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cover of episode Solving start-up puzzles, with Vanta CEO Christina Cacioppo

Solving start-up puzzles, with Vanta CEO Christina Cacioppo

2025/3/13
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Christina Cacioppo
领导着一家价值16亿美元的安全和合规自动化公司,具有丰富的风险投资和产品管理背景。
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Christina Cacioppo: 我从小就喜欢解决难题,这成为我创业的基石。在Union Square Ventures的经历让我学习到市场驱动型投资理念,并意识到创业并非易事,需要找到真正有价值的项目。我自学编程,并通过在朋友公司蹭办公桌的方式给自己创造了学习的结构和环境。在创业初期,我并没有急于开始公司,而是花时间寻找真正值得投入的项目,避免陷入长期挣扎的困境。Vanta 的想法来源于我与安全领域人士的广泛沟通,我发现通过合规性来推动公司尽早建立安全体系是一个有市场的需求。Vanta 的市场契合点并非一蹴而就,而是通过持续的客户沟通和市场反馈逐渐建立起来的。Vanta 通过自动化原本繁琐的手动流程,帮助公司建立安全体系并证明其合规性,从而降低了合规成本。Vanta 将复杂的合规要求简化,通过最佳实践帮助公司满足合规要求,并自动化文档生成过程,从而节省时间和成本。Vanta 只是提供结构和流程,最终的合规责任仍然在公司自身。我通过学习、与专家交流和持续实践来掌握SOC 2等合规知识,而非通过获得正式的专业资格认证。Vanta 吸引人才的关键在于其工作内容的趣味性和对客户的实际帮助,以及公司快速发展的市场前景。Vanta 的早期销售成功是通过直接接触工程师和工程主管,并充当工程和审计之间的桥梁来实现的。Vanta 的早期收入主要来自公司已有的IT预算。Vanta 的发展历程包括早期小规模融资、参与Y Combinator加速器项目以及团队建设。我在Dropbox的经历让我意识到在早期创业阶段,招聘合适的人才至关重要,要选择那些能够适应不确定性的人。Vanta 的招聘流程注重透明和坦诚,让候选人了解公司面临的挑战,并根据他们的适应能力进行筛选。在公司发展到一定规模后,组建领导团队变得至关重要。管理远程团队的关键在于不断重复公司使命、愿景和价值观。公司在2021年下半年经历了快速增长阶段,这带来了许多挑战,但也让团队积累了宝贵的经验。Vanta 将人工智能技术应用于产品开发中,以提高效率和改进用户体验。Vanta 将持续开发新的产品和功能,以满足客户不断变化的需求,并扩展其在信任管理领域的业务。Vanta 未来将继续拓展其在信任管理领域的业务,并将合规性作为切入点,帮助公司提升整体安全水平。Vanta 的长期目标是成为一家独立且可持续发展的公司,上市只是其发展中的一个里程碑。 Jeff Berman: 作为主持人,Jeff Berman主要负责引导访谈,提出问题,并对Christina Cacioppo的回答进行总结和引导。

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Chapters
Christina Cacioppo's journey from a young entrepreneur selling Beanie Babies to founding the $2.5 billion Vanta, a trust management platform focusing on digital security and compliance, is highlighted. Her passion for problem-solving and her unique approach to building a successful tech company are explored.
  • Christina Cacioppo's early entrepreneurial experiences selling Beanie Babies.
  • Vanta's $2.5 billion valuation.
  • Vanta's focus on digital security and compliance.
  • The complex yet valuable nature of Vanta's services.

Shownotes Transcript

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to build a brighter future together. The lineup is unmatched. The audience is handpicked for impact and the energy is really anything but business as usual. Applications are officially open right now and I wouldn't want you to miss your chance. So please apply now at mastersofscale.com slash apply25. It seems like a puzzle and I wanted to figure it out and I wanted to be good at it.

Christina Cassioppo's love of puzzle solving is central to her approach as an entrepreneur. She's the founder of Tech Unicorn now, but her first business puzzle was a bit more humble as a kid growing up in Ohio.

When I had multiple Beanie Babies, I tried to sell them on eBay and then ride my bike to Kroger, which is our local grocery chain, and also get money orders and cash in money orders because I didn't have a credit card. And I remember when PayPal came out and you got like $25 if you signed up. But I couldn't sign up because I was 12 or something, 13. I never got that $25 from PayPal. ♪

Christina's Beanie Baby business never quite took off. But now, her B2B SaaS company Vanta has grown to a valuation of about $2.5 billion.

It's a trust management platform that focuses on digital security and compliance. And if that sounds a little bit complicated, well, it's because it sort of seems to be. But in reality, Vanta takes a complex, clunky part of running a business off the shoulders of other entrepreneurs. On today's episode, Christina shares lessons that she's learned as the founder of a hyperscaling company with more than 10,000 B2B customers.

We haven't made it just how you do it.

This is Masters of Scale. Christina Cassioppo is refreshingly honest about the unglamorous work she went through before finding the winning idea for her company, Vanta. We started by talking about her first job out of school at the legendary venture capital firm, Union Square Ventures, and what it taught her about startups. Christina, welcome to Masters of Scale.

Thank you so much for having me. You went off to Stanford for college and graduate school, and then you chose to go to a venture firm. Yeah. Why? That was dumb luck. It was less of a choice. I think coming out of Stanford when I did kind of late 2000s,

VC was not something you did out of school. I just got really lucky. And the folks at Union Square Ventures in New York had written a blog post saying, hey, we want to hire someone if you're interested, like fill out this form, basically. And, you know, I mean, I respect a ton of things about those partners in that firm. And one of them is they like they build their firm off the Internet. They hire off the Internet. They do not hire off of kind of personal networks or anything. But I first read that post and was like, well, that's crazy. Who's going to get that job? Right.

Why did you have that reaction? Who hires like that? Especially a VC firm, right? Like, you know, and it just didn't seem real almost. Or it seemed like the person who got that job was going to be perfect in all these ways I was not. But I kind of kept thinking about it. And it was on a two-week application period. And, you know, literally on day 14, I was just like, well, what's the worst thing that's going to happen? Like, everything will continue as it is.

And so I filled out the form and I ended up getting the job. Why wasn't VC a thing that you would do straight out of school? VCs are supposed to provide advice and experience, both in making investment decisions and then also helping the companies. And like when you're 22, advice and experience usually aren't your comparative advantage to the workforce, let's say. Right. But they wanted someone with your background, with your insight, because what were they looking for at the time? Yeah. Yeah.

I think it was, they talked, it's funny now because it feels so kludgy, but at the time it was internet native was the term. Yeah. Right? But it was kind of someone who grew up on the internet, quote unquote. And when I knew, especially because this was, again, late 2000s, early 2010s, a lot of consumer social, a lot of new mobile apps. And so it was like looking for early adopters than people who were, you know, would say,

Oh, you know, Foursquare, do I think that's weird because I'm just sharing my location, broadcasting my location to strangers? Right. Or is that great and how I'm going to like make new friends? And they were like looking for people who gravitated to the latter because they thought that would kind of push their investment thinking and help them figure out what would be next. What did you learn at Union Square Ventures?

I think they're good at a lot of things. They are very, very like market and idea driven. And, you know, like all investment theses, sometimes it works, sometimes it doesn't. But I think their like fundamental worldview to me was if an entrepreneur finds the right market, they will win. And I think it's different than other firms, which are more like, oh, no, it doesn't matter the market. It's all about the person, kind of the great person theory of investing. Right.

And a little bit, like, wackier the better. You know, Contrarians kind of overused, but I think they did really like things that seemed dumb. The what starts as a toy becomes serious. You know, the Twitter investment in 2006.

It was a great example of that. Yeah. Why? I mean, 2006, just to situate it, right? Friendster had come. MySpace was on the rise. Facebook was just becoming a thing, right? Was still at universities. It felt like there was a wave coming. Why was Twitter sort of a bad investment at that time? Because it was like, what's different about it, right? You can post

post 140 characters on Facebook and you can do more. So why does slimming this thing, you know, why would slimming Facebook down and then not really having a user base somehow succeed? And yet it did, right? Yeah. It makes success, but yes. Yes, with ups and downs. Yes, absolutely. Absolutely. So, okay. So you spent a few years at USV and why did you leave?

I wanted to build things. I both loved the parts of the job that were smart people would come in and you could ask them lots of questions and they would like politely tell you everything they knew. And then you could go email more smart people and like it just kind of felt like a racket and it felt wonderful. And I really liked those parts. But then kind of after those conversations, I'd like...

you know, go back to my desk and write an email about it. And it just felt sort of unfulfilling. I wanted to, you know, if I could have believed in one of those ideas rather than like writing the email to advocate for the investment or whatever, I wanted to go work on it. And I

And I think I had a bit of, you know, back to the generally folks don't, VC is not someone's first job out of school. I think I had a bit of like, well, why would someone take money from me versus Fred Wilson versus Matt Kohler at the time, right? If you want someone who has like earlier career but exceedingly accomplished. And so I kind of felt like, well, I think I want to go try to build something. And again, if I were pitching, I wouldn't want to take money from me. I would want money from Fred.

So that also doesn't seem like a great path as shiny and as, you know, many people kind of seem like they want to do it. It didn't feel right for me. So a lot of people in that situation, when they sit down to write the email, would have that, you know what, F it. This is what I want to go do. I'm going to email the CEO instead of email Fred and say, you should hire me. Right. That's not what you did. No, I.

I think the other part of it was like I wanted to learn to build products. Like everything was so product-centric because it should be. And I had like a little bit of a programming background, but not really. Like I couldn't go make a website or an iPhone app. And I think to the puzzle piece, like I wanted to figure that out and wanted to prove to myself I could do that. So what I did was I took my bonus...

basically lived off of it for two years. So that was kind of my grad student living and taught myself to code. How'd you teach yourself to code? The internet. I grabbed a desk at a friend's company. And so I would wake up every day and go to work. And I would like go to his company and like sit with his engineers and they would be doing their like work for the company. And I would like be doing my little blog tutorial. Oh, wow. But it was kind of this sort of fake structure. Like I, again, I went to work five days a week. I like got up in the morning and I did

that and sort of acted like I had a job, even though I did not have a paycheck. And that structure is actually really helpful because you wake up in the morning, you know, and you're like, what do you do? And you're like, well, clearly you go to work. That's what one does. Yeah. And I think there's a lot to be learned from constructing a structure, right? Like building the routine, building the ritualizing of it all. Yeah.

And it must have helped to be sitting with people who were coding professionally. It was very helpful. But when I would ask something, you'd get someone who's like, oh, I remember how to do that. Like, let me sit down and show you. And it was very nice. Amazing. I mean, so it really was like you were funding grad school with this bonus. And grad school just happened to be a desk at a friend's office. Yes. Okay. So you spent a couple of years doing this and you don't go start a company. Don't go start a company, which is upsetting. Why not?

Because nothing I was working on was worth starting a company for. And I was both like really, you know, you're like frustrated by this. And I think, again, at USV, I'd seen...

That actually starting the company isn't the hard part. That's, you know, shockingly easy. The hard part is like in year four when it's not really working, but you've raised this money and you have employees and you're still doing it. And like, maybe you don't want to, but you're not really saying that out loud yet. And like that. And that's actually kind of the median case. And I think the downside, the downside isn't the thing becomes a crater in the earth and just ends. Like then it ends and you can move on. It's sort of that slog. Yeah.

And so I didn't want to work on something that I wasn't really convicted in. It took several years, a stint at Dropbox, and a laundry list of misfires before Christina found an idea interesting enough to build into her own company.

I think we built a couple things that just no one wanted and then realized, hey, we're going about this wrong. We're building products and then running around and asking who wants them, which is generally very hard to do well and certainly something I've never succeeded at in my whole career of building things. So what we started doing was we said, hey, no more coding, no more building. You just go talk to people and talk to enough people until they...

start to say the same thing and you find a person with a problem. It's a catchphrase. And so I started talking to people in security because security just, it seemed interesting. It seemed important. It seemed big. And kind of to your point, like I was really lucky and I could kind of go explore ideas. And if they didn't work, I could probably get a job somewhere. And

And some of the thinking was like, would I want a job in security? I don't know. That seems kind of interesting. But like, let's go figure that out. And basically through that process landed on the idea for Vanta and of using compliance.

as a carrot to get a company to start building out their security program early. Yeah. It's really interesting. I mean, you all took the approach of really going out and just talking to prospective customers and trying to understand before you built a product, was their product market fit? Right. Where was it best with the biggest total addressable market and where you felt called to it? Yes. That's exactly it. And so was there an inflection point? Was there a moment where the lightning struck and you said, this is what we need to go build? Yes.

and no. No, and I think it was like a gradual process over three or four months of just building confidence incrementally. And when I say that it sounds like it was better every day, it wasn't, right? Like there were ups and downs in that, but the arc over three or four months was upward. And I think there was a moment when

Basically, word of mouth got out that we were working on compliance. And we got this email from somebody that roughly said, hey, I really don't understand why you're working on compliance. That sounds like the most boring thing. We should get a drink and talk about your life choices. And by the way, my friend's company needs this. So you should do it for them, but then you should probably figure out what you're doing with your life. Mm-hmm.

And it was this kind of funny email because I should be offended. But no, right? Like somehow this person had heard about what we were doing, thought we were kind of off, but also directly needed it. And again, this was all word of mouth. Well, we were just kind of fumbling around with startup ideas. And so there was something there that like that felt like market pull or there's something there that again never happened and all the other things I had built. Okay. And so just in a nutshell, what does Vanta do?

Vanta helps companies build out their security programs, demonstrate compliance, and manage risk. And the demonstrating of compliance and managing risk before Vanta was largely a manual process. Super manual process. So that's why a lot of companies didn't go through it. But it was spreadsheets, screenshots, tens of hours with engineers sitting with accountants going through like cloud infrastructure accounts to give the accountants confidence to

the company's security was set up well and they could issue this report that then all the other customers would trust.

And so it was this kind of very valuable exercise, but it just, it was so costly in terms of engineer time that companies would rarely go through it. Yeah. And the lawyers are then freaking out. Yes. Right. So as you hit on this, it sounds like both a simple and complex problem to solve. Yeah. I think that's fair. Yeah. Why is that right? I think on the simple side, it sounds kind of obvious. You say, okay, well, the company's security program is probably already in engineering systems.

The way we kind of demonstrate that security via these audits and attestations is really manual, but then the report at the end is very valuable. I think these regulations are complex and nuanced. They're actually full of gray, and the gray is kind of purposeful so companies can figure out what's best for themselves. But I think that ambiguity led lots of folks to look at it and say, oh, you can't automate that because what are you automating, right? You're automating this

kind of fuzzy regulation and we looked at it and said, hey, for a set of companies that are just starting out, best practices actually get them really far. If you make sure that the company is fulfilling all the regulations with best practices and get them to implement them, the company is more secure and

The process of, you know, kind of generating all the documentation you need is automated and you can actually cut out a lot of time and cost and they can get this report that's then very helpful for their customers and building trust. And my lawyer brain goes immediately to, oh, great. Okay, but are you then taking the liability if we get it wrong because we're using your software? Was that something that came up and you had to deal with or...

Not really, because the way the standards body is, the AICPA, the ISO standards body, write the rules, is the auditors audit what the company gives them. And so it's the company's responsibility to provide the information. The auditors just look

Okay, so you're effectively providing the structure and process for the company to put the data into. Exactly. Okay, got it. Market by market, I assume there were different compliance requirements, right? It's different in a highly regulated industry like banking or pharmaceuticals than it is in, you know, I don't know, a way, a luggage business. That's true. And we started with SOC 2, S-O-C 2, which was the closest thing that existed at the time to like a default system.

business software standard. It's not a law. It's more of like a de facto standard. But that seemed like the first thing companies get. So the first thing we started with. Okay. And you're not a lawyer. Not a lawyer. How do you become an expert on SOC 2 as you are an entrepreneur with a background in venture and coding now and being a product manager? Yes.

Sitting down and learning a lot about it, talking to a ton of people, reading the regulations, reading the regulations with people who know a lot more than I do, asking a lot of dumb questions. Early on, I did look into getting my CPA. It was like basically an eight-year journey, and I decided I had enough school at that point. I guess I could have had it now if I had started then. So I didn't do that. But I tried to do kind of everything but go and do that.

Still ahead, how Christina built Vanta into a tech unicorn and what she's learned about scaling along the way. The Lobatical is for any employees who have been with us for five years to take a vacation. They get a week of extra PTO. They get to pick anywhere in the world that they want to travel and we allow that to happen for them.

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Hey folks, Jeff Berman here. If your business is driving innovation, delivering exceptional experiences, or making a real impact on society, or maybe all three, we want you to apply for the Masters of Scale Business Awards. These awards celebrate bold organizations of all sizes and across all industries. Award recipients don't just get a trophy, although yes, there are trophies.

They get a spotlight at the Masters of Scale Summit and a seat at the table with the very best in business. Don't wait. Head to mastersofscale.com slash business awards dash apply. That's mastersofscale.com slash business awards dash apply. Welcome back to Masters of Scale. You can find this conversation and more on our YouTube channel.

I love SaaS. SaaS is a fascinating business model, right? It's also really simple, ultimately, when you get to committed monthly or annual recurring revenue, and you can start upselling clients. Your predictability in your business is just an incredible thing. It's also not something everyone intuitively gets. So two questions on that. One, as you're building a team, how do you recruit people in to come do...

which there may be some sexier things going on in Silicon Valley. And then two, where did you go find investors to support the business? Yeah.

Yeah, so on team building, we did have a lot of, you're working on compliance, you like that. And I think what we'd say is it's actually much more interesting than I expected. Even for me, you know, you get to touch all parts of a company and learn about them from their cloud infrastructure to how they hire people to all the SaaS applications or like software companies using. It's just actually a very broad domain. And so to me, there's lots of kind of interesting problems in it.

And it's actually much more expansive than just doing task management software or document collaboration software. So there was some of that. And then honestly, I think the other part was...

We had such strong market fit, not because our product was amazing per se or was amazing in that it let our customers achieve something they basically couldn't achieve on their own. And they were so appreciative and grateful because compliance does sit in this intersection of something you might need to do or really feel like you need to and something you don't want to do. One thing I found is like when you offer compliance,

a service or a product in that intersection, customers tend to be so grateful. Yeah. And more grateful than your product might justify at that point. But again, you're like getting them to something they couldn't do on their own. And so I think it was just, there was a lot of market pull, there was a lot of traction, and then our users were just so happy with us. Yeah. In a way where objectively, I kind of didn't think they should, or our product wasn't that good yet.

which was true in lots of UI and UX and the website could be better and buggy and all of that, you know, it was painfully true. But like it got them the outcome. You were also solving a real problem. And, you know, done was better than perfect at that point, right? And obviously you're not done, you're iterating. It feels like you were kind of selling a new kind of product, something that your customers hadn't seen before. What is it like building the sales channels for a product that is really new to market?

Yeah, I think we got lucky in that because it was strange in basically, again, the way you would get one of these certifications before a Vanta. Generally, you'd approach an accounting firm that has an IT audit practice and you talk to accountants.

and work with them. And, you know, we were clearly not accountants. We were tech people. And where we first really had go-to-market success was selling to engineers and heads of engineering. And one of our early customers described us as like a babblefish, a translator, between engineering and audit. And I think there was something kind of deeply true there, where our pitch to an engineer was like, hey, you want to go through this? You can go talk to an accountant or you can talk to some engineers. Like, which do you want? And that kind of took us pretty far. Yeah.

And then over time, we've gotten much savvier and smarter with compliance people and security people and just different personas within the company. And you were tapping into pre-existing IT budgets. Is that where the money was coming from or was it coming from elsewhere? Mostly pre-existing IT budgets, although honestly, a lot of our early customers just didn't have budgets because they were startups growing themselves. Right. Okay. So...

you came to this vision for compliance software... Summer 17. Okay. And you had a co-founder. Yes. Just take us through the scaling journey. So did you raise capital in 2017? We raised a very, very small amount, just a couple hundred thousand dollars. Okay. We actually didn't want to raise very much because, again, we didn't know what we were working on. And it felt like having...

Infinite money and infinite runway was actually not a helpful thing when you needed to figure out what you were doing. Sometimes constraints are helpful. Yes. Yeah. But when we had confidence in the idea, had an early product, had a couple customers lined up, we went through Y Combinator, Silicon Valley accelerator program.

And then it was sort of off to the races, which meant trying to hire both engineers. And actually, our first hire was a compliance expert to make sure we kind of did what it says on the tin and, you know, fulfilled what we were telling customers we would do.

And that was a lot of 2018. And so having been in through that 10 to 75 engineer journey at Dropbox, what did you learn from your time at Dropbox that you deployed as you were growing Vanta? Yeah, well, I think in the early days, actually, it was a bunch of counter lessons, I think. At Dropbox, it was like, oh, we know all of these people. We've worked with them. Like, of course, they'll come work with us again. And then...

The answer is yes, but no. By which I mean people hopefully liked us or would work with us. But you were asking someone, hey, you have this career path at the Silicon Valley company. You have this mortgage. You have this annual bonus. Like, do you want to make one third of that amount and like sit in a room with us and see if this will work?

It was like a very tough pitch. Yeah. And so I think actually there was some kind of misstarts in recruiting in the early days just because we were going after a profile that wasn't fit for a super, super early stage startup. Mm-hmm.

It taught me viscerally when people talk about stage appropriateness, what that means. And I think our first engineers who are all kind of wonderful and lovely and so talented were much more people who are like up for a ride. And like the ride might be the world's most exciting roller coaster or it might be a golf cart around the parking lot. You know, people want the roller coaster, not the parking lot. But they were up for either. Yeah. Did that become one of your big hiring filters? Yeah.

Yes. Yeah. And so how would you suss out whether they were up for the uncertainty of is this a roller coaster or a rocket ship or a golf cart in a parking lot? Yeah, I don't think we were very good at it then, honestly. I think we've gotten better at it over time. And the way we do it is actually just...

The questions, the exercises in our interview process are all sort of ripped from the headlines. Like they are just real things we are thinking through. And I think repeatedly through the interview process, trying to be very direct and transparent about what we're struggling to do and what it is like to work at Vanta in a way that I think sometimes surprises candidates because they'll say, you know, you're telling me a lot or like, wow, you have a lot of problems. Yeah.

And the answer is kind of yes, but these are the things we're working through and you can learn about them now and opt in or opt out, or you can not know about them and then accept the job and then be very surprised later. And so I think it's just kind of setting up these interview processes such that people mostly aren't surprised in their first day, week, month. How'd you build out your leadership team and how do you lead? It's funny when Vanta was about 20 people, this was just before the pandemic, um,

seed investor said I should start building my leadership team. And I literally laughed at him because it just felt so, it felt like playing startup. You're like, what do you mean a leadership team? Where it's like 20 people just scrapping things together. Leadership teams are things big companies have. And so I sort of, you know, laughed until we were about 50 people and then hit a moment where it was like, oh my gosh, now I feel like there's, you know, we need, we need kind of a leadership team in so many places and I'm so behind the ball here.

And so I think on that, my advice actually to my prior self was like, even though it sounded hilarious, if you are growing and you feel like your product market fits, start at 20 such that you don't have to start later when everything is kind of even more chaotic. How big is the company now, people-wise? About 700 people. That's a lot of people. It's a lot of people. How do you manage a 700-person remote forward workforce? Still figuring it out. I think we do... I don't know, great, but I think...

So mission, company and product vision, principles, which are sort of our values, and what we call strategic initiatives. But like the four big things for the company, we just repeat constantly. It is a little, you know, I don't know, strange to me. And you're like, I just said this yesterday. Do I need to say it again? But the answer is yes, and it works.

It's amazing, actually. This is Jeff Wiener who famously said, like, you have to keep singing until you start hearing it back. Yeah, it is as simple as it sounds. Yeah. 20 to 705 years is a lot of growth. Was there a point at which you were hiring dozens of people a month? Like, was there a point where you were just in that hyper growth phase? When was that and what was that like? It was a bit in the...

second half of 2021. And it was chaotic. And I think, yeah, you would see these companies, what do we do, 50 to 150 that year probably, so tripled. And you'd have these onboarding classes of, you know, at the time like 15 people, 20 people, and they felt so huge. And I think it was this moment of like, we're going to try really hard to onboard these folks and teach them what Vanta is and does. And it's not going to go as well as we want it to. And we'll try to pick up the pieces. But

Again, you're on the roller coaster and it is going and you're hanging on and you're trying your hardest. But I think also the sense of like, oh, this isn't going to, it's not going to work as well as we want it to. Yeah. Christina, as we sit here in the first half of 2025, we're all but required to talk about AI. I know Vanta has implemented AI into its products. I want to hear about that. I also would love to hear about how you think about AI as competition, because what you do sounds perfectly suited for artificial intelligence. I think it kind

think it kind of is or like a lot of what these compliance workflows are taking information in one format and putting it in another so taking a policy document and turning it in engineering config engineering config into a rule that's followed basically you know turning all of this into like a format an auditor wants to see it in or a customer but I kind of think that's great for Vanta you know we have 10,000 customers

We have a deep understanding of these primitives and the data. And so this stuff should get turned into AI, but we should be the ones that do it. Or we should ask ourselves very serious questions about why it wasn't us. How are you implementing AI right now? Yeah.

So we have a good portion of the engineering team that both kind of builds internal tools for all of our engineers to go and work with AI and build kind of eval and model quality. And then each product team and engineer on the product team are like taking those tools and

and then using them in their area of the product and building things out there. Yeah. One of the hallmarks of successful SaaS companies is they keep adding new features and products so that the recurring revenue from clients is going up each year as they're saying, oh, yes, I'd like that too. How are you thinking about that as you bring new features and products to market? Yeah, we think about it a lot. So we've moved from where we started of automated compliance to what we now call trust management, right?

which is a broader expanse of, we'll have the automated compliance pieces, we'll have workflows for security around the people in a company, the assets, so the laptops, cloud servers, et cetera, the data in a company, and then the vendors as well. But basically it's a broader sense of

Okay, there's compliance workflows, but again, it's such a horizontal area. It touches the security of so many pieces. And so we started to start and we'll continue to build out products there for our customers. Are you enjoying the 700 person phase of Anta? I am. I do think it is a useful founder skill to convince yourself you like each phase. But I also think, again, that to the problem solving piece, it's just new problems and different problems.

And every day is different still. And I just really like that. So you said 10,000 clients? Yes. Where does the company go from here?

It's funny, when we started this, people didn't think the market was very big. I mean, kind of including us, because there just weren't that many SOC 2s done. And it turns out if you make something that is compelling, easier to achieve, more people will achieve it. And so I think that sort of cracked the compliance market open. And then what we found is, again, this was sort of the thesis of the company, but it's become true is compliance is this like great wedge and all of these other security processes in the company.

And so it does really feel like there's kind of the hard parts of Vantage. It's like, hey, there's so much opportunity. There's so many adjacencies. Which do we choose in which order versus, you know, oh, we just do this one niche thing. It's almost the opposite. I think we can really build a way for companies to help others.

understand and improve their security and do that hard work and then tie it to revenue and customers so they get credit with the market for all of that hard security work they've done. Which I do think is different than a lot of security companies, which are more risk-based or fear-based in their approaches. We're much more, you know, how do we tie this to what customers want to revenue growth such that you can invest more in security? Yeah. Do you think about going public? Not often.

How do you think about evolving the company, ultimately providing an exit for your investors? What's your vision? Yeah, the goal very much is to build a long-term, sustainable, independent company. And so going public is basically the path for that, for all but a very small handful of software companies. But I think one thing I've deeply learned and saw at Unisquare Ventures, as a couple of companies IPO'd when I was there, was

you know, folks talk about the IPO as an exit and it is for the investors, but the company still exists after that. Like you're still doing everything you're doing just almost on harder mode after. And so kind of like, I don't like orienting around financing. So I don't really like orienting around financing.

in IPO because it's a day that sounds like it's like really fun with lots of confetti. And then you get up the next day and still do your job, right? It's like intermediate milestone versus the finish line. Yeah. So anyway, all to say, goal is very much long run sustainable company, perhaps an IPO in the future. But I think it's a milestone, not an end marker. Responsibilities like compliance and security may not be the shiniest parts of running a business, but they are mission critical to success.

As Vanta continues its meteoric rise, there is little doubt that Christina and her team will keep finding innovative ways to solve problems in this space. Her approach is a valuable reminder to face challenges with curiosity and determination, and that others will reward you if you do. I'm Jeff Berman. Thank you for listening.

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