SafetyCulture Inks USD 35.5 Million, Takes Valuation to USD 800 Million

The company's iAuditor app is used by over 26,000 companies in 85 countries to make safety checks every year

Fremont, CA: Sydney-based provider of an enterprise software company that manages security and compliance checks at companies around the world, SafetyCulture, registered USD 35.5 million in a Series C-1 funding round of financing led by TDM Growth Partners, with participation from Blackbird Ventures, Skip Capital, Index Ventures and former Australian Prime Minister Malcolm Turnbull and his wife, Lucy. The funds from the financing round will be used by the company to reward early employees, hire people, and accelerate product development.

The latest round of funding takes SafetyCulture to a valuation of USD 800 million. “This is an exciting milestone for us to achieve as a company, especially during uncertain times like these,” SafetyCulture founder and CEO Luke Anear said. “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.” The company's iAuditor app is used by over 26,000 companies in 85 countries to make safety checks every year. SafetyCulture recently crossed the positive cash-flow threshold. It now controls operations from Kansas City, Sydney, Townsville, Manchester, and Manila.

"Today's announcement continues what has been 12 months of hyper-growth for SafetyCulture’s Americas headquarters in Kansas City,” said Bob Butler, General Manager of SafetyCulture Americas. " 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."

With the COVID-19 pandemic spreading rapidly, the company announced that it would be offering its premium safety audit product and other features for free for six months to healthcare, emergency, education, and volunteer organizing companies and on-profits. Some of the company's current clients include Emirates, Coca-Cola, GE, IKEA, Unilever, BHP Billiton, and Accor.

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