Total amount raised
$53.1 Millions
Latest funding date
Location
SafeBase has successfully raised multiple rounds of funding, culminating in its acquisition by Drata for $250 million. The platform offers a comprehensive Trust Center that streamlines security reviews and enhances customer trust.
Keep reading to explore the intricacies of SafeBase's fundraising journey and the investors backing this innovative platform.
What Is SafeBase?
Founded in January 2020, SafeBase is headquartered in San Francisco, California. The company was established by Adar Arnon, Al Yang, and Stan Chang.
SafeBase offers a Trust Center platform designed to streamline security reviews and enhance customer trust. The platform provides features like AI-powered questionnaire assistance, integrations, and analytics to help businesses manage their security and compliance information efficiently.
With a team of 51-100 employees, SafeBase continues to innovate in the field of security and compliance, making it easier for companies to communicate their security posture and build trust with their customers.
How Much Funding Has SafeBase Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of the Trust Center platform.
- Seed Round
- Amount Raised: $2.125M
- Date: August 2020
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the team.
- Series A
- Amount Raised: $18M
- Date: March 2022
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance platform features.
- Series A (Additional)
- Amount Raised: Not publicly disclosed
- Date: June 2023
- Lead Investors: Alumni Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and customer acquisition.
- Series B
- Amount Raised: $33M
- Date: April 2024
- Lead Investors: Touring Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform and expand its capabilities across the trust ecosystem.
Total Amount Raised: $53.125M. Current Valuation: Not publicly disclosed.
Key Investors
- Touring Capital
- Details: Touring Capital is a venture capital firm that focuses on investing in innovative startups. They led the Series B funding round for SafeBase.
- Investment Focus Areas: Technology, cybersecurity, innovative startups.
- Notable Investments: Not publicly disclosed.
- Zoom Ventures
- Details: Zoom Ventures is the investment arm of Zoom, focusing on strategic investments in technology and innovation. They participated as a strategic investor in SafeBase's Series B round.
- Investment Focus Areas: Technology, communication, innovation.
- Notable Investments: Not publicly disclosed.
- New Enterprise Associates (NEA)
- Details: NEA is one of the world's largest venture capital firms, with a broad focus on technology and healthcare. They have been an existing investor in SafeBase and participated in the Series B round.
- Investment Focus Areas: Technology, healthcare, various sectors.
- Notable Investments: Not publicly disclosed.
- Y Combinator
- Details: Y Combinator is a renowned startup accelerator that provides seed funding for early-stage startups. They have been an existing investor in SafeBase since the seed round.
- Investment Focus Areas: Early-stage startups, various sectors.
- Notable Investments: Airbnb, Dropbox, Stripe.
- Comcast Ventures
- Details: Comcast Ventures is the venture capital affiliate of Comcast Corporation, focusing on technology, media, and telecommunications. They have been an existing investor in SafeBase and participated in the Series B round.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Not publicly disclosed.
What's Next for SafeBase?
SafeBase stands at the cusp of significant growth, driven by the increasing demand for transparent and efficient security reviews. With over 700 customers and a 98% retention rate, the company is well-positioned to expand its Trust Center Platform and introduce new AI-powered solutions. The recent $33 million Series B funding will further enhance its capabilities, making it a key player in transforming third-party risk assessments.
Future fundraising opportunities seem promising as SafeBase continues to scale and innovate. However, challenges such as staying ahead of competitors and adapting to evolving security requirements remain. Maintaining high customer retention while expanding will be crucial for sustained success.
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