Drata Announces Acquisition of SafeBase
Deal News | Feb 11, 2025 | PR Newswire Cision Drata Inc.
In a strategic move to enhance its offerings in governance, risk, and compliance, Drata, a leading Trust Management platform based in San Diego, has announced a definitive agreement to acquire SafeBase. SafeBase, a Trust Center solution founded in 2020 by Al Yang and Adar Arnon, has successfully facilitated trust for over 1,000 organizations, aiding in the generation of approximately $15 billion in security-enabled revenue. The acquisition aligns with the increasing demand for comprehensive trust management due to factors such as growing cloud and AI integration, stricter regulations like DORA and the EU AI Act, and higher security risks. This merger is expected to enhance Drata's capabilities in security reviews and vendor risk management, primarily through AI-driven automation. The acquisition reflects a shared vision between the two companies to create an ecosystem that prioritizes speed, transparency, and tangible trust as crucial competitive advantages.
Sectors
- Software & Services
- Enterprise Software
- Cybersecurity
- Regulatory Technology (RegTech)
Geography
- United States – Drata is headquartered in San Diego, California, and SafeBase is also based in the U.S.
- Global – The services offered by Drata and SafeBase cater to organizations worldwide, addressing international regulatory standards.
Industry
- Software & Services – Both Drata and SafeBase operate within the software industry, providing Trust Management and automation services for security and compliance.
- Enterprise Software – The acquisition focuses on enhancing enterprise-level Trust Management, governance, risk, and compliance solutions.
- Cybersecurity – The deal emphasizes improving security reviews and vendor risk management, highlighting the importance of trust in cybersecurity.
- Regulatory Technology (RegTech) – The emphasis on compliance with regulations like DORA and ISO standards positions both companies in the RegTech sector.
Financials
- 15 billion – SafeBase has driven approximately $15 billion in security-enabled revenue for its clients.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Drata Inc. | Acquiring Company | Company | A leading Trust Management platform focusing on governance, risk, and compliance solutions. |
| SafeBase | Target Company | Company | A Trust Center platform that facilitates security reviews and enhances company trust transparency. |
| Al Yang | CEO and Co-Founder | Person | Co-Founder and CEO of SafeBase, instrumental in its rapid growth and innovation. |
| Adar Arnon | CTO and Co-Founder | Person | CTO and co-founder of SafeBase, contributing to technological advancements in Trust Centers. |
| Adam Markowitz | CEO and Co-Founder | Person | CEO and co-founder of Drata, leading the company's growth in governance and compliance automation. |
| Cooley LLP | Legal Advisor | Company | Served as legal counsel for Drata in the acquisition process. |
| Goodwin Procter LLP | Legal Advisor | Company | Served as legal counsel for SafeBase in the acquisition process. |