A San Francisco security and compliance start-up drove a funding campaign with an impressive $ 50 million net total. The Series A funding announcement came on Tuesday. The company already had a spectacular 2020. In the financial year of 2020, Vanta made a quintuple of its revenue.
Vanta, as a start-up, looks over security for primary start-ups and businesses. The customer base of Vanta is around 1000. This long, impressive list includes video messaging start-up, Loom, software start-up Notion and fin-tech start-up Motion Treasury.
Sequoia Capital initiated the funding round. The start-up declared to use the fund amount to meet the customer demand. Additionally, they will launch new products. Vanta will open a new office as well in New York.
In a 2017 survey, Deloitte found that only 42% of the respondents found their intuitions well-equipped to manage cyber security risk effectively. There are more factors to add to these concerns like the pandemic did nothing but increase the problems.
Though there was an increase in IT security investment by the companies in the face of work-for-home challenges, the cyber security risk persisted. According to reports, 80% of senior IT workers and security leaders at IT agreed that their organizations did not have a sound defence system against cyber security attacks.
Vanta works uniquely. It is not a security platform with a bunch of alerts. The company has focused on the best industry standards to ensure the maximum security of company. They protect email setup, cloud infrastructure and employee workstation devices. All these devices go through an automated process.
Vanta is like a house guard but extra vigilant. It goes the extra mile of keeping “all the doors and windows closed”. Recent news bore witness to a series of data breaches which made experts take the standard for security more seriously.
What Vanta is building is not super high-tech software that is impenetrable. Instead, they have focused on a holistic approach to providing this wall of security that prevents malware and spyware from infiltrating the systems. Also, if the system gets breached, Vanta will alert you.
Founded in 2017, Vanta has become one of the fastest-growing start-ups since its inception. Aside from revenue growth, Vanta has also seen employee growth from 45 in 2020 to 70.