by Hilarie Koplow-McAdams, Vanessa Larco and Mustafa Neemuchwala
The wave of digital transformation has been active for almost two decades with elevated acceleration over the past two years. This increased velocity in cloud software adoption has exacerbated cybersecurity risk for companies as well. Managing the risk of cyber-attacks has become top of mind for not just security and compliance teams, but also executives and board members. Understandably, identifying risks is becoming a key part of software purchasing and technical integration decisions. Coupling this trend with the rise of diverse industry standards, certifications, and regulations, the vendor security review process has become excessively laborious.
We’ve heard from buyers, vendors, and partners how static, manual, opaque, time-consuming, and high-friction security review processes are with multi-departmental stakeholders. The processes include multiple back-and-forth email threads, attachments of reports and certifications, annotations and follow up calls to discuss different documents, extensive custom/unique security questionnaires, NDA requirements, etc. We believe this key point of friction needs to be solved to enable and accelerate digital transformation.
When we first came across SafeBase’s security portal, we were stunned by its simplicity and elegance in solving this pain point. We quickly met with co-founders Al & Adar, who deeply impressed us by the comprehensiveness of their vision for a single system that streamlines security reviews by:
Automating buyer-vendor exchanges, e.g., NDA provisioning or requests for documents
Holding stakeholders accountable through cross-team workflow visibility
Maintaining real-time status updates through integration with security & compliance tools
Empowering sales teams with productivity integrations and better visibility into pipeline
Keeping buyers informed of ongoing security status changes and updates
Today, we are excited to announce that NEA led SafeBase’s $18M Series A financing. SafeBase is rapidly becoming the standard for a Smart Trust Center, with an impressive, diverse, and rapidly growing list of customers including Instacart, LinkedIn, Modern Health, BigCommerce, ServiceTitan, Snyk, Abnormal Security, Vercel, Clickup, Mindbody, Attentive, and dozens of others. SafeBase has gained most of its customers through word-of-mouth and virality, as software evaluators see a partner’s SafeBase Security Portal, become enchanted by its elegance, and want one for themselves.
We are inspired by how SafeBase rewards companies of all sizes who believe in transparently maintaining good security and compliance practices given the dynamic world we live in. As security compliance vendor Vanta highlights, SafeBase is an integral way to turn compliance into a growth strategy.
We’re thrilled to partner with Al, Adar, Macy, and the rest of the SafeBase team on their journey to revolutionize security and compliance reviews for companies of all sizes, across industries, and around the world. Learn more about the team and vision here.