Rankings
    • 2022 NextGen 101 Rankings
  • Intelligence
    • Back
    • Galleries
    • Podcasts
    • From the Industry
    • Reports/Digital Issues
    • Webinars
    • White Papers
  • Channel Futures TV
  • EMEA
  • Channel Chatter
    • Back
    • People on the Move
    • New/Changing Channel Programs
    • New Products & Services
    • Industry Honors
  • Resources
    • Back
    • Advisory Boards
    • Industry Organizations
    • Our Sponsors
    • Advertise
    • 2023 Editorial Calendar
  • Awards
    • Back
    • 2022 MSP 501
    • Channel Influencers
    • Circle of Excellence
    • DE&I 101
    • Technology Advisor 101 (TA 101)
  • Events
    • Back
    • 2023 Call for Speakers
    • CP Conference & Expo
    • MSP Summit
    • Channel Partners Europe
    • Channel Partners Event Coverage
    • Webinars
    • Industry Events
  • About Us
  • DE&I
    • Newsletter
  • REGISTER
  • MSPs
  • VARs / SIs
  • Agents
  • Cloud Service Providers
  • Channel Partners Events
 Channel Futures

Business Models


Shutterstock

2 billion

Drata Gains $200 Million in New Funding, Pushing Valuation to $2 Billion

  • Written by Edward Gately
  • December 7, 2022
Drata will invest in R&D and its soon-to-be-released API.

Drata, a continuous security and compliance automation platform, has obtained $200 million in Series C funding co-led by Iconiq Growth and GGV Capital.

The latest round of funding doubles Drata’s valuation to $2 billion since its Series B in November 2021. With Drata, thousands of companies streamline over 14 compliance frameworks through continuous, automated control monitoring and evidence collection. That results in improved security, lower costs and less time spent preparing for annual audits.

Drata's Kevin Kriebel

Drata’s Kevin Kriebel

Kevin Kriebel is Drata‘s vice president of business development. He said Drata partners will benefit from the funding.

“Since Drata’s inception, we’ve had a strong focus on product velocity and execution to address gaps that exist in the governance, risk and compliance (GRC) market today,” he said. “That is why we’re using this latest round of funding in part to invest in R&D, allowing us to continue our pace of innovation to build a more robust platform for partners to provide more comprehensive service offerings. We are also making additional investments into our soon-to-be-released API to enable an open-ended integration network.”

Doubling Down on Partner Ecosystem

Drata launched the first iteration of its partner program this year, Kriebel said. It has quickly grown into a “meaningful” source of revenue for both Drata and its partners.

“We are doubling down on our partner ecosystem by launching our service partner directory in mid-December, enabling our 2,000-plus and growing customer base to connect directly with firms to assist them on their GRC journey,” he said. “Drata’s dedication to the channel also extends to empowering VARs, SIs and MSSPs with a robust library of sales and technical enablement, preferred pricing and NFR accounts.”

In addition, partners have already led the way in bringing Drata to new international markets and will continue to be a major focus of its global expansion strategy. Kriebel said.

Drata has shown “unparalleled speed of execution,” he said.

“We’ve doubled our valuation in 13 months, because we’ve developed a product that our customers and the market find highly valuable,” Kriebel said. “A lot of our next phase of growth will be focused on effortless compliance, which means more integrations, automation and a very strong representational state transfer (REST) API that will power a lot of this.”

What Partners Can Expect in 2023

In 2023, partners can expect Drata’s continued focus on providing the channel with “best-in-class” commercial terms, enablement and new customer acquisition opportunities, Kriebel said.

“In just under two years, Drata has already become the go-to compliance automation platform for 2,000-plus customers and 100-plus partners, and we are just getting started,” Kriebel said.

Oren Yunger is partner at GGV Capital.

“Since leading Drata’s Series A, we’ve been doubling down in every round,” he said.

Want to contact the author directly about this story? Have ideas for a follow-up article? Email Edward Gately or connect with him on LinkedIn.
Tags: MSPs VARs/SIs Business Models Cloud Regulation & Compliance Security Strategy

Most Recent


  • Revamping
    4 Signs You Need to Revamp Your Channel Partner Program
    Flexible partner programs are key to accommodate different business models, maximize opportunity and balance costs.
  • ThreatLocker Zero Trust World Day 2 2023 Feature
    Zero Trust World 2023: ThreatLocker Unleashes Ops Threat-Detection Tool
    ThreatLocker also will be rolling out a new portal.
  • Layoffs
    Telecom-IT Layoff Tracker 2023: Cisco, RingCentral, Microsoft, 8x8, Sophos, More
    The onslaught of layoffs is bleeding over into this month.
  • Job Cuts
    January's Tech Layoff Scourge: Deep Dive Into Channel Impact
    We break down the seemingly daily layoffs impacting various companies doing business in the channel.

Leave a comment Cancel reply

-or-

Log in with your Channel Futures account

Alternatively, post a comment by completing the form below:

Your email address will not be published. Required fields are marked *

Related Content

  • Making Waves
    8 Channel People Making Waves This Week at AWS, Elastic, Nextiva, the UK Government, More
  • The last few days have seen a flurry of deals and M&A activity in the channel in particular in the cloud and consulting services arenas Service providers looking to better position themselves for competitive advantage or acquisition should take note of the trends these deals highlight
    Rousing MSP M&A Roundup: Avalara, Sourcepass, Auvik and More
  • Hit by layoff
    Airtable Layoffs Hit More than 250 Employees, Company to Operate More Cautiously
  • Strategic road map
    HPE CEO Reveals Strategic Road Map of ‘Sustainability, Data and Hybrid’

Upcoming Events

View all

Channel Partners Conference & Expo

May 1, 2023 - May 4, 2023

Channel Partners Europe

June 13, 2023 - June 14, 2023

Channel Futures Leadership Summit

October 30, 2023 - November 2, 2023

Galleries

View all

Zero Trust World 2023: ThreatLocker Unleashes Ops Threat-Detection Tool

February 2, 2023

Telecom-IT Layoff Tracker 2023: Cisco, RingCentral, Microsoft, 8×8, Sophos, More

February 2, 2023

January’s Tech Layoff Scourge: Deep Dive Into Channel Impact

February 2, 2023

Industry Perspectives

View all

How to Break Through the Growth Ceiling

February 1, 2023

5 Things to Look for in a UC Partner

January 31, 2023

The Benefits of Hiring an Investment Bank

January 30, 2023

Webinars

View all

Next-Generation MSP Platform: The Building Blocks for Your Business

February 15, 2023

How To Boost Your Business With White-Label UCaaS

February 28, 2023

Security Secrets of the MSP 501: How to Be a Cyber Leader in 2023

December 15, 2022
  • 1

White Papers

View all

6 UCaaS Reseller Challenges and How Real World Businesses Solved Them

February 1, 2023

Frost Radar: North American UCaaS Market, 2022

February 1, 2023

The Complete Guide to White-Label UCaaS for Reseller Success

February 1, 2023

Channel Futures TV

View all

Coffee with Craig and James Episode 117: Cato Networks, Video Killed the Podcast Stars

Retired Astronaut Capt. Scott Kelly Previews His CP Expo Keynote

December 21, 2022

Fusion Connect Eyes Future with Intrado UC, Managed Network Customers

September 23, 2022

RingCentral Focused on Hybrid Work, Microsoft Teams, Other Integrations

September 23, 2022

Twitter

ChannelFutures

.@SovosCompliance offers tips for how and when to revamp #partnerplans. dlvr.it/ShtDgv https://t.co/vPzajXnjee

February 3, 2023
ChannelFutures

Day 2 of #ZTW: @ThreatLocker unveils new Ops threat detection tool. dlvr.it/Shs93Y https://t.co/dAnj6IUiF2

February 3, 2023
ChannelFutures

.@broadvoice appoints a channel vet as new program leader. Before joining the company, he had risen through the ran… twitter.com/i/web/status/1…

February 2, 2023
ChannelFutures

More activity over at @Pax8 (which just hired @RobTRae): the #cloud marketplace firm has purchased @BamBoomCloud.… twitter.com/i/web/status/1…

February 2, 2023
ChannelFutures

.@SamsungMobile launches #GalaxyS23 phones, new #GalaxyBook3Ultra at Samsung Unpacked. dlvr.it/ShrW8G https://t.co/DloltwdMsE

February 2, 2023
ChannelFutures

The new partnership between Channel Futures and @ITExchangeNet is poised to benefit the partner community.… twitter.com/i/web/status/1…

February 2, 2023
ChannelFutures

.@JuniperNetworks announces transition to “solution building outcomes," addresses pain points around quoting, prici… twitter.com/i/web/status/1…

February 2, 2023
ChannelFutures

Day 1 of #ZTW23: @ThreatLocker hopes attendees walk away smarter about #zero trust and cybersecurity.… twitter.com/i/web/status/1…

February 2, 2023

MSP 501

The industry's largest and most comprehensive partner awards program.

Newsletters and Updates

Sign up for The Channel Report, Channel Futures Update, MSP 501 Newsletter and more.

Live Channel Events

Get the latest information on the next industry-leading Channel Partners event.

Galleries

Educational slide shows and images from live events.

Media Kit And Advertising

Want to reach our audience? Access our media kit.

DISCOVER MORE FROM INFORMA TECH

  • Channel Partners Events
  • Telecoms.com
  • MSP 501
  • Black Hat
  • IoT World Today
  • Omdia

WORKING WITH US

  • Contact
  • About Us
  • Advertise
  • Newsletter

FOLLOW Channel Futures ON SOCIAL

  • Privacy
  • CCPA: “Do Not Sell My Data”
  • Cookie Policy
  • Terms
Copyright © 2023 Informa PLC. Informa PLC is registered in England and Wales with company number 8860726 whose registered and Head office is 5 Howick Place, London, SW1P 1WG.
This website uses cookies, including third party ones, to allow for analysis of how people use our website in order to improve your experience and our services. By continuing to use our website, you agree to the use of such cookies. Click here for more information on our Cookie Policy and Privacy Policy.
X