Trust Center Platform startup SafeBase Inc. today announced that it 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 pitches itself as offering the leading Trust Center Platform designed for friction-free security reviews. Through its Trust Center, the company automates the security review process to assist in how companies assess their security and trust posture.

The SafeBase Trust Center Platform seeks to address the issue wherein software purchasers are finding it increasingly difficult to show that third-party vendors are safe and reliable business partners. The company argues that historically, these security reviews have been plagued by friction-filled processes that delay sales cycles and can damage trust between buyers and vendors.

Built with transparency at its core, the SafeBase Trust Center Platform offers a centralized and automated approach to trust management that allows companies to ditch outdated services in exchange for transparency which helps build customer trust, gain valuable insights and elevate their security story.

“Today’s approach to buyer security reviews is broken,” said Chief Executive Al Yang. “It’s time we say goodbye to security through obscurity and make it easier for buyers to understand a prospective vendor’s security and trust posture without having to jump through hoops.”

SafeBase claims a customer base surpassing 700 customers with a 98% gross retention rate. Notable customers include Abnormal Security Corp., Amplitude Inc., Asana Inc., Axonius Inc., ClickUp Inc., Datadog Inc., Gigamon Inc., Gitlab Inc., JAMF Sofware LLC, LinkedIn Corp., Plaid Inc., Postman Inc. and Ramp Business Corp.

Touring Capital LLC led the Series B round, with Zoom Venture LLC, New Enterprise Associates Inc., Y Combinator Management LLC, Comcast Ventures Holdings Corp., Cerca Partners LLC and a number of individual investors also participating, notable among them Jim Alkove, chief trust officer at Salesforce Inc.

“Traditional security review processes often act as roadblocks, hindering customer transparency, delaying sales cycles and compromising the buyer experience,” said Priya Saiprasad, co-founder and general partner of Touring Capital. “SafeBase is not just reimagining the security review process; they are leading the trust center market with a product that has set a new industry standard.”

Including the new funding, SafeBase has raised $53 million to date, according to data from Tracxn.

Image: SafeBase