SafeBase Secures $33M for Trust Center Platform Development

SafeBase Inc., a Trust Center Platform startup, has raised $33 million in new funding to enhance its platform and artificial intelligence-powered technology that streamlines security reviews and third-party risk assessments. Founded in 2022, SafeBase aims to revolutionize the security review process by offering a friction-free experience for companies assessing their security and trust posture. The company's Trust Center Platform automates security reviews, addressing the challenges of demonstrating third-party vendor safety and reliability. SafeBase's transparent approach allows companies to build customer trust, gain insights, and elevate their security story. With a customer base exceeding 700 clients and a 98% gross retention rate, SafeBase has attracted notable customers such as Abnormal Security Corp., Amplitude Inc., and LinkedIn Corp. The Series B funding round was led by Touring Capital LLC, with participation from Zoom Venture LLC, NEA, Y Combinator, Comcast Ventures, Cerca Partners, and individual investors like former Salesforce Chief Trust Officer, Jim Alkove. SafeBase has raised a total of $53 million to date, positioning itself as a leader in the trust center market. CEO Al Yang expressed excitement about the investment, emphasizing the company's vision to revolutionize security and third-party risk assessments without friction. SafeBase's Trust Center Platform is set to transform the future of third-party risk management.