Security and compliance solutions provider Vanta on Wednesday announced raising $150 million in a Series C funding round that brings the total raised by the company to $353 million.
The latest funding, which values the company at $2.45 billion, was led by Sequoia Capital, with participation from Growth Equity at Goldman Sachs Alternatives, J.P. Morgan, Atlassian Ventures, Craft Ventures, CrowdStrike Ventures, HubSpot Ventures, Workday Ventures, and Y Combinator.
Vanta plans on using the money to fuel its expansion and accelerate AI product innovation.
The company offers what it describes as a trust management platform. The platform’s capabilities include automated compliance, continuous GRC, vendor risk management, and security questionnaire automation.
Covered frameworks include SOC 2, ISO 27001, GDPR, HIPAA, HITRUST CSF, USDP, NIST AI RMF, ISO 42001, as well as custom frameworks.
At the beginning of 2024, Vanta surpassed $100 million in annual recurring revenue. The company claims to have over 8,000 customers, including major organizations such as Atlassian, Intercom, Quora and ZoomInfo.
“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,” said Christina Cacioppo, CEO of Vanta.
“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,” Cacioppo added.
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