“Vanta Raises $2.45 Billion Valuation with Sequoia Capital Backing”, “Vanta announced on Wednesday that it secured $150 million in a new funding round led by Sequoia Capital, a venture capital firm. This funding round has propelled Vanta to a valuation of $2.45 billion. Vanta specializes in online security and compliance management.”
“After a nearly two-year slowdown influenced by high interest rates and a sluggish exit market for startup investors, U.S. venture capital firms are now showing keen interest in companies embracing artificial intelligence (AI) adoption.”
Vanta says it wants to double down on its AI innovation, eliminate legacy tools in compliance and deepen its global presence by venturing into the UK and Australia.
“The venture capital arms of banking giants Goldman Sachs and JPMorgan Chase joined in a recent funding round, which included all previous investors returning. This round brings the total raised by the company since 2021 to $353 million.”
San Francisco-based Vanta raised $50 million in 2021 in a round led by Sequoia Capital, which also participated in its fundraise the year after. The company achieved a valuation of $1.6 billion when it raised $110 million in 2022.
The company has more than 8,000 customers, including Microsoft-owned developer platform GitHub, hiring platform SmartRecruiters and database company ZoomInfo.
Vanta, founded in 2018 by CEO Christina Cacioppo, helps its clients with security monitoring and achieving compliance certifications at a faster pace through process automation.
“We’re investing in Vanta because of their demonstrated platform approach, starting with automated compliance and rapidly adding new modules,” said Goldman Sachs growth equity investor Mike Reilly.
Atlassian Ventures, Craft Ventures, CrowdStrike Ventures, HubSpot Ventures, Workday Ventures and Y Combinator were the other investors in the funding round.