Security compliance unicorn Drata lays off 9% of its workforce

Drata, a security compliance automation platform, laid off 9% of its workforce (40 employees) to refine its organizational structure and pursue sustainable growth ahead of a potential IPO, despite previously reporting strong FY24 metrics (100% YoY revenue growth, 650 new customers per quarter) and expanding headcount and acquisitions (Harmonize and Oak9). The company has raised over $300 million—including a $200 million round in December 2022 at a $2 billion valuation—with backing from Iconiq Growth, Salesforce Ventures, Satya Nadella, and Jeff Weiner.