Online security and compliance management platform Vanta on Wednesday, July 24, announced that it has managed to raise $150 million in investment funds as part of a new round of financing led by venture capital company Sequoia Capital.
According to the results of the mentioned round of financing, the value of the firm reached the $2.45 billion mark.
It is worth noting that currently in the United States, companies that seek to adopt artificial intelligence are in the focus of increased attention from venture capital firms. The corresponding tendency has become a kind of revival after almost two years of lull against the background of such reality circumstances as high interest rates and a sluggish exit market for startup investors.
Vanta has announced its intention to double down innovation in the area of artificial intelligence. The company also plans to eliminate legacy tools in compliance and expand its global presence by launching operations in the markets of Australia and the United Kingdom.
Venture capital businesses from banking giants such as Goldman Sachs and JPMorgan Chase participated in the Vanta financing round, among others.
The total investments raised by the company since 2021 amounted to $353 million. In the mentioned year, Vanta, based in San Francisco, raised $50 million in a funding round led by Sequoia Capital.
Chief Executive Officer Vanta Christina Cacioppo said that having Sequoia triple down on this firm, including leading both Series A and Series C rounds is tremendous validation. She also noted that such a stable and long-term partnership is rare.
In 2022, the value of Vanta reached the $1.6 billion mark. At that time, the company managed to raise $110 million.
Currently, Vanta has more than 8,000 clients, including, among others, hiring platform SmartRecruiters and database firm ZoomInfo. The company was founded in 2018 by Christina Cacioppo. The firm helps consumers with security monitoring and achieving compliance certifications at a faster pace through process automation.
Goldman Sachs growth equity investor Mike Reilly explained the interest in Vanta with its demonstrated platform approach, which includes automated compliance and the rapid addition of new modules.
As we have reported earlier, Skild AI Raises $300 Million.
