The company’s platform streamlines the process for businesses to achieve certifications such as SOC 2, HIPAA, and ISO 27001. Credit: Aree_S/Shutterstock.

Vanta, a technology company specialising in compliance automation, has secured $150m in a Series C funding, boosting the company’s valuation to $2.45bn.  

This investment round was led by Sequoia Capital, with participation from new and existing investors, including Goldman Sachs Growth Equity and JP Morgan.  

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The company plans to use the funding to enhance its growth in higher-tier markets by replacing complex, manual governance, risk, and compliance (GRC) solutions, expand its global footprint, and speed up the development of its AI-driven products. 

The total capital raised by Vanta since 2021 has now reached $353m.  

The company’s platform streamlines the process for businesses to achieve certifications such as SOC 2, HIPAA, and ISO 27001, which are crucial for data management, health information protection, and information security management systems.  

Vanta CEO Christina Cacioppo said: “From pioneering automated compliance to becoming the market leader in trust management, Vanta has enabled thousands of customers to strengthen their security practices, and ultimately, grow their businesses.  

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“We are honoured to have industry-leading investment firm Sequoia triple down on Vanta. Their repeated investments in and support for Vanta is a testament to the power of trust management to displace manual processes and antiquated GRC tools. Alongside our customers, Vanta is pioneering a future of security that’s moving the market from point-in-time certifications to real time trust.” 

Sequoia Capital partner Andrew Reed said: “Under Christina’s leadership, Vanta has grown into a special and enduring company. Now the clear market leader in trust management, Vanta has accelerated upmarket, launched innovative AI features, and delighted many thousands of customers along the way.  

“Sequoia led Vanta’s Series A more than three years ago, and we are equally excited to lead Vanta’s Series C today. We look forward to helping them build a legendary security and compliance company for many years ahead.” 

In January 2024, Vanta announced surpassing $100m in annual recurring revenue for the fiscal year ending 31 January 2024.  

The company claims that it nearly doubled its global customer base over the past year, with international customers growing by 90% year-over-year.  

Vanta’s trust management platform is now used by over 8,000 companies worldwide, including Atlassian, Omni Hotels, Quora, and ZoomInfo. 

The company’s workforce has grown to 500 employees, spanning key regions including North America, the UK, Germany, and Australia.