Enterprise trust center technology startup, SafeBase, acquired Stacksi, an AI security questionnaire automation platform.
Organizations across the globe, from industry giants like LinkedIn, Asana, Jamf, and Snyk, are tapping into the power of SafeBase's Trust Center, taking advantage of its seamless workflow integrations, automated NDA processes, and insightful back-end analytics.
SafeBase, founded in 2020 by Al Yang (CEO) and Adar Arnon (CTO), has raised $20 million in funding. Their investors include New Enterprise Associates (NEA), Liquid2 Ventures, Y Combinator, NFX, Hack VC and Comcast Ventures. A number of angels backed the startup, like Jim Alkove, former CISO and Chief Trust Officer at Salesforce, Zohar Alon, Sameer Sait and Stephen Schweich, among others.
Stacksi, a fellow Y Combinator graduate, offers an AI powered platform designed to automate the process of filling out enterprise security questionnaires, aiming to expedite deal closures and free up engineers for more critical tasks. Targeting fast-growing enterprise startups, Stacksi allows users to upload security questionnaires and existing security policies into its system. The platform analyzes those questionnaires, identifies gaps against security standards, and assists in enhancing the company's security program.
According to management commentary, SafeBase acquired Stacksi to enable companies to respond more efficiently to bespoke security questionnaires from buyers and foster mutual trust quicker.
Gartner estimates that by the year 2025, cybersecurity considerations will be a key criterion in 60% of organizational decision-making processes regarding third-party transactions. SafeBase’s global network of Trust Centers facilitates swift, straightforward, and transparent security assessments for security teams, sales departments, and buyers alike.
