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SafeBase Uses AI to Automate and Streamline Software Security Reviews

Image Credits: SafeBase
By: Headliners News / May 23, 2024

Al Yang and Adar Arnon, both Harvard Business School alumni, shared a common passion for cybersecurity. Recognizing the growing importance of security in today’s global business landscape, they co-founded SafeBase, an innovative solution to enhance security processes.

The startup was accepted into Y Combinator’s accelerator program during the pandemic, SafeBase recently announced a significant milestone: a $33 million Series B round led by Touring Capital. The company focuses on assisting customers in completing security questionnaires, a crucial step organizations undertake before purchasing new software to ensure governance and compliance.

Traditionally, security questionnaires can be laborious, consuming weeks to months of a team’s time, especially for complex software. However, SafeBase aims to revolutionize this process through automation, leveraging AI models specifically trained for security documentation. These models interpret security information and questions, providing automatic responses, thus streamlining the security review process.

Addressing concerns about AI accuracy, Arnon emphasized the effectiveness of SafeBase’s approach, citing a combination of large and small language models that enhance answer coverage. Additionally, SafeBase offers a customizable engine for assigning rules-based behavior for customer access and provides insightful dashboards displaying analytics on security posture.

While SafeBase faces competition from vendors like Conveyor, Kintent, and Quilt, the company stands out with a robust customer base, boasting names like Palantir, LinkedIn, Asana, and Instacart. Arnon attributes SafeBase’s success to its rapid growth and customer satisfaction, fueled by increased visibility across its vendor network.

With the Series B round, SafeBase plans to further expand its team. Strategic investors like Zoom Ventures, along with existing backers NEA, Y Combinator, Comcast Ventures, and Cerca Partners, highlight the industry’s confidence in SafeBase’s potential. This recent funding infusion brings SafeBase’s total raised capital to over $50 million, marking an exciting chapter in its journey to revolutionize software security reviews.

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