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SafeBase Raises $18 Million Series A Round

SafeBase
SafeBase, Inc., a smart trust centre that streamlines the security assessment process for B2B SaaS companies, today announced that it has raised $18 million in a Series A round led by global venture capital firm New Enterprise Associates (NEA), with participation from Y Combinator and Comcast Ventures, the corporate venture capital arm of Comcast Corporation. SafeBase has over 100 customers, including Linkedin, Jamf, and Snyk, a cybersecurity firm. The funding will be used to expand the company and hire more employees.

SafeBase is a smart trust centre that allows a company's security posture to be shared and critical document access to be automated. The SafeBase portal gives organizations "self-serve" access, enabling InfoSec teams to understand everything about a company's security programme, shortening the sales cycle and increasing client trust by providing total visibility.

Enterprise adoption of new technologies has traditionally been hampered by security evaluations. As per a recent survey released by TechBeacon, cybersecurity investment would reach $174 billion in 2024, with 69 percent citing regulatory compliance as the key spending driver. Moreover, third-party breaches are growing more prevalent, with 80% of companies reporting at least one breach in the last year. Assessing overall security is critical when considering new corporate technology from a third-party vendor, but it can be a lengthy and time-consuming procedure. SafeBase is built to automate access and deliver security and compliance data for industry standards like GDPR, HIPAA, and SOC2.

Hilarie Koplow-McAdams, Venture Partner, NEA said that "Security reviews are notorious for being disjointed and often complicated—which consequently leads to delayed sales cycles and implementations. SafeBase has developed a long-desired solution that streamlines and automates security reviews within a single platform, giving customers the confidence to make faster decisions for new technology. The product has already displayed impressive market traction and we're thrilled to partner with the SafeBase team as they continue to pioneer the future of vendor security for organizations globally."

Al Yang, CEO, and Adar Arnon, CTO, founded SafeBase after meeting at Harvard and being accepted into Y Combinator's accelerator programme during the Pandemic. Adar served in the Israeli Defense Forces Unit 8200 before to Harvard, therefore the business has excellent engineering teams in both the United States and Israel. Al is a serial entrepreneur who has seen the agony and inefficiencies of vendor security evaluations firsthand. They're on a mission to make the world a better place by enabling organizations with strong security systems to earn a competitive advantage in the sales process.

"At SafeBase, we want all companies, regardless of size or sector, to be able to easily communicate their security posture to the world. We're very proud that the investors at NEA share our vision and want to help us bring it to every company that's serious about building and maintaining trust with its customers."

Al Yang, CEO of SafeBase

SafeBase helps business development and sales teams to expedite security and compliance processes for businesses integrating third-party technology providers, in addition to security and compliance challenges in the sales process. From an organized, interactive dashboard, information security personnel may now view all the data of a company's security programme.

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Software Security

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Trellix | January 22, 2024

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Customers benefit from a Fortune 500 SOC capability built on the Trellix XDR Platform with AI-guided intelligence, enabling faster detection, investigation, and remediation. “The partnership aligns with Trellix’s ongoing commitment to secure organizations from advanced cyber threats,” says Sean Morton, SVP of Professional Services at Trellix. “Leveraging One Source’s MDR capabilities and expanded footprint, we enable more businesses to build cyber resilience, with continued innovation in our combined products and solution offerings to stay ahead of bad actors.” One Source has multiple SOCs leveraging Trellix’s technology, staffed by the industry’s top experts to provide Managed Detection and Response (MDR) capabilities. Their team implements a proactive cyber strategy for customers specific to industry, technology environment, and vulnerabilities, built on the Trellix XDR Platform with 24x7 monitoring. The partnership and combined expertise benefits customers with enhanced services like managed threat detection and response, incident response, security operations and analytics, threat intelligence, threat hunting and forensics, and training and enablement. “The Trellix and One Source partnership is extremely powerful; the former offers an incredible set of security solutions, and the latter excels at personalized deployment and execution,” said Paul Moline, Chief Information Officer, Lindsay Automotive Group. “I never anticipated we could protect our environment with the same security solutions used by government agencies and Fortune 50 companies: I can now sleep at night.” The Trellix XDR Platform’s open architecture and broad set of native security controls across endpoint, email, network, cloud, and data security integrates with over 500 third-party tools to create multi-vector, multi-vendor event correlation and context to speed up investigations. The Trellix Advanced Research Center provides an additional layer of protection by continuously informing the platform with information from millions of global sensors on the latest threat vectors, tactics, and recommendations. One Source experts apply these insights to stay ahead of the constantly evolving threat landscape. “The collaboration with Trellix is a game-changer in reshaping the cybersecurity landscape,” says Eric Gressel, Executive Vice President of Sales, One Source. “Thanks to our partnership, we have access to the highest level of cyber intelligence to fend off newly-revealed hackers and their means of attack, enabling our customers with the most comprehensive offering of enhanced Managed Security Services to protect their businesses.” One Source has a proven track record supporting global businesses spanning retail, restaurant, automotive, healthcare, financial, and manufacturing industries. Trellix customers can rely on One Source's leading Managed Security Services to optimize technology expenses while enhancing telecom connectivity, IT infrastructure, and cybersecurity strategies. About Trellix Trellix is a global company redefining the future of cybersecurity and soulful work. The company’s open and native extended detection and response (XDR) platform helps organizations confronted by today’s most advanced threats gain confidence in the protection and resilience of their operations. Trellix, along with an extensive partner ecosystem, accelerates technology innovation through machine learning and automation to empower over 40,000 business and government customers with living security. More at https://trellix.com. About One Source One Source helps businesses simplify a complex technology world. One Source is the leading provider of Technology and Managed Security Services for enterprises. Today, One Source manages more than 2,500 customers, 45,000 business locations, and over one million assets throughout North America. In addition to Managed Security Services, One Source provides Managed Technology Expense Management, 24 / 7 local helpdesk, procures and provisions telecom & IT solutions, and manages customer service requests. One Source frequently generates triple-digit ROI for customers through contract negotiation, portfolio optimization, and ongoing expense management. In addition, One Source leverages partnerships with industry leaders, including Trellix to bring Fortune 500 security solutions and fully managed services to the mid-market. One Source's approach empowers businesses to focus on customers and revenue-generating activities. Learn more at https://www.onesource.net/.

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