NEWS BRIEF
Drata, a trust management platform provider, announced plans on Tuesday to acquire SafeBase to streamline security reviews, strengthen vendor risk management, and maintain customer trust through continuous compliance. The acquisition, valued “at a quarter of a billion dollars,” according to a company spokesperson, is expected to close by the end of the month.
Stricter regulatory requirements, increased cloud adoption, and growing dependency on artificial intelligence tools are driving market demand for a “full stack” Trust Management platform, Drata said in a statement. The companies have a “shared vision of being the go-to ‘trust layer’ between companies,” Drata said. The goal is to create a comprehensive trust management platform, combining Drata’s compliance automation and vendor risk management capabilities with SafeBase’s Trust Center Platform, which streamlines security questionnaires.
SafeBase, founded in 2020 by CEO al Yang and CTO Adar Arnon, helps customers fill out security questionnaires before buying a new piece of software or hardware. These questionnaires can be time-consuming and difficult to complete, especially for more complex products. SafeBase can reduce the time spent on inbound security questionnaires by up to 98%, according to Drata. The company, which raised $33 million in a Series B round last April, counts organizations including CrowdStrike, HubSpot, LinkedIn, T-Mobile, Twilio, and “one-third of the Cloud 100” as customers.
