SafeBase: Revolutionizing Cybersecurity with AI
May 17, 2024

SafeBase: Revolutionizing Cybersecurity with AI

When Al Yang and Adar Arnon met at Harvard Business School, they discovered a shared passion for cybersecurity. This mutual interest quickly transformed into a mission: to bolster security processes in an increasingly vulnerable business environment.

“We’ve seen a dramatic shift in the business world, where security has become an absolute necessity,” Arnon shared with TechCrunch. “Today, security is non-negotiable for tech buyers.”

Fueled by their commitment to this cause, Yang and Arnon launched SafeBase, which found early support through Y Combinator’s accelerator program during the pandemic.

On Tuesday, SafeBase announced a significant milestone: securing $33 million in a Series B funding round led by Touring Capital. SafeBase specializes in automating the arduous process of filling out security questionnaires—a crucial step organizations must undertake before purchasing new software.

Completing these questionnaires is often a tedious task, taking teams weeks or even months for more complex software. However, Arnon emphasizes that SafeBase leverages automation and AI to dramatically reduce this time.

SafeBase’s AI models are uniquely designed to handle security documentation. These models can read and interpret security questions, then automatically generate responses. “[Our platform] eliminates the hassle of the security review process by empowering teams responsible for security, governance, risk, compliance, and revenue,” Arnon explained.

Skeptical about AI’s reliability? So was I. But Arnon assures us that SafeBase’s use of both large and small language models ensures superior accuracy and comprehensive coverage.

In addition to its custom AI models, SafeBase offers an engine for assigning “rules-based behavior” for customer access, alongside dashboards that provide insights and analytics on a company’s security posture.

Despite competition from other vendors like Conveyor, Kintent, and Quilt, Arnon remains confident. SafeBase’s impressive roster of 700 customers, including big names like Palantir, LinkedIn, Asana, and Instacart, speaks volumes about its effectiveness.

“SafeBase has experienced tremendous growth over the past few years,” Arnon noted. “Our customers are thrilled with the product, and adoption is soaring. With more high-volume customers establishing trust centers, the need for manual security reviews is diminishing.”

Based in San Francisco, SafeBase boasts a dedicated team of 55 employees.

The Series B funding round also saw participation from strategic investor Zoom Ventures, NEA, Y Combinator, Comcast Ventures, and Cerca Partners, along with angels like former Salesforce chief trust officer Jim Alkove. This brings SafeBase’s total funding to over $50 million, a significant portion of which will be used to expand the team.

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