Drata, a San Diego software startup that helps businesses prove they have strong cyber-security and data-privacy safeguards, has pulled in $200 million in a third round of funding — a hefty amount given the overall pullback in venture capital investment this year.
While it’s harder to raise money now than it was a year ago, there is capital available for fast-growing startups, said Mike Krenn, head of Connect/San Diego Venture Group. It is built to handle 14 compliance standards and counting, including HIPPA health-information privacy rules, National Institute of Standards and Technology cyber-security guidelines, and General Data Protection Regulation mandates, among others.
Still, Drata has seen its customer base swell from a few hundred to more than 2,000 firms in the past year. Its headcount has grown from 70 to 300 workers.