SafeBase announced that it has raised $18 million in a Series A round led by global venture capital firm New Enterprise Associates (NEA), with participation from Y Combinator and Comcast Ventures, the corporate venture capital arm of Comcast Corporation.
SafeBase already has more than 100 customers, including Linkedin, Jamf and cybersecurity company, Snyk. The funding will be used to fuel growth and recruit talent.
SafeBase is designed to automate access and provide security and compliance information for industry standards such as GDPR, HIPAA compliance and SOC2.
“Security reviews are notorious for being disjointed and often complicated, which consequently leads to delayed sales cycles and implementations. SafeBase has developed a long-desired solution that streamlines and automates security reviews within a single platform, giving customers the confidence to make faster decisions for new technology. The product has already displayed impressive market traction, and we’re thrilled to partner with the SafeBase team as they continue to pioneer the future of vendor security for organisations globally,” said Hilarie Koplow-McAdams, Venture Partner, NEA.
In addition to security and compliance issues in the sales process, SafeBase also empowers business development and sales teams to streamline security and compliance processes for companies integrating third-party technology vendors.
