Vanta, a trust management platform that automates security and compliance processes for businesses, recently announced the completion of a $150 million Series C funding round led by Sequoia Capital. The company’s valuation is now at $2.45 billion, up from $1.6 billion after its $40 million Series B round in 2022. Earlier this year, Vanta reported exceeding $100 million in ARR for the financial year ending in January.
Originally focused on helping businesses achieve ISO 27001, HIPAA, SOC 2, and similar certifications, Vanta is now expanding its services to a more comprehensive discussion around trust. CEO Christina Cacioppo emphasized the company’s goal to assist companies in enhancing their security programs to earn trust and revenue for their security efforts.
Vanta is actively developing security tools to ensure company claims regarding data access and security are verifiable on a technical level. The company is also focusing on integrating with existing security solutions and has already developed many in-house integrations.
Vanta’s AI products, including the recent questionnaire automation tool, aim to streamline security review processes and save time for companies by automating repetitive tasks with high accuracy rates.
With plans to expand globally, strengthen their AI offerings, and cater to larger enterprises, Vanta looks to leverage the new funding for growth. The funding round included new investors like Growth Equity at Goldman Sachs Alternatives and J.P. Morgan, along with participation from existing investors.
