2024 Year in Review: Vanta and AssuranceLab’s remarkable partnership

Written by Paul Wenham | Dec 9, 2024 4:48:12 AM

In July 2024, Vanta and AssuranceLab rekindled their partnership, sparking a wave of collaboration that reshaped the compliance landscape across the Asia-Pacific region and beyond. Stevie’s visit to Australia in June highlighted the great synergies between our teams, setting the stage for extraordinary growth. In the months that followed, we’ve proven that together, we deliver unmatched value for our clients globally.

 

Expanding across nine countries

In just five months, our partnership scaled to over 80 new mutual clients across 9 countries: Japan, Thailand, Hong Kong, Canada, the US, Germany, Australia, Israel and New Zealand. This rapid expansion highlights the seamless fit between Vanta’s platform and AssuranceLab’s tech-enabled audit services.

 

Japan stood out as a highlight, where we quickly onboarded 3 new clients in two months; following it being cited as a strategic priority to Vanta. With a Japanese-speaking auditor on our team, we tailored our approach to meet local needs, setting the foundation for long-term success.

 

Our collaboration also expanded into EMEA, with early joint wins in Germany and Israel, supported by AssuranceLab’s growing presence in Europe, now with a team of seven across Ireland, Germany and France. This success sets the stage for scaling our impact across promising growth markets like the UK, Ireland, Germany, France and Israel.

 

Innovation: AI-powered audits with Lexi

This year, we launched an integration between AssuranceLab’s AI-powered audit tool, Lexi, and the Vanta platform. This enables audits to be completed in under 24 hours, with results seamlessly synced into Vanta’s evidence view for clients.

 

Our engineering teams worked closely to refine the functionality, delivering real-time value by processing client documents, running AI-powered models, and pushing results back to Vanta. This innovation has redefined compliance by providing clients with faster and more efficient audit solutions.

 

From 8th to 1st in partner rankings

When our partnership resumed, AssuranceLab ranked 8th (of 8) among Vanta’s strategic audit partners. By October, we climbed to:

  • 1st in Gross Dollar Retention (GDR), Net Revenue Retention (NRR) and Logo Retention.
  • 2nd in referrals, with 20 new clients referred in October.

Additionally, we closed 10 resale opportunities since August, becoming Vanta’s only CPA partner combining licenses with audit services. This innovative model simplifies sales for Vanta reps and creates stickier client relationships by bundling services while AssuranceLab assumes credit risk.

 

Client wins driving value

Our collaboration delivered standout results for clients, including:

  • Sanro Health: After receiving a high proposal from another partner, Sanro Health turned to AssuranceLab. We issued their Type 1 in just weeks, then expanded into HIPAA audits, demonstrating the perfect fit between Vanta and AssuranceLab with a great case study to prove it.
  • Taco Technologies: after initial struggles, our free AI-powered audit revealed a 73% pass rate with clear guidance on gaps, boosting ROI and renewing their Vanta license. They are now signed for SOC 2 and ISO 27001 with us and shared a raving review about our support in getting them to their compliance outcomes.
  • Josys: Switching from Scrut an Indian CPA firm, Josys sought a premium solution. Vanta + AssuranceLab delivered, offering a Japanese-speaking auditor, a seamless timezone match, and a free AI audit to confirm their compliance readiness post-transition to avoid surprises in future audits.

 

Events, events and more events! (Oh and some cool merch…!)

We also strengthened our presence through events like Intersekt in Melbourne, the Startup Daily Awards in Sydney, a webinar with Go1, and a joint press release to industry publications, showcasing how our partnership helps clients scale globally.

 

 

Looking ahead to 2025

The foundation laid in 2024 sets the stage for exciting opportunities in 2025:

  • Bootcamp initiative: Building on our successful Compliance Accelerator Program, this cohort-based program fosters collaboration and accountability among startups to drive faster compliance outcomes.
  • Enterprise implementation service: Tailored for large-scale enterprises, this new service will combine Vanta’s cutting-edge automation with AssuranceLab’s flexible audit expertise, targeting unicorns and larger organizations with complex needs.
  • Global Expansion: We’ll deepen our presence in Singapore, Japan, and EMEA while launching major initiatives in the US market, with announcements coming in January 2025.

With AssuranceLab now positioned as Vanta’s most innovative and client-focused audit partner, we’re just getting started. Our shared vision, innovative solutions and commitment to client success will drive even greater impact in 2025.

 

We’re grateful for the trust and collaboration of the Vanta team and look forward to scaling new heights together. Here’s to a bright future, delivering better compliance outcomes for clients worldwide! But before then, we hope you all have a great holiday season!