-31%

est. 2Y upside i

CybersecuritySeries C

Security and compliance automation platform for continuous monitoring

Rank

#3492

Sector

Cybersecurity

Est. Liquidity

~2Y

Data Quality

Data: Medium

Expected equity value declines ~31% over 2 years due to high entry multiple (20x ARR) and dilution risk.

Last updated: July 3, 2026

Bull (30%)+26%

Assuming IPO window opens, Drata could exit at a 15x forward revenue multiple on projected $194M ARR, yielding ~26% net upside after 20pp dilution. This scenario carries a 30% probability.

Base (30%)-33%

Exit multiple converges to 9x (lower end of public comps) on $194M ARR, resulting in -13% gross and -33% net after dilution. This 30% probability reflects competitive pressure and normal market conditions.

Bear (40%)-72%

Exit multiple compresses to 5x due to market saturation or macro headwinds, yielding -52% gross and -72% net after dilution. With 40% probability, common stock recovers near zero despite preference not triggering.

Est. time to liquidity~2.0 years

Preference Stack Risk

high

Funding Intensity

16%

Total liquidation preference of $328M represents ~16% of entry valuation, indicating significant overhang for common holders if exit is below ~$2.5B.

Dilution Risk

moderate

No recent fundraising and a $250M acquisition in 2025 suggest a capital need within 2 years, potentially diluting existing holders by ~20%.

Secondary Liquidity

moderate

Secondary implied valuation of $2.23B indicates some liquidity, but it is not an active market for employee shares.

Engineering — 4 roles

People Operations — 3 roles

Business Development — 2 roles

Product — 1 role

View all 18 open roles at Drata →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Drata's data — designed to show you've done your homework.

  • 1

    “How does Drata plan to differentiate from legacy GRC incumbents like Archer and OneTrust?”

  • 2

    “What is the company's path to profitability and cash flow breakeven?”

  • 3

    “Given the 2022 round valuation, how do you think the current equity grant aligns with the next round's pricing?”

Community

Valuation Sentiment

Our model estimates -31% upside. What do you think?

Anonymous. Do not share material non-public information.

Community Discussion

Comments are reviewed before they appear publicly.

0/2000

Loading comments...

Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.