Drata, a leading Trust Management platform, announced it has entered into a definitive agreement to acquire SafeBase, the leading Trust Center solution for the enterprise. The deal is intended to integrate both companies’ shared vision of being the go-to trust layer between companies, driving seamless, transparent relationships with the most comprehensive Trust Management Platform. This deal is expected to close later this month.
The increase in market demand for a full stack Trust Management platform is driven by a perfect storm of increasing Cloud and AI dependency, stricter regulatory requirements like DORA, ISO 42001, and the EU AI Act, high profile breaches, and rising security risks. And maintaining customer trust through continuous compliance requires a scalable and adaptable approach to effectively address these challenges.
Drata’s acquisition of SafeBase is expected to enhance its ability to streamline security reviews and strengthen vendor risk management, all through AI-driven automation. And together, Drata and SafeBase will create a seamless ecosystem of trust, governance, risk, and compliance (GRC).
Since SafeBase’s founding in 2020 by CEO Al Yang and CTO Adar Arnon, 1,000+ organizations like OpenAI, Twilio, Crowdstrike, Hubspot, LinkedIn, T-Mobile, and one-third of the Cloud 100 have used its Trust Centers to drive about $15 billion in security-enabled revenue. And with SafeBase, organizations can build trust through transparency and reduce time spent on inbound security questionnaires by up to 98%. Drata’s meteoric growth in the past four years has also empowered thousands of organizations to radically transform compliance automation, vendor risk management, and modern GRC.
Cooley served as legal counsel to Drata, and Goodwin Procter served as legal counsel to Safebase.
KEY QUOTES:
“As a pioneer of the Trust Center category, SafeBase has always been committed to addressing and solving our customers’ needs through unmatched innovations in automation and AI. Joining Drata marks another milestone in that commitment, where two customer-obsessed companies with aligned missions and cultures work together to redefine what’s possible in Trust Management. This union cements our position as the leading solution for the enterprise.”
– Al Yang, Co-Founder and CEO of SafeBase
“Trust is now a competitive advantage that rests on a combination of speed and tangible proof, so there’s never been a more important time for organizations to prioritize compliance and vendor risk management, while eliminating the pain points within their GRC program. Together with SafeBase, we are empowering customers to continuously ensure and proactively communicate security, compliance and trust—with unrivaled market advantage.”
– Adam Markowitz, Drata Co-Founder and CEO
