Vanta, an online security and compliance management platform, announced on Wednesday that it raised $150 million in a new funding round led by Sequoia Capital, bringing its valuation to $2.45 billion.
US venture capital firms are now focusing on companies adopting artificial intelligence (AI) after nearly two years of high interest rates and a slow exit market for startup investors.
Vanta plans to double down on AI innovation, eliminate outdated compliance tools, and expand its global presence in the UK and Australia.
Goldman Sachs and JPMorgan Chase’s venture capital arms also joined the round, with all previous investors returning. This brings Vanta’s total funding to $353 million since 2021.
In 2021, San Francisco-based company raised $50 million in a round led by Sequoia Capital, which also participated in its 2022 fundraising. Vanta reached a $1.6 billion valuation after raising $110 million in 2022.
Vanta serves over 8,000 customers, including GitHub (owned by Microsoft), the hiring platform SmartRecruiters, and the database company ZoomInfo.
Founded in 2018 by CEO Christina Cacioppo, Vanta helps clients achieve compliance certifications faster through automated processes and security monitoring.
“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 also invested in the recent funding round.
