Topics
up-to-the-minute
AI
Amazon
Image Credits:Yuichiro Chino(opens in a new window)/ Getty Images
Apps
Biotech & Health
mood
Image Credits:Yuichiro Chino(opens in a new window)/ Getty Images
Cloud Computing
Department of Commerce
Crypto
Enterprise
EVs
Fintech
Fundraising
widget
punt
Government & Policy
Hardware
Layoffs
Media & Entertainment
Meta
Microsoft
seclusion
Robotics
Security
Social
Space
Startups
TikTok
Transportation
speculation
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
Podcasts
video
Partner Content
TechCrunch Brand Studio
Crunchboard
Contact Us
Drata , a security measures compliance automation platform that helps companies adhere to frameworks such as SOC 2 and GDPR , hasacquiredsoftware surety review startup SafeBasefor $ 250 million .
SafeBase co - founders Al Yang ( CEO ) and Adar Arnon ( CTO ) will retain their roles , and SafeBase will retain to offer up a stand - alone product while bring its core solutions to Drata ’s program .
“ This partnership is n’t just about combine complementary products , ” Yangwrote in a billet on SafeBase ’s prescribed blog Tuesday . “ It ’s a union of two customer - obsessed companionship with aligned missions and cultures , focalise on delivering the tools enterprisingness need to succeed . ”
Yang and Arnon found SafeBase in 2020 after get together at Harvard Business School . Incubated by Y Combinator , the company help customer fulfil out surety questionnaires — the reviews that organizations normally kick off before buy a raw piece of software .
SafeBase employs AI models specifically trained on security support use case to read and interpret security selective information and questions , and then automatically react to security questionnaires . Beyond the custom models , SafeBase provides an locomotive engine that allows a society to assign rules - based behaviour for client admission , as well as dashboards that show insights and analytics on the caller ’s security bearing .
SafeBase , which is headquarter in San Francisco , managed to raise $ 53.1 million in venture capital from investor , let in Zoom Ventures , NEA , and Comcast Ventures prior to its departure . According to Yang , SafeBase has over 1,000 customers today , including LinkedIn , Palantir , and CrowdStrike .
As Drata co - laminitis and CEO Adam Markowitznoted in a Emily Post on Tuesday , Drata ’s acquisition of SafeBase come up as the demand for trust direction solution lift . Cloud apps and AI have increase organisation ’ trust on third party that have access to raw datum . At the same time , new regulation like the Digital Operational Resilience Act in the EU are enforce new security requirements on vendors .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
With SafeBase , Markowitz propose to produce a “ unlined ecosystem ” of corporate trust , governance , risk , and compliance offering .
“ Together with SafeBase , we ’re more attached than ever to authorise our client to build and scale trust , unlock growth , and achieve success , ” Markowitz said in the blog . “ Just in time for Drata ’s fourth day of remembrance , this milepost mark off the start of an exciting unexampled chapter . ”
Founded in 2020 , Drata has grown rapidly over the years , stop up well over $ 300 million in funding and develop over 7,000 customer , including Notion and Tenable . It counts Iconiq Growth and Salesforce Ventures among its backer , in addition to Microsoft CEO Satya Nadella and former LinkedIn CEO Jeff Weiner .
Last class , Drata ’s tax income grew 100 % yr - over - year , and the San Diego - based ship’s company said that it was adding 650 new customers each quarter . Drata also made its first attainment , snap up brass and automation firm Harmonize.io in April and cloud security political program Oak9 in May .
A public relations rep for Drata distinguish TechCrunch via e-mail that Drata is nearing $ 100 million in yearly recur revenue .
But the strong-growing growth strategy has n’t consistently paid off . Last September , Dratalaid off around 40 people , or 9 % of its workforce . At the time , the company allude to “ sustainable growth ” ; Drata ’s headcount grew a banging 52 % from 2023 to last year .
