In September 2024, enterprise security compliance unicorn Drata laid off 40 employees, representing 9% of its workforce. The San Diego-based company, which automates compliance for frameworks like SOC 2 and GDPR, cited a refinement of its organizational structure to enhance operational efficiency and drive sustainable growth. This move comes despite the company reporting 100% year-on-year revenue growth and rapid customer acquisition earlier in 2024, having also expanded its headcount significantly and made its first acquisitions. Backed by over $300 million in funding and valued at $2 billion, Drata indicated this strategic adjustment is part of its course toward a potential future IPO.
