CrowdStrike-backed compliance startup Vanta valued at $4 billion in new funding round

Vanta, a startup with software for managing compliance with cybersecurity and privacy standards, said Wednesday that it closed its latest fundraising round at a roughly $4 billion valuation.

The $150 million round, which included funding from CrowdStrike's venture arm, represents a valuation increase from $2.45 billion last year.

The jump reflects continued corporate investment in tools designed to limit fallout from cyberattacks. In recent days Microsoft rolled out updates to its SharePoint collaboration software after Chinese hackers gained access to customer data by exploiting a vulnerability.

Christina Cacioppo, Vanta's co-founder and CEO, declined to specify the company's revenue but said its growth rate is "in the ballpark of the best SaaS companies," referring to software as a service vendors. Deal sizes are growing and more clients are coming onboard, she said.

The startup, which tracks adherence to frameworks such as SOC 2 and ISO 27001, boasts more than 12,000 customers. Many of them sell software to large companies, including Atlassian and Snowflake, Cacioppo said. But Vanta can also help businesses outside of the tech industry more quickly complete security reviews before engaging outside suppliers.

Cacioppo and Erik Goldman started the San Francisco-based company in 2018 and have built it up to more than 1,000 employees. Competitors include Auditboard and Drata.

In addition to CrowdStrike Ventures, other investors in the round included Wellington Management, Atlassian Ventures, JPMorgan Chase and Sequoia Capital.

Vanta has raised $504 million since 2021. The company hasn't touched any of the $150 million it raised last year, Cacioppo said.