Leading trust management platform Vanta announced that it has raised a $150 million Series C funding round at a valuation of $2.45 billion. The funding round was led by Sequoia Capital along with new investors Growth Equity at Goldman Sachs Alternatives, J.P. Morgan and existing investors Atlassian Ventures, Craft Ventures, CrowdStrike Ventures, HubSpot Ventures, Workday Ventures and Y Combinator. The most recent funding round brings Vanta’s total funds raised to $353 million since 2021.
Vanta plans to use the funding to increase its upmarket momentum by replacing cumbersome, manual GRC solutions, deepening its global presence, and accelerating its AI product innovation.
In January 2024, Vanta revealed it surpassed $100 million in ARR in FY ‘24, ending January 31, 2024. Along with reaching this milestone within five years of entering the market, Vanta nearly doubled its global customer base this past year, including growing its international customers by 90% year-over-year.
Now, over 8,000 companies – including leading enterprises Atlassian, Omni Hotels, Quora, and ZoomInfo – depend on Vanta as their trust management platform to build, maintain, and demonstrate trust.
In the past year, Vanta has delivered accelerated product, customer, and organizational growth as it continues to increase its market leadership, including launching over 260 new product features. The company also established a large network of Trust Centers, an enterprise’s first line of defense to proactively demonstrate their security and compliance posture to prospects and customers.
KEY QUOTES:
“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.”
– Andrew Reed, Partner, Sequoia Capital
“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. We’re honored 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.”
– Christina Cacioppo, CEO, Vanta
“Compliance is a critical component of the modern security stack for businesses of all sizes, but especially large enterprises with complex security and regulatory requirements, such as Goldman Sachs. We’re investing in Vanta because of their demonstrated platform approach, starting with automated compliance and rapidly adding new modules such as Trust Centers and Vendor Risk Management. Their proven ability to strategically execute and adapt quickly as a next-generation compliance leader is both undeniable and increasingly important as the landscape of potential risk vectors accelerates.”
– Mike Reilly, Investor, Growth Equity at Goldman Sachs Alternatives
“Trust is the bedrock of the relationship between Atlassian customers and our third-party Marketplace Partners. Our partnership with Vanta enables app vendors to cement credibility by achieving certifications that strengthen their security posture and ensure compliance with regional and industrial regulations. With the help of Vanta and Atlassian, Marketplace Partners can expedite critical security and compliance assessments to accelerate cloud migrations, maintain trust, and do what matters most for customers.”
– Phil Grove, Group Product Manager – Ecosystem, Atlassian
