Security and compliance software Vanta hits $1.6B valuation with new financing from investors including Sequoia and Craft Ventures. Vanta competitors are Secureframe, Tugboat Logic, and Drata.

Vanta, a provider of security and compliance software, has raised $110M in a Series B. The round drew participation from Craft Ventures, Sequoia Capital, and Y Combinator, among others.

How’s the company performing?

• California-based Vanta helps companies automate compliance for standards such as SOC 2, ISO 27001, HIPAA, PCI DSS, GDPR, and CCPA.
• The company has over 3K customers, including Quora, Autodesk, Gem, Shortcut, and Loom.
• The company has recently launched “Trust Reports”, which allow firms to share their security status in real time.
• It has 250 employees.

Source: Vanta

Why does the market matter?

• The global eGRC (enterprise governance, risk management, and compliance) market is expected to reach a value of $60.7B by 2026, growing at a CAGR of 10.9%, according to Markets and Markets.
• Mounting regulatory pressure from governments as well as the increasing integration of AI and blockchain technologies into eGRC solutions have contributed to market growth.

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