- Australia-based enterprise software company SafetyCulture announced it raised $35.5 million at an $800 million valuation
Australia-based enterprise software company SafetyCulture, a company that manages security and compliance checks, announced it raised $35.5 million in funding at an $800 million valuation according to TechCrunch. About half of this funding round will go towards providing liquidity to employee shareholders who have been at the company for more than 3 years.
This round of funding was led by TDM Growth Partners with participation from other local Australian investors like Blackbird Ventures, Skip Capital (venture capital firm founded by Atlassian co-founder and co-chief executive, Scott Farquhar and headed by his wife Kim Jackson) and former Australian prime minister Malcolm Turnbull and his wife.
There are over 26,000 companies in 85 countries that use the iAuditor app for making safety checks every year. Recently, the company crossed the cash-flow positive milestone.
With this round of funding, the company will continue product development and build out a more comprehensive communication platform. SafetyCulture’s current customers include Emirates, Coca-Cola, GE, IKEA, Unilever, and BHP Billiton.
Key Quotes:
“This is an exciting milestone for us to achieve as a company, especially during uncertain times like these. We’re particularly happy about giving employees the opportunity to sell some of their equity as a reward for all their hard work and continued loyalty.”
-SafetyCulture founder and CEO Luke Anear
“Today’s announcement continues what has been 12 months of hyper growth for SafetyCulture’s Americas headquarters in Kansas City. The North American market currently makes up around 40% of our customers and this significant injection of capital enables us to accelerate product development for items customers need, along with the talent and marketing needed to scale our business to serve more customers and have a greater impact on safety and quality for workers all around the US.”
-Bob Butler, General Manager of SafetyCulture Americas
