SafeBase AI Security Reviews: SafeBase Secures $33M in Series B Funding to Revolutionize Software Security
SafeBase is a cybersecurity startup co-founded by Al Yang and Adar Arnon. It has productively raised $33 million in a Series B funding round. The company was incubated in Y Combinator’s accelerator program. It has developed an advanced solution to automate software security reviews using artificial intelligence.
SafeBase’s policy works with AI models specifically trained on security documentation use cases. These models can read and understand security information and questions. Then, they automatically respond to security questionnaires. This mechanization meaningfully reduces the time and effort required for security reviews, which are typically a lengthy and complex process.
The funding round was led by Touring Capital and saw participation from strategic investor Zoom Ventures, NEA, Y Combinator, Comcast Ventures, and Cerca Partners. The funds will be used to improve SafeBase’s industry-leading security platform, allowing organizations to build meaningful, sustainable customer trust.
Despite race in the market, SafeBase has managed to secure a strong customer base, including Palantir, LinkedIn, Asana, and Instacart. The company has seen enormous growth in recent years and continues to gain increased visibility across its vendor network.
SafeBase’s platform is intended to streamline the security review process for security, governance, risk, compliance, and revenue teams. Despite competition from other vendors like Conveyor, Kintent, and Quilt, SafeBase claims a customer base of over 700 companies, including Palantir, LinkedIn, Asana, and Instacart.
The company’s platform uses AI models trained specifically on security documentation use cases to mechanize the process of reading, understanding, and responding to security questionnaires. This mechanization is aimed at saving time and reducing the burden of the often cumbersome security review process.
SafeBase functions by increasing how software purchasers conduct risk assessments of vendors, aiming to reorganize these essential security reviews. Conventionally, these processes have been burdensome, creating delays and corroding trust between buyers and vendors. SafeBase’s platform provides a unified and automatic approach to managing trust, ensuring transparency and efficiency.
The newly acquired funds will be used to further develop SafeBase’s Trust Center Platform across the trust ecosystem. This development will allow SafeBase to continue its mission of transforming the cybersecurity industry, providing organizations with a more efficient and effective way to conduct software security reviews.
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