SafeBase, a leading Trust Center Platform for friction-free security reviews, announced it has raised $33 million in a Series B funding round. This round, which brings the company’s total funding to over $50 million, was led by Touring Capital with Zoom Ventures participating. Existing investors NEA (New Enterprise Associates), Y Combinator, Comcast Ventures, and Cerca Partners joined the round, as did prominent cybersecurity executives, including former Salesforce Chief Trust Officer Jim Alkove.
With software purchasers increasingly required to perform detailed risk assessments of prospective vendors, they face a lot of pressure to show these vendors as safe and reliable business partners. These security reviews have been plagued by friction-filled processes that delay sales cycles and damage the trust between buyers and vendors.
SafeBase believes that security reviews should be better. The SafeBase Trust Center Platform delivers a centralized and automated approach to trust management. Some of the world’s most reviewed companies, such as Abnormal Security, Amplitude, Asana, Axonius, ClickUp, Datadog, Gigamon, GitLab, Jamf, LinkedIn, Plaid, Postman, and Ramp, utilize SafeBase Trust Centers to build and maintain customer trust.
The Series B funding round follows a period of rapid growth for SafeBase. Last year, SafeBase saw exponential revenue growth and now serves 700+ customers with 98% gross retention. The company launched many new products, including its AI-powered product designed to significantly reduce human time and error on security questionnaires.
For example, the SafeBase Trust Center Platform enables companies to communicate their security and trust posture while automating access to sensitive documents, company data, and other key security artifacts. And the company’s flagship Trust Center and AI Questionnaire Assistance products take the pain out of the challenging security review process by enabling security, GRC, and revenue teams to significantly reduce the need for time-consuming security questionnaires, deliver better buying experiences, accelerate sales velocity, and position security as a revenue enabler.
KEY QUOTES:
“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. We’re excited our investors are doubling down on our vision to create a world where security and third-party risk assessments are done in real-time with no friction. This investment will enable us to build out our platform across the trust ecosystem and transform the future of third-party risk.”
- Al Yang, CEO at SafeBase
“Security is no longer just a requirement — it’s a strategic imperative for success. Traditional security review processes often act as roadblocks, hindering customer transparency, delaying sales cycles, and compromising the buyer experience. SafeBase is not just reimagining the security review process; they are leading the trust center market with a product that has set a new industry standard. As the go-to platform for numerous high-profile companies, SafeBase is reshaping how businesses showcase their trust and security posture, akin to how LinkedIn serves as the definitive source for professional backgrounds. We’re excited to partner with SafeBase as they elevate their vision to unparalleled heights.”
- Priya Saiprasad, Co-Founder and General Partner at Touring Capital
