Leading Australian workplace solutions tech firm SafetyCulture has recently closed its largest funding raise to the tune of $60 million in 2018, turning the company into a $440 million business.
The company that facilitates more than a million safety and quality inspections a month says its recent Series C funding round was the largest raise in 2018 by an Australian company.
The capital raise was led by New York investment firm Tiger Global Management and other investors included previous supporters Blackbird Ventures, Index Ventures, Morpheus Ventures and Scott Farquhar (co-founder of Atlassian). Following this funding round, SafetyCulture has now raised a total of $98 million and is now valued at $440 million.
SafetyCulture, best known for its award-winning checklist app iAuditor, empowers teams to improve safety and quality in the workplace by reporting safety issues and non-compliances as they happen. Companies using iAuditor, which include Coca-Cola, Coles, Ausgrid, BHP Billiton and Qantas, can create smart checklists, conduct on-site inspections, analyse data and share insights in real time. The company claims iAuditor is used by more than 50 per cent of the ASX top 100 companies.
The recent funding will be used to accelerate SafetyCulture’s global go-to-market expansion, built from its product and engineering teams in Australia, and invest in new areas such as the internet of things and workplace training.
“SafetyCulture is expanding at a breakneck pace,” founder and CEO of SafetyCulture Luke Anear said. “In the last year alone, more than 100 new staff were hired to support the company’s growth. However, most of the world don’t know we exist: they’ve never heard of SafetyCulture. This funding means we can continue to build great products, better serve more customers and have a bigger impact on safety and quality for workers all around the world.”
SafetyCulture has attracted 15,000 organisations (more than 4,000 in Australia) to its platform and has grown its staff from 85 in 2017 to 214 employees across its offices in Sydney, Townsville, Kansas City, Manchester and Manilla.