Christina Cacioppo, the CEO of Vanta, a software startup that automates companies’ security and compliance processes, has received a new round of funding worth $150 million. Cacioppo, who hails from Ohio, built Vanta around Midwestern values like thriftiness and maintaining a humble approach to business. Despite the company’s success and valuation jumping to $2.45 billion, Cacioppo aims to hold onto Vanta’s scrappy roots while investing in areas that will contribute to the company’s growth.
Sequoia, one of Vanta’s early investors, led the latest funding round along with new investors Goldman Sachs and JP Morgan. The company has more than $100 million in annual recurring revenue and a growing customer base of over 8,000 clients, including Quora and Modern Health. Vanta, which was founded in 2018, automates security compliance processes for software companies through continuous monitoring and real-time reporting. The company now employs 500 people and has expanded its services to non-software companies that buy software as well.
Vanta wasn’t actively seeking additional funding, as it still had a significant portion of its previous funding round remaining. However, Cacioppo believes that a higher valuation will benefit the company’s core business and help in recruiting, gaining customer trust, and solidifying its market leadership. With the new funding, Vanta plans to expand internationally, invest in AI technology, and release new products aimed at a wider range of customers, particularly larger enterprises. The company also aims to maintain its competitive edge against rivals such as Secureframe, Thoropass, and Drata, while trying to displace legacy players like OneTrust and AuditBoard.
As Vanta continues to evolve, it is incorporating AI features into its products, including a chatbot and security questionnaires that auto-populate answers based on uploaded documents. The company has also introduced new products like Vendor Risk Management, which helps companies assess the security of software they purchase. Cacioppo acknowledges the importance of self-promotion in the competitive landscape of software startups and has become more comfortable sharing Vanta’s story to ensure recognition and growth.
Despite the company’s success, Cacioppo recognizes the need to balance her personal life and professional responsibilities as Vanta’s CEO. As Vanta matures, she has learned to give herself grace in deciding when to tackle company challenges and when to take a break. While the company’s ultimate goal may include a public offering, Cacioppo emphasizes that Vanta does not solely orient itself around an IPO internally. Looking ahead, the focus is on steady growth and maintaining a competitive edge in the industry, with Vanta planning for the future while staying true to its humble beginnings.
