By the time a SaaS company gets to the finish line with a new customer: pitch delivered, needs matched, excitement mutual, a strange sort of inertia sets in. The cause? A security review. According to Conveyor’s 2024 State of Security Review report, these reviews take an average of 3.1 weeks to complete and delay over half of enterprise deals. For many in sales and compliance, this step is a fire drill of redundant work, draining valuable hours and stalling revenue.
Conveyor, a San Francisco-based startup founded by Chas Ballew, has set out to eliminate that friction with AI. The company recently raised a $20 million Series B round led by SignalFire, bringing its total funding to $40 million. Its goal? To become the default automation layer for security reviews and RFPs-the painstakingly detailed, high-stakes documents that enterprise deals so often hinge on.
Ballew isn’t a stranger to these bureaucratic roadblocks. As co-founder of Aptible, a hosting platform for healthcare companies, he saw the pain of compliance reviews up close. "Ask anyone who has touched a security questionnaire: they are a notoriously painful and redundant activity," he wrote in 2023. "They delay sales, eat up expert time, and are nobody’s idea of good work."
