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Security and compliance automation solutions provider Drata announced on Tuesday that it has entered into a definitive agreement to acquire SafeBase, a company known for its trust center platform.
SecurityWeek has been told that Drata is acquiring SafeBase in a $250 million deal.
Drata, which was valued at $2 billion after raising $200 million in Series C funding in 2022, has developed a cloud-based platform designed to help organizations find and fix compliance issues. The platform can streamline compliance for SOC 2, ISO 27001, HIPAA, GDPR, and custom frameworks through continuous and automated control monitoring and evidence collection.
SafeBase has created a trust center platform that automates security reviews, enabling customers to expedite security questionnaires with AI assistance.
The goal of the Drata and SafeBase merger is to create a comprehensive trust management platform designed to help organizations enhance transparency and streamline self-serve security reviews, scale compliance and simplify audits, and enhance vendor risk management.
“This isn’t just a merger of complementary products—it’s a union of two customer-obsessed companies with aligned missions and cultures, working together to redefine what’s possible in trust management,” said Adam Markowitz, co-founder and CEO of Drata.
Both companies are based in California and both were launched roughly four years ago.
SecurityWeek tracked over 400 cybersecurity M&A deals in 2024, including 68 transactions involving governance, risk management and compliance (GRC) companies. In fact, this category saw the highest number of transactions last year, after MSSPs. A detailed report will be published in the coming days.
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