Reflecting on FY24: Resilient Growth and Leadership in Compliance Automation

On the heels of celebrating our three-year anniversary, Drata soared to new heights in FY 2024. We extended our wings into the EMEA market, welcomed several new executives to the Drata family, witnessed an impressive 100% increase in revenue, and said hello to thousands of new customers.

With intensifying demand for compliance regulations and a constantly changing business environment, there’s never been a greater need for Drata’s continuous compliance automation capabilities.

Drata experienced remarkable global growth, surpassing 4,000+ customers across 50+ countries. The company streamlines risk and compliance for companies of all sizes, including Calendly, SmartRecruiters, and Distology. Drata also cemented its leadership status in G2’s Cloud Compliance category, and ranked in the top 30 for G2’s 2024 Top 100 Best Software Products list.

“Drata’s rapid growth is a testament to how much they prioritize the customer experience. We’ve seen immediate value, reducing time spent on audit activities by 90 percent. Drata takes ‘scaling with you’ seriously, delivering capabilities that allow us to achieve our business objectives.”

—Rishi Bhatia, Head of GRC and Security Operations, Calendly

Growing Together

We're thrilled to report a staggering 100% Year-over-Year (YoY) revenue growth, not to mention a fantastic 425% YoY customer growth in EMEA. We've been adding up to 650 new customers each quarter, resulting in an outstanding 100% YoY increase in global customer growth.

We’ve grown internally too, expanding our headcount by 52% across seven countries. Our commitment to excellence isn't just in what we do but also in the incredible team we've built. In fact, our efforts were recognized by Fortune’s Best Workplaces in Technology, Insider’s Most Promising Cybersecurity Startups, Fortune x Lightspeed Cyber 60, BuiltIn’s Best Places to Work, and more.

The Drata team got even stronger with key executive hires, like Conor Nolen, our Chief Customer Officer (CCO); George Bonser, Vice President (VP) of Sales in EMEA; Matt Hillary, VP, Security and Chief Information Security Officer (CISO); and Sydney Sloan, Chief Marketing Officer (CMO). These leaders are driving Drata's success and shaping our future.

"With unmatched customer experience and the remarkable speed of new offerings added to its platform, Drata has been a gamechanger for Smartrecruiters. The Drata team addresses our needs faster than we anticipate, allowing us to constantly stay ahead of the curve with our compliance program."

—Michel Hjazeen, Information Security GRC Lead at SmartRecruiters

The Power of the Product

You’ll never find us staying complacent at Drata. We expanded our library to over 23 supported compliance frameworks, launched key product offerings like Audit Hub, Open API, Role-Based Access Controls and User Access Reviews, and Third Party Risk Management.

We deepened our partnership with AWS and made it easier for customers to buy, configure, and deploy Drata in AWS Marketplace in minutes through the Quick Launch feature. In addition to being recognized as a Top 5 global independent software vendor (ISV) in AWS Marketplace Private Offers transaction volume, we were also selected as KnowBe4’s exclusive GRC partner and preferred compliance automation platform.

“Manually managing risk and compliance is unsustainable in the reality of our day-to-day IT management, so Drata’s powerful automation engine helps us stay on top of where the gaps are across our security controls and third-party ecosystem without losing focus on our business. With Drata's platform and service team, we’re able to move our compliance program forward and with a holistic, detailed view of our security compliance posture that we haven’t had before.”

—Lance Williams, Chief Technology Officer, Distology.

To facilitate stronger collaboration with our partners, we launched “Launch - The Drata Alliance Program.” This initiative continues to foster our robust partner ecosystem, bringing together Technology Partners, Channel Partners, Audit Alliances, and the Drata for Startups Program.

We also strengthened our integrations with critical applications and systems. The goal? To make the compliance process smoother and more automated for you.

"Three years in, Drata has transformed security compliance for 1.2 million users, becoming the go-to source for building and maintaining trust," said Adam Markowitz, CEO. "Our collaborative ecosystem of dedicated partners, investors, customers and of course the Drata team propels our mission of building trust across the cloud. We're just getting started and ready for sustained growth and innovation in year four."