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Vanta bags USD 50 million funding in Series A round led by Sequoia Capital

Vanta

Source: Cobalt.io

Vanta is a San Francisco-based cybersecurity company that helps companies to get their ISO27001, SOC 2 and JIPA certified fast with its automated security monitoring platform. The company has recently announced to have raised funding worth USD 50 million in its latest Series A financing round led by Sequoia Capital.

According to the company profile on Crunchbase, it is reported that existing investor Y Combinator, a California-based start-up accelerator has also participated in the company’s financing round.

Founded back in 2017 by Christina Cacioppo and Erik Goldman, Vanta is basically a cybersecurity firm that works to restore the trust in internet businesses by giving start-ups and companies easy-to-use and effective tools to improve and better their security.

When asked about its latest funding, the cybersecurity start-up mentioned utilising these newly acquired funds to open up a new facility in New York- a second office. Other than this, the company also plans to use this capital amount to meet consumer demands and also indulge in manufacturing and launching newer products in the market.

According to a report by IDG, about 80% of top IT firms and IT security leaders, as well as employees, believe that their company or organisation is lacking effective cybersecurity tools because of which there remains a constant threat of a digital attack on data and privacy.

Vanta, as mentioned before allows companies to prepare and certify for several tests, one of which is SOC 2 audits. SOC 2 is developed by the American Institute of Certified Public Accountants and works to assess the security of Internet service providers that store consumer data in the cloud, as mentioned in a report by Venture Beat.

Cybersecurity is not even an option anymore; it has become a necessity in these times and securely reserving customer privacy and data is the utmost essential thing to take care of. Vanta’s automated security monitoring platform is known to connect with services including GitHub, Google Cloud, Slack, Okta and Amazon Web Services as well.

Vanta is also known for offering test preparatory tools for HIPAA (Health Insurance Portability and Accountability Act along with ISO 27001 which is supposed to be the international standard for information security management.

According to the company profile on Crunchbase, the start-up has raised a total of USD 50 million funding in over 2 financing rounds. The company is reportedly being funded by only two investors, Sequoia Capital and Y Combinator.

 

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