Vanta raises $150 million in a Series C round to fuel enterprise expansion, AI Innovation

Vanta, a trust management platform, has raised $150 million in its Series C funding round at a valuation of $2.45 billion.

The funding round was led by Sequoia Capital, with new investors such as Growth Equity at Goldman Sachs Alternatives and J.P. Morgan joining in, alongside existing investors including Atlassian Ventures, Craft Ventures, CrowdStrike Ventures, HubSpot Ventures, Workday Ventures, and Y Combinator.

The latest funding brings its all-time raise to $353 million.

Purpose of fundraising

With the new funding, Vanta plans to enhance its market presence and innovation capabilities. The company aims to replace manual Governance, Risk, and Compliance (GRC) solutions, expand its global footprint, and accelerate the development of its AI product offerings.

Andrew Reed, Partner at Sequoia Capital, praised Vanta’s growth under CEO Christina Cacioppo, stating, “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.”

Surpassing $100 million in ARR

In January 2024, Vanta announced it surpassed $100 million in ARR in FY24, ending January 31, 2024. The company also nearly doubled its global customer base in the past year, including a 90% year-over-year increase in international customers.

"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. Alongside our customers, Vanta is pioneering a future of security that’s moving the market from point-in-time certifications to real time trust," Cacioppo said.

What does Vanta do?

Founded in 2018, Vanta is a trust management platform that helps simplify and centralize security for organizations of all sizes.

The company claims that over 8,000 companies, including Atlassian, Omni Hotels, Quora and ZoomInfo, rely on its solutions. It also claims to have customers in 58 countries, with offices in Dublin, New York, San Francisco and Sydney.

Over the past year, Vanta has introduced over 260 new product features, such as Vanta AI-powered Questionnaire Automation and Trust Centers.

Additionally, the company has established the world’s largest network of Trust Centers and enhanced its platform with a REST API, SCIM provisioning support, and more multi-instance integrations.