Entrepreneurs Al Yang and Adar Arnon recently raised $33 million in a Series B round for their cybersecurity startup, SafeBase. The company, which was accepted into Y Combinator’s accelerator program during the pandemic, helps customers fill out security questionnaires before purchasing new software.
Security questionnaires can be time-consuming and tedious, but SafeBase aims to streamline the process through automation and AI. The company uses AI models trained specifically for security documentation to read and interpret security information and automatically respond to questionnaires.
Now, I’m usually a cynic when it comes to AI, but Arnon claims that SafeBase’s models are accurate and provide greater answer coverage. Well, I guess we’ll have to take his word for it.
In addition to its AI capabilities, SafeBase offers an engine for assigning rules-based behavior for customer access and provides dashboards for insights and analytics on a company’s security posture.
While SafeBase is not the only player in this space, with rivals like Conveyor, Kintent, and Quilt offering similar automation tools, Arnon doesn’t seem too worried. Perhaps that’s because SafeBase has an impressive customer roster, including Palantir, LinkedIn, Asana, and Instacart.
According to Arnon, SafeBase has experienced significant growth in recent years, with customers loving the product and adoption accelerating. The company’s visibility across its vendor network has also increased as more high-volume customers launch trust centers that eliminate the need for manual security reviews.
With the new funding, SafeBase plans to expand its team and continue its growth trajectory. The round saw participation from strategic investor Zoom Ventures, as well as NEA, Comcast Ventures, and Cerca Partners.
It’s impressive to see a startup like SafeBase thriving in the cybersecurity space, where the demand for improved security processes is non-negotiable. As technology continues to advance, businesses must prioritize security, and SafeBase is here to help them navigate the complex landscape.
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