Drat, a security automation platform that helps corporations follow RAM corresponding to SOC 2 and RODPR, has acquired Startup Safebase software review for $ 250 million.
Co -founders of Safebase, Al Yang (CEO) and Adar Arnon (CTO) will keep their roles, and Safebase will proceed to supply an independent product, while introducing their basic solutions to the Drat platform.
“This partnership is not only combining complementary products,” Yang He wrote in a post on the official Safebase blog on Tuesday. “This is a relationship of two obsessions about clients with even missions and cultures, focusing on providing the tools needed to be successful.”
Yang and Arnon founded Safebase in 2020 after meeting at Harvard Business School. The company incubated by Y Combinator helps customers complete security questionnaires – reviews that organizations normally start before buying latest software.
Safebase uses AI models specially trained in the field of security documentation to read and interpret information about security and questions, and then routinely reply to security questionnaires. In addition to non -standard models, Safebase provides a engine that enables the company to assign behaviors based on customer access rules, in addition to navigation desktops that show observations and analyzes in the company’s security position.
Safebase, based in San Francisco, managed to boost $ 53.1 million in investors’ capital from investors, including Zoom Ventures, Nea and Comcast Ventures before leaving. According to Yang Safebase, today has over 1,000 customers, including LinkedIn, Palantir and Crowdstrike.
As a co -founder and general director of Drat, Adam Markowitz was recorded in the post on TuesdayThe acquisition of Safebase by Drat appears as the demand for trust management solutions increases. Applications in the cloud and AI increase relying organizations from third parties that have access to confidential data. At the same time, latest regulations, corresponding to the Digital Act on Operational Resistance in the EU, impose latest safety requirements for suppliers.
Thanks to Safebase, Markowitz tries to create a “trouble -free ecosystem” of trust, management, risk and compliance offers.
“Together with Safebase, we are more involved in enabling our clients to build and scale trust, unlock growth and achieve success,” said Markowitz on the blog. “Just for the fourth anniversary of Datu, this milestone means the beginning of an exciting new chapter.”
Established in 2020, the Drat grew rapidly over the years, securing over $ 300 million of financing and purchasing over 7,000 customers, including the concept and possible. Faces of Iconiq growth and Salesforce Ventures among their supporters, in addition to the general director Microsoft Satya Nadella and former general director of LinkedIn Jeff Weiner.
Last 12 months, Daty’s revenues increased 100% 12 months -on -year, and the company based in San Diego said that it adds 650 latest customers of each quarter. Drat also made the first acquisitions, winning the Harmonize.IO management and automation company in April and the OAK9 cloud security platform in May.
A representative of PR for Drat told TechCrunch via e -mail that Drat is approaching $ 100 million annual repetitive revenues.
But the aggressive growth strategy didn’t repay consistently. In September, Drat slowed down about 40 people, or 9% of their labor force. At that point, the company referred to “sustainable growth”; The head of the Daty grew by 52% from 2023 to last 12 months.