Despite competition from other vendors like Conveyor, Kintent, and Quilt, SafeBase boasts a customer base of over 700 companies, including Palantir, LinkedIn, Asana, and Instacart. The San Francisco-based company, which currently has 55 employees, plans to use a significant portion of the new funding to expand its team. The Series B round also saw participation from Zoom Ventures, NEA, Y Combinator, Comcast Ventures, and Cerca Partners, bringing SafeBase's total funding to over $50 million.
Key takeaways:
- SafeBase, a cybersecurity company started by Al Yang and Adar Arnon, has raised $33 million in a Series B round led by Touring Capital.
- The company uses AI models to automate the process of filling out security questionnaires, a task that can take weeks to months to complete for complex software.
- Despite competition from other vendors like Conveyor, Kintent, and Quilt, SafeBase boasts a customer roster of 700 companies, including Palantir, LinkedIn, Asana, and Instacart.
- SafeBase's total funding now exceeds $50 million, and a significant portion of the new funding will be used to expand the team.