Drata has announced its acquisition of SafeBase in a $250 million deal, signaling a major move to enhance its security and compliance automation offerings. Drata, valued at $2 billion after its Series C funding round in 2022, has built a cloud-based platform to help organizations address compliance challenges. Its platform enables businesses to manage and fix issues related to compliance standards like SOC 2, ISO 27001, HIPAA, GDPR, and custom frameworks, through continuous monitoring and automated evidence collection.
SafeBase, on the other hand, has developed a trust center platform that automates security reviews, helping organizations streamline security questionnaires using artificial intelligence.
This functionality complements Drata’s existing platform by adding a layer of efficiency to the security review process. The merger of these two platforms will provide organizations with a more robust solution for compliance, transparency, and security.
The goal of the merger is to build a comprehensive trust management platform that will not only enhance transparency but also simplify vendor risk management, self-serve security reviews, and compliance audits. Adam Markowitz, Drata’s co-founder and CEO, emphasized that the acquisition represents more than just a merger of products, but a union of customer-focused companies with aligned missions and cultures.
Both Drata and SafeBase, based in California, were founded roughly four years ago. The deal is expected to reshape the trust management landscape, offering organizations a more streamlined approach to tackling compliance issues. Through the combined efforts of both companies, Drata aims to redefine trust management practices for businesses navigating complex regulatory and security environments.
