Drata acquires SafeBase for $250M

Drata, a security compliance automation firm, has acquired SafeBase, a startup specializing in software security reviews, for $250 million, TechCrunch reports. Founded in 2020, SafeBase helps organizations streamline security questionnaires using artificial intelligence trained on security documentation. Its platform automates responses, enforces rules-based customer access, and provides analytics on security posture. The company has over 1,000 customers and had raised $53.1 million from investors before its acquisition. Drata, which has grown rapidly since its 2020 launch, aims to strengthen its trust management ecosystem as more enterprises entrust their sensitive data to third parties and amid increasing regulatory pressures like the Digital Operational Resilience Act in the European Union. The acquisition follows Drata’s earlier purchases of Harmonize.io and Oak9 as it continues to scale its compliance and security solutions. SafeBase will continue operating independently while integrating its core solutions into Drata’s platform. SafeBase co-founders Al Yang and Adar Arnon will retain their leadership roles.