Announcing Vanta’s $50 Million Series A from Sequoia Capital
I co-founded Vanta in 2017 because I saw that security was often just a buzzword for companies, rather than core to how they build products. No one wants to put customers’ data at risk, but it’s easy for teams to prioritize other features over tougher (and often more critical) security groundwork – until it's too late. When a data breach exposes consumer data, as over 150 million Americans experienced last year alone, we all lose trust in the software that increasingly powers our lives.
Vanta restores trust in internet businesses by giving startups an easy-to-use set of tools to improve and prove their security. We started by automating SOC 2, the most commonly-accepted framework for demonstrating security. Before Vanta, preparing for a SOC 2 audit was a months-long, arduous process that either required hiring expensive consultants or deputizing a senior member of the team to drop everything and “figure it out.” With Vanta, startups can get SOC 2-ready in as little as two weeks by connecting tools like their cloud provider and task tracker, fixing the gaps surfaced by Vanta’s automated assessment, and working with a Vanta-trained auditor to validate their security practices.
Today, I’m delighted to announce that Vanta has raised its $50 million Series A fundraising round, led by Andrew Reed at Sequoia Capital, and with participation from existing investor Y Combinator. We’re proud of our progress to date, and from here we can redefine how our industry thinks about software security. Those aspirations necessitate a long-term partner. Sequoia’s track record of backing category-defining companies is unparalleled, and we’re excited to partner with them. We pioneered the automated security and compliance space, and we’ve already helped over 1,000 companies with SOC 2 prep and grown to over $10 Million in annual recurring revenue – all before institutional funding. This funding will accelerate product development to serve more customer needs, attract top talent to the Vanta team (we’re hiring across the board at vanta.com/jobs!), and better get the word out.
So what’s next? SOC 2 has always been just the beginning for Vanta. Today, we’re announcing support for ISO 27001 and HIPAA, our two most-requested certifications. With ISO 27001 and HIPAA support, Vanta customers can demonstrate their security posture to customers outside the U.S. and customers that store electronic health information. These are available today in Beta and will be broadly available in the coming months.
Today marks one milestone along our journey to secure the internet, and I’d like to thank the Vanta team and our customers for growing Vanta into the industry leader. I’m delighted to embark on this next phase together.
Vanta restores trust in internet businesses by giving startups an easy-to-use set of tools to improve and prove their security. Over 1,000 fast-growing companies rely on Vanta to automate their security monitoring and prepare for SOC 2, ISO 27001, or HIPAA compliance certifications in weeks instead of months. Vanta was founded in 2017 and headquartered in San Francisco. For more information, visit https://www.vanta.com
PCI Compliance Selection Guide
Determine Your PCI Compliance Level
If your organization processes, stores, or transmits cardholder data, you must comply with the Payment Card Industry Data Security Standard (PCI DSS), a global mandate created by major credit card companies. Compliance is mandatory for any business that accepts credit card payments.
When establishing strategies for implementing and maintaining PCI compliance, your organization needs to understand what constitutes a Merchant or Service Provider, and whether a Self Assessment Questionnaire (SAQ) or Report on Compliance (ROC) is most applicable to your business.
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Identify your PCI SAQ or ROC level
The PCI Security Standards Council has established the below criteria for Merchant and Service Provider validation. Use these descriptions to help determine the SAQ or ROC that best applies to your organization.
Good news! Vanta supports all of the following compliance levels:
A SAQ A is required for Merchants that do not require the physical presence of a credit card (like an eCommerce, mail, or telephone purchase). This means that the Merchant’s business has fully outsourced all cardholder data processing to PCI DSS compliant third party Service Providers, with no electronic storage, processing, or transmission of any cardholder data on the Merchant’s system or premises.
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A SAQ A-EP is similar to a SAQ A, but is a requirement for Merchants that don't receive cardholder data, but control how cardholder data is redirected to a PCI DSS validated third-party payment processor.
Learn more about eCommerce PCI
A SAQ D includes over 200 requirements and covers the entirety of PCI DSS compliance. If you are a Service Provider, a SAQ D is the only SAQ you’re eligible to complete.
Use our PCI checklist
A Report on Compliance (ROC) is an annual assessment that determines your organization’s ability to protect cardholder data. If you’re a Merchant that processes over six million transactions annually or a Service Provider that processes more than 300,000 transactions annually, your organization is responsible for both a ROC and an Attestation of Compliance (AOC).
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