Sequoia Leads Funding for Startup Vanta at $2.45 Billion Valuation

By Sarah McBride

July 24, 2024 at 8:00AM EDT

Christina Cacioppo, co-founder and chief executive officer of Vanta Inc., during the Collision conference in Toronto, Ontario, Canada, on Thursday, June 29, 2023. Collision brings together the people and companies redefining the global tech industry. (Chloe Ellingson/Bloomberg)

(Bloomberg) -- Compliance startup Vanta Inc. said it had raised a $150 million funding round that valued the company at $2.45 billion, two years after its last round.

Sequoia Capital led the financing, which the company said it would use in part to accelerate work in artificial intelligence. New investors in the round included Goldman Sachs Alternatives and JPMorgan Chase & Co.

The San Francisco-based startup also said it had almost doubled its customer base, which includes Atlassian Corp. and Modern Health Inc. It’s on track for more than $100 million in revenue this year, the company said.

Sequoia led Vanta’s first institutional round in 2021, with Craft Ventures leading the 2022 round, which valued the company at $1.6 billion.