SafeBase Secures $33 Million in Series B Funding Round
SAN FRANCISCO, April 30, 2024–(BUSINESS WIRE)–SafeBase, the leading Trust Center Platform for friction-free security reviews, announced today that it has raised $33 million in a Series B funding round. The investment, led by Touring Capital with participation from Zoom Ventures and other investors, brings SafeBase’s total funding to over $50 million.
As software purchasers are increasingly required to conduct detailed risk assessments of vendors, SafeBase aims to provide a solution that simplifies the security review process. The company’s Trust Center Platform, trusted by companies like Abnormal Security, Amplitude, and LinkedIn, offers a centralized and automated approach to building customer trust.
Jim Alkove, former Chief Trust Officer at Salesforce, commented on the need for a more efficient security review process, stating, “Today’s approach to buyer security reviews is broken. It’s time we say goodbye to security through obscurity and make it easier for buyers to understand a prospective vendor’s security and trust posture without having to jump through hoops.”
SafeBase CEO, Al Yang, expressed excitement about the investment and the company’s vision to transform the future of third-party risk assessments. The Series B funding comes after a period of rapid growth for SafeBase in 2023, with exponential revenue growth and a growing customer base.
Priya Saiprasad, Co-Founder and General Partner at Touring Capital, praised SafeBase for leading the trust center market and reshaping how businesses showcase their security posture. The SafeBase Trust Center Platform aims to streamline communication of security and trust posture while automating access to important security documents.
SafeBase’s flagship Trust Center and AI Questionnaire Assistance products aim to simplify the security review process, reduce the need for lengthy questionnaires, and enhance the overall buyer experience. The company’s goal is to position security as a revenue enabler and drive success for their clients.
To learn more about SafeBase and their Series B investment, visit safebase.io.
