Vanta, a startup that helps companies comply with security standards, is set to be valued at more than $2 billion in a new insider funding round, multiple sources told Business Insider.
Vanta was last valued at $1.6 billion in a 2022 funding round led by Craft Ventures on October 12, 2022, according to Forbes.
CrowdStrike Holdings, Atlassian Ventures, HubSpot Ventures, Workday Ventures, Acrew Capital, Pioneer Fund, ASDF Ventures, Zag Capital, Sequoia Capital, Frontline Ventures, Y Combinator and LAUNCH Fund also participated in the last round.
Christina Cacioppo founded Vanta in 2018 in the wake of several high-profile data breaches. She previously worked in product management at Dropbox and was an analyst at Union Square Ventures.
Vanta has raised more than $200 in venture funding, but it is not clear how much it is raising with this latest round.
Details are not yet finalized and the figures involved are subject to change. Vanta did not respond to a request for comment.
The company was named one of BI's most promising startups of 2023.
"Thousands of companies rely on Vanta to build, maintain, and demonstrate trust in a way that's real-time and transparent," Pear VC's Pejman Nozad told BI last year. "They also launched Vanta Community for peer-to-peer support. From automating compliance to building the future of trust management, I'm confident the Vanta team is just getting started!"
