Coverbase Adds Third-Party Risk Veterans as Enterprise Adoption Accelerates

Brian Shaw and Constantine Malaxos join as enterprise customers expand across financial services, healthcare, and technology

SAN FRANCISCO, Sept. 29, 2026 (GLOBE NEWSWIRE) -- Coverbase, AI engineered for third-party risk management (TPRM), today announced that Brian Shaw has joined as GTM Lead and Constantine Malaxos as Head of Alliances. Both bring decades of experience building and selling third-party risk technology to large enterprises.

In less than a year since closing its Series A, Coverbase has rapidly expanded its enterprise customer base, which now includes two of the Fortune 10.

New customers include CVS Health, Huntington Bank, Alaska Airlines, Guardant Health, Edward Jones, Equinix, and Tradeweb, joining Nationwide and Coinbase. The platform has also expanded from AI-driven assessments into continuous monitoring, application security verification and contract controls, each built for how third-party risk teams actually work rather than adapted from general-purpose AI.

Customers are seeing the results. In its Q2 2026 earnings materials, Equity Bank said AI now produces initial third-party risk reviews in about five minutes.

“Most AI in this category has been layered onto workflows designed for sending and scoring questionnaires. That may speed up the old process, but it doesn’t change what the process can know, which is why point-in-time assessment is done as a category,” said Clarence Chio, CEO and co-founder of Coverbase. “We engineered Coverbase around the work of third-party risk itself, from reading evidence against a customer’s own controls to watching vendors change between reviews. Brian and Constantine have spent years inside the companies that shaped this industry, and their decision to join us says a lot about where it is heading.”

Shaw brings more than 25 years in risk and compliance automation, focused on third-party risk in financial services since 2011. He was most recently Vice President and Head of North America at Certa, and previously held TPRM leadership roles at Mirato, Coupa and Opus Global. He will lead go-to-market strategy and enterprise sales.

“I have spent my career watching TPRM programs grow more sophisticated while the foundation underneath them stayed the same, a questionnaire sent out and an answer taken largely on trust,” said Shaw. “Coverbase inverts that model by establishing what is true about a vendor first and asking questions second, which is what risk leaders and examiners have wanted for years. I joined because that shift will define the next generation of third-party risk, and I wanted to help lead it.”

Malaxos has spent his career building alliances between risk technology providers, advisory firms and data partners, most recently as Vice President of Global Partners and Alliances at ProcessUnity and earlier at Hiperos, later acquired by Coupa. He will build Coverbase’s advisory, consulting and data partner ecosystem and support international expansion.

“The advisors, assessors and intelligence providers around a third-party risk program shape how it runs as much as the software does, and AI makes those relationships more valuable by putting their expertise and data to work continuously,” said Malaxos. “Coverbase is built to take in that intelligence rather than compete with it, which makes it a platform partners can build on.”

About Coverbase
Coverbase is AI engineered for third-party risk management, from vendor intake through contracts. It evaluates vendor evidence against each customer’s own controls, shows the reasoning and source behind every finding, and keeps vendor risk current as vendors change. Founded in 2024 and headquartered in San Francisco, Coverbase is backed by Canapi Ventures, Fika Ventures, TTV Capital, Pear VC and Valley Ventures. Learn more at coverbase.com.

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