The funding round takes Vanta’s valuation to $500M. Here are the top-line bullets you need to know.
Vanta, an automated security monitoring platform, has raised $50M in a Series A with participation from Sequoia Capital and Y Combinator. This raise valued the company at $500M.
How’s the company performing?
- California-based Vanta automates the security process to speed up SOC 2, HIPAA, and ISO 27001 compliance for businesses. Its continuous monitoring platform reduces auditing time.
- The company’s platform can be integrated with third-party services including GitHub, Slack, Okta, Google Cloud, and Amazon Web Services.
- Vanta has over 1,000 customers including Lattice, Notion, Kustomer, and Affinity, among others.
- The company, which has 65 employees, has $10M in annual recurring revenue.
Source: Vanta
Why does the market matter?
- The global cybersecurity market is projected to grow at a CAGR of 14.5% and reach a value of $352.3B by 2026, according to Mordor Intelligence.
- The rise of complex cyberattacks coupled with the need to secure IoT and machine-to-machine networks are driving the market.
- Industries like oil, energy, telecom, aerospace, and defense have recently seen significant investment in the R&D of cybersecurity owing to high susceptibility to the attacks.
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