Sure there are.
- Raised drawbridges are impassable when toggled and passable when not toggled, the opposite of floodgates. In certain mechanical setups this is a vital distinction.
- Drawbridges are dangerous to be around; a dwarf or item that gets caught in a drawbridge when it's raising dies. If the spot in question is anywhere near where dwarves work or move, you don't want that risk.
- Drawbridges take more time to make. Quite a bit. It also requires an uncommon skill.
A better question, however, is why use floodgates instead of doors? Mechanically attached doors open and shut instantly, unlike floodgates and bridges. Doors are a commonly used item in a fortress, unlike floodgates, so it's common to have some laying around and you rarely have to worry about overproducing them. A dwarf who places a door on the wrong side can simply walk through it, unlike with a floodgate (won't help the mechanic if he connects it to the lever from the wrong side, though). The only real reason to use floodgates instead of doors is if you want to block of a 3 tile or greater passageway, but I have to ask why you have passageways that large in your plumbing system because you really don't need them (the pressure system makes water flow just as fast through one tile as through 5).