Vanta Raises $110 Million at $1.6 Billion Valuation

Vanta is a company-developer of a platform that provides companies with a way to make their systems compliant with data security standards, as well as to help them to get SOC 2, HIPAA, or ISO 27001 certified quickly. Vanta’s mission is to restore trust in internet business and protect consumer data. Vanta automates security monitoring by connecting to clients’ IT tools, fixing the gaps on dashboards, and making security audit.

The funding round Series B was led by Craft Ventures. Existing bakers, among which are Sequoia Capital and Y Combinator, also took part in the round. After the round, Vanta became a unicorn, less than a year after its first raise of institutional capital. “The cost of screwing up compliance or having a security breach is huge,” says David Sacks, a partner at Craft Ventures, recognizing the importance of compliance.

Vanta, San Francisco, the USA, was founded by Christina Cacioppo and Erik Goldman in 2017. Before founding Vanta, Christina Cacioppo was a product manager at Dropbox, where she experienced complexities with people’s data security. Vanta primarily sells its software to startups, enabling them to achieve the same level of security standards as big companies, thus, giving them an opportunity to compete for the same security-conscious clients. As of now, the company has 3000 companies in its customer base. This list includes Marvin, Hearth, Modern Treasury, Vestwell, etc. “Vanta’s mission to secure the internet has never been more prescient or more relevant. Both vendors and buyers need better ways to improve their security and prove that security to one another,” Christina Cacioppo, Vanta co-founder and Chief Executive Officer.

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