VANTABIO

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By Ateev Bhandari and Pritam Biswas

July 23 (Reuters) - Online security and compliance management platform Vanta was valued at $4.15 billion in its latest fundraising round, up from $2.45 billion just a year ago, as investor appeal of risk-mitigating software rises in tandem with cyber attacks.

The $150 million Series-D round, led by new investor Wellington Management, brings Vanta's total external funding to $504 million, Vanta said on Wednesday.

Businesses' increasing reliance on cloud and artificial intelligence technologies has also amplified their exposure to cyber attacks. As they expand across borders, they also have to deal with compliance requirements that vary greatly by nations.

In recent months, hacker targets have included retailer Marks & Spencer MKS.L, tech behemoth Microsoft MSFT.O and insurer Aflac AFL.N.

Proceeds from the round will be used to expand Vanta's AI offerings and customer base, including engagements with the U.S. government, Vanta co-founder and CEO Christina Cacioppo told Reuters.

Venture financing arms of major corporations also participated in the round, indicating industry validation. These included Goldman Sachs Alternatives, J.P. Morgan, CrowdStrike Ventures and Atlassian Ventures - whose parent Atlassian TEAM.O is a Vanta customer as well.

Vanta's previous financing round in July 2024, led by Sequoia Capital, had valued it at $2.45 billion, implying a 69% rise in valuation in a year.

The AI boom has helped U.S. startups attract investment so far this year, even as venture capital firms struggled to raise money, according to a Pitchbook report.

Cacioppo likened AI's impact on productivity to centaur chess, in which a combination of computer and human intuition can enhance player experience.

Founded in 2018, Vanta employs more than 1,000 people across its offices in Dublin, New York, San Francisco, Sydney, and London - which it opened late last year.

Vanta's newly launched AI agent can help teams finish security reviews 81% faster, the company said.

(Reporting by Ateev Bhandari and Pritam Biswas in Bengaluru; Editing by Sahal Muhammed)

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An alert on automated compliance and trust management platform Vanta expanding into Australia and New Zealand was incorrectly tagged to medical research company Vanta Bioscience Ltd VANB.BO and has been withdrawn.

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Adds CEO comment in paragraph 6

By Pritam Biswas

July 24 (Reuters) - Online security and compliance management platform Vanta said on Wednesday it had raised $150 million in a fresh funding round led by venture capital firm Sequoia Capital, giving it a valuation of $2.45 billion.

Companies pursuing artificial intelligence (AI) adoption are attracting the attention of U.S. venture capital firms after a near two-year lull driven by high interest rates and a sluggish exit market for startup investors.

Vanta said it wants to double down on its AI innovation, eliminate legacy tools in compliance and deepen its global presence by venturing into the UK and Australia.

The venture capital businesses of banking giants Goldman Sachs GS.N and JPMorgan Chase JPM.N also participated in the round that saw all previous investors returning, bringing the lifetime raise of the company to $353 million since 2021.

San Francisco-based Vanta had raised $50 million in 2021 in a round led by Sequoia Capital, which also participated in its fundraise the year after.

"Having Sequoia triple down on Vanta, including leading both our Series A and Series C rounds is tremendous validation," CEO Christina Cacioppo said, adding that such a sustained and long-term partnership is "rare".

The company achieved a valuation of $1.6 billion when it raised $110 million in 2022.

It has more than 8,000 customers, including hiring platform SmartRecruiters and database company ZoomInfo ZI.O.

Vanta, founded in 2018 by Cacioppo, helps its clients with security monitoring and achieving compliance certifications at a faster pace through process automation.

"We're investing in Vanta because of their demonstrated platform approach, starting with automated compliance and rapidly adding new modules," said Goldman Sachs growth equity investor Mike Reilly.

Atlassian Ventures, Craft Ventures, CrowdStrike Ventures, HubSpot Ventures, Workday Ventures and Y Combinator were the other investors in the funding round.

(Reporting by Pritam Biswas in Bengaluru; Editing by Devika Syamnath)

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Dec 1 (Reuters) - Vanta Bioscience Ltd VANB.BO:

• GETS ORDER WORTH 5.7 MILLION RUPEES FOR GLP STUDIES

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