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About SafetyCulture:
SafetyCulture was established in the year 2004 by Luke Anear with an aim to manage quality and safety in a workplace through the development of a mobile solution. The Company has completed over 30 million inspections using SafetyCulture's iAuditor app. SafetyCulture intends to assist the businesses in attaining safer & better-quality workplaces globally using innovative, cost effective, mobile-first products.
How did SafetyCulture evolve?
SafetyCulture’s CEO Luke Anear, after witnessing several workplace adverse incidents as a private investigator, set out to build a team that would help him in developing a mobile solution that would provide safety at the workplace. As the business started gaining impetus with more clients using the products, SafetyCulture expanded to a new location in Townsville, Australia. With the increasing popularity of the business via word of mouth, the Company was successful in making its global presence with offices in Sydney, Kansas City and Manchester.
In 2016, the Company went into expansion mode with workplaces in Kansas City and San Francisco in the US, and Manchester in the UK. Through a Series B funding round, the company was able to raise $30 million which was guided by Index Ventures. In 2017, the Company extended its support function by starting new offices in Manila.
In 2018, the business increased in the region of Internet of Things with its temperature & humidity sensors, an iAuditor buddy product. The Company reported that the download count for its iAuditor was 1 million. In the same year, the Company was able to raise $60 million in its Series C funding round.
Last year, SafetyCulture, as well as its products, got rebranded highlighting the Company’s vision and values.
SafetyCulture’s Flagship Product:
SafetyCulture iAuditor is the Company’s flagship product that simplifies the audit process by making it easy for any individual to manage the safety and quality in an effective way using a mobile phone.
The frontline personnel are capable of reporting problems promptly to avoid an event as a result of incompetence & constrained visibility.
SafetyCulture’s Products:
- Inspection Software
- Temperature logging
- TeamTrain
- Spotlight
- Checklist App
- Checklist Maker
Recent Development: Secures $60.5 million
SafetyCulture has debuted as a new member of the Australian unicorn club after raising $60.5 million in new funding to reward early staff, hire more people & accelerate product development. With the raised capital, SafetyCulture is now valued at approximately $1.3 billion.
The staff members who have been associated with the Company for more than three years (that is ~10% of the total workforce) had the opportunity to cash out some of their equity. Over 50% of the new funding was made available to staff, who offered a fraction of their stocks to investors, and the residual portion of the fund would support the Company in its continued growth plans.
Luke Anear considers this as an exciting milestone for the Company. He feels immense pleasure that the Company is about to provide its staff an opportunity to sell a part of their equity as a reward for their efforts as well as devotion to the Company.
The Series C-1 funding round was controlled by Australian investors who were directed by TDM Growth Partners. Blackbird Ventures, Index Ventures, Skip Capital & previous Prime Minister of Australia, Malcolm Turnbull along with his spouse Lucy formed the part of this round. The total amount of investment raised by the organisation from 2014 till date exceeded $150 million.
Statement from Hamish Corlett, the partner at TDM Growth Partners:
As highlighted above, the C-1 funding round was controlled by Australian investors directed by TDM Growth Partners (TDM). TDM has earlier made investments in companies like Tyro Payments, Culture Amp, ROKT and Aconex.
In case of C-1 funding round, Hamish Corlett shared why TDM was interested in supporting this round. He explained that TDM travels worldwide and look for few fast-growing companies where it can support on their scaling journey. In the case of SafetyCulture, TDM is excited about helping Australian founders as well as their companies. Also, TDM is sure about the bright future of the Company.
SafetyCulture’s skill to safeguard funding was because of its constant growth throughout various industries as well as locations. Presently, it has 500,000+ people working for it. There are 26k businesses in 85 nations who use the iAuditor app to carry out 600+ million checks every year.
The extra funding would help the Company in the continuous growth of the business as it develops iAuditor from a checklist application to a strategic platform that links scattered teams, increasing security as well as quality benchmarks and at the same time making them further effective.
Presently, SafetyCulture has over two years of product & feature development scoped out and is recruiting product managers as well as software engineers to speed up the process of delivering the features requested by the clients. It includes improved analytics & Internet of Things sensors, as well as telematics skills. The business is also looking for opportunities to eliminate risk and lessen premiums for companies entering a partnership with insurance providers.
SafetyCulture’s Focus on COVID-19 Crisis:
In the present scenario where the economy is struggling with the COVID-19 pandemic, the focus of SafetyCulture is ensuring that it is taking all possible measures to assist its diverse customer base worldwide steer through the new challenges. Protecting its people in the present scenario is amongst the top priority of the Company.
Also, the Company has launched a series of tools to support employees across industries impacted by the coronavirus. These tools would help them remain above COVID-19 associated safety problems in the office. Also, the Company is providing six months of free usage to iAuditor Premium & other SafetyCulture products to people providing critical services to the community currently. These include people from healthcare, emergency, education as well as volunteer workers.
