NEWS BRIEF

Drata, a Trust Management Platform Provider, Announces Acquisition Plans for SafeBase

Drata, a leading trust management platform provider, has announced plans to acquire SafeBase, a company that specializes in streamlining security reviews and vendor risk management. The acquisition, valued at a quarter of a billion dollars, is expected to be completed by the end of the month. The deal aims to strengthen Drata’s position in the market by integrating SafeBase’s Trust Center Platform with Drata’s compliance automation and risk management capabilities.

Stricter regulatory requirements, increased adoption of cloud technologies, and growing reliance on artificial intelligence tools are driving the demand for a full-stack trust management platform. Drata and SafeBase share a common vision of being the go-to ‘trust layer’ between companies. The combined platform will provide a comprehensive solution for trust management, capable of streamlining security questionnaires and improving compliance.

SafeBase, founded in 2020 by CEO al Yang and CTO Adar Arnon, helps businesses fill out security questionnaires before purchasing new software or hardware. This process can be time-consuming and complex, especially for more sophisticated products. SafeBase’s platform can reduce the time spent on inbound security questionnaires by up to 98%, according to Drata. The company has gained significant traction, with notable customers including CrowdStrike, HubSpot, LinkedIn, T-Mobile, Twilio, and one-third of the Cloud 100.