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SafeBase announced a $33 million Series B on April 30, 2024, with Touring Capital leading the round. The company sells enterprise trust-center software designed to make security information easier for prospective customers to review and to streamline vendor security questionnaires.
Who invested in SafeBase’s Series B?
Touring Capital led the $33 million round. The announcement also named strategic investor Zoom Ventures; existing investors NEA, Y Combinator, Comcast Ventures and Cerca Partners; and cybersecurity executives including former Salesforce Chief Trust Officer Jim Alkove. TechCrunch also reported the round and its principal participants. SafeBase’s April 30, 2024 announcement, republished by intelligence360, and TechCrunch’s coverage reported the financing.
The announcement did not establish a valuation, so the amount raised should not be read as evidence of SafeBase’s valuation.
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What does SafeBase do?
SafeBase provides a trust center where companies can share information about their security posture and manage access to sensitive documents. The goal is to help potential customers assess a software vendor’s security practices during procurement, while reducing the back-and-forth that can accompany security reviews.
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By 2024, coverage also described AI assistance for completing security questionnaires. These questionnaires are used by buyers as part of vendor reviews before purchasing software. The company’s March 2022 Series A announcement described its trust-center product and document-access capabilities; TechCrunch’s 2024 report covered the questionnaire workflow.
Why did Touring Capital see an opportunity?
Touring Capital framed SafeBase as a way to make security reviews smoother and position security information as part of building customer trust and supporting sales. That is the lead investor’s view of the opportunity, rather than an independently established measure of the product’s impact.
In its April 30, 2024 article, Touring Capital characterized the review process as averaging 3–5 weeks and involving dependencies across sales, legal and security. This is the firm’s estimate, not a universal or independently verified benchmark. Touring Capital’s investment article provides its rationale and estimate.
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1Clear out junk files and repair common Windows errors2Fix the driver behind crashes, sound loss and screen glitches3Repair Windows errors before they cause bigger problemsHow does the Series B fit SafeBase’s funding history?
| Funding announcement | Amount and lead | Context |
|---|---|---|
| Series A, March 10, 2022 | $18 million, led by NEA | Y Combinator and Comcast Ventures also participated, according to SafeBase’s announcement. |
| Series B, April 30, 2024 | $33 million, led by Touring Capital | SafeBase said the funding brought total funding to more than $50 million; named participants included Zoom Ventures, NEA, Y Combinator, Comcast Ventures and Cerca Partners. |
What did SafeBase report about its customers?
Y Combinator’s account of the 2024 Series B announcement reported more than 700 customers and 98% gross retention at that time. These are point-in-time figures attributed to Y Combinator, not current metrics or independently audited results. Y Combinator’s SafeBase page carries the announcement account.
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