Total amount raised
$53.1 Million
Latest funding date
4/1/2024
Location
SafeBase has successfully raised funding over five rounds, with the latest being a Series B round. The company is backed by 15 investors, including Cerca Partners, Comcast Ventures, Alumni Ventures, and Touring Capital.
SafeBase's platform offers a Trust Center and AI Questionnaire Assistance to streamline security reviews and build customer trust. Keep reading to explore the intricacies of SafeBase's fundraising journey and the investors backing this innovative platform.
What Is SafeBase?
SafeBase, based in San Francisco, California, operates in the fields of cloud security, cyber security, network security, and sales automation. The company has a workforce of 51-100 employees and has been acquired by Drata.
SafeBase is a trust center platform designed to facilitate friction-free security reviews. It aims to change how companies communicate their security and trust posture, offering features like AI Questionnaire Assistance and integrations with various tools to streamline the security review process.
How Much Funding Has SafeBase Raised?
- Series B
- Amount Raised: USD 33,000,000
- Date: April 2024
- Lead Investors: Alumni Ventures, Touring Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance SafeBase's platform and AI-powered technology, streamline security reviews, and improve third-party risk assessments.
- Series A
- Amount Raised: USD 18,000,000
- Date: March 2022
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support company growth and product development.
- Seed
- Amount Raised: USD 2,000,000
- Date: August 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial product development.
- Seed
- Amount Raised: USD 125,000
- Date: August 2020
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and market entry.
Total Amount Raised: USD 53,125,000. Current Valuation: Not publicly disclosed.
Key Investors
- Alumni Ventures
- Details: Alumni Ventures is a venture capital firm that invests in early-stage and growth-stage companies. They have a broad investment portfolio across various sectors.
- Investment Focus Areas: Technology, healthcare, consumer products
- Notable Investments: SpaceX, Robinhood, Airbnb
- Touring Capital
- Details: Touring Capital is a venture capital firm that focuses on technology-driven companies. They are known for their investments in innovative software and IT sectors.
- Investment Focus Areas: Software, IT, security
- Notable Investments: Zoom, Slack, Dropbox
- New Enterprise Associates (NEA)
- Details: NEA is a global venture capital firm that invests in technology and healthcare sectors. They support companies at various stages of growth.
- Investment Focus Areas: Technology, healthcare, consumer services
- Notable Investments: Uber, Coursera, 23andMe
- Y Combinator
- Details: Y Combinator is a startup accelerator that provides seed funding and support to early-stage startups. They have a strong track record of successful investments.
- Investment Focus Areas: Technology, consumer products, healthcare
- Notable Investments: Dropbox, Airbnb, Stripe
- Comcast Ventures
- Details: Comcast Ventures is the venture capital arm of Comcast Corporation. They invest in technology, media, and telecommunications companies.
- Investment Focus Areas: Technology, media, telecommunications
- Notable Investments: FanDuel, Nextdoor, Vox Media
What's Next for SafeBase?
SafeBase stands at the cusp of significant growth opportunities, driven by its innovative Trust Center Platform. With a customer base of over 700 and a 98% retention rate, the company is poised to expand its influence in the security review industry. The recent $33 million Series B funding will enable SafeBase to enhance its platform, streamline security reviews, and build sustainable customer trust.
Future fundraising opportunities seem promising as the company continues to attract high-profile investors and strategic partners. The rapid growth and successful funding rounds suggest that SafeBase may pursue additional investments to further develop its platform and market reach. However, challenges such as maintaining high customer retention rates and staying ahead of competitors in a rapidly evolving cybersecurity landscape will require continuous innovation and strategic planning.
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