SafeBase, a cybersecurity platform that automates access to sensitive documents, has closed its Series A funding round on $18m.
Global venture capital firm New Enterprise Associates served as the lead investor, with commitments also coming from Y Combinator and Comcast Ventures, the corporate venture capital arm of Comcast Corporation.
This capital burst will help SafeBase foster its growth and hire more staff.
SafeBase, which claims to be a smart trust centre for a company’s security posture, provides clients with a self-serve access portal so infosec teams can see the entire security program. Its platform is designed to automate access and provide security and compliance information for industry standards such as GDPR, HIPAA compliance and SOC2.
NEA venture partner Hilarie Koplow-McAdams said, “Security reviews are notorious for being disjointed and often complicated—which consequently leads to delayed sales cycles and implementations.
“SafeBase has developed a long-desired solution that streamlines and automates security reviews within a single platform, giving customers the confidence to make faster decisions for new technology. The product has already displayed impressive market traction and we’re thrilled to partner with the SafeBase team as they continue to pioneer the future of vendor security for organizations globally.”
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