Base Operations, a global threat-intelligence platform for enterprise security departments of multinationals, announced a $3 million Seed 2 funding round led by Mindset Ventures, an investment firm focused on early-stage tech investments in the US and Israel. The round also included new investor Prefix Capital, along with returning investors Good Growth Capital, Gaingels, Inner Loop Capital, and Glasswing Ventures.
“Working closely with Dean and Moderna has provided us with incredible insight into companies working at a breakneck pace at a time when they need to think most about their operations while knowing that their security needs are covered”
The round will help Base Operations further its mission of protecting a companies’ people, assets, and operations with granular, street-level intelligence covering threats from violence, crime, and unrest. Specifically, it accelerates Base Operations’ investments in recruiting, enhancing the product, expanding globally, and advancing its AI/ML capabilities.
It’s been a busy year for Base Operations: In February, they closed a $2.2 million seed round and have subsequently brought on new partners, advisors, and customers.
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This month, Base Operations entered into a partnership with spatial intelligence GIS mapping software company ESRI. Users can now visualize Base Operations within ESRI and are able to pull in a variety of different data feeds for comprehensive risk analysis.
Along with the funding round, Base Operations announced that Dean Geribo, Head of Corporate Security at Moderna (one of Base Operations’ customers) joined the Base Operations Advisory Board. “Working closely with Dean and Moderna has provided us with incredible insight into companies working at a breakneck pace at a time when they need to think most about their operations while knowing that their security needs are covered,” said Cory Siskind, Base Operations CEO. “This funding round will help accelerate our expansion and allow us to invest more into resources that will help companies like Moderna thrive.”
Base Operations’ growth builds off a booming global corporate security industry market, which is, according to a recent report in Security Magazine, in part due to companies increasing their security budgets: Spending on technology, training, COVID-19 response, intelligence and other initiatives was a focus for many security leaders, with more than $72 billion spent collectively on security-related training last year for security staff, targeted functional groups and/or across the entire enterprise.
In addition to Moderna, Base Operations counts among its Fortune 500 customers life sciences companies with complex, global supply chains, technology companies with employees all over the world, and financial services and consulting companies with hundreds of physical assets and offices.
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Mindset Ventures Partner and US Head Jules Miller said, “We invested in Base Operations because they are leading the way in helping companies stay secure with micro intelligence, which monitors street-level threat assessments that facilitate a variety of routine security tasks. We’ve been impressed by their ability to stay one step ahead of what CSOs need to thrive in thwarting security issues in the physical world.”
Justin Label, seed investor at Inner Loop said, “Software continues to impact, transform, and elevate every business function, and corporate physical security is no exception. Base Operations has built an industry leading SaaS platform for enterprise and employee safety — including for complex international operations — and their clients are safer and more secure due to the dedicated work of founder Cory Siskind and her whole team.”
“Closing this funding round is an exciting milestone for us as a company and also validates the needs of companies looking for best-in-class security solutions,” said Siskind.
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