SafetyCulture, the workplace operation platform with offices in Manchester, has raised $AU34 million (£17 million) in capital at an increased valuation of $AU2.7 billion (£1.35 billion).
The funding from Morpheus Ventures, Marbruck Investments, and Index Ventures will be used to accelerate the delivery of SafetyCulture’s strategy as we get set to make significant updates to our market-leading operations platform over the next six months.
Commenting on the news, SafetyCulture’s Founder and CEO, Luke Anear said: “We were presented with an opportunity to work with some of our existing investors and increase the stake they have in SafetyCulture. Raising $34 million on a $2.7 billion valuation was less than a 2% dilution, so it made sense for us to take up the opportunity and invest the funds into the acceleration of our product roadmap.”
“We’re continuing to see strong growth, which means that we can focus on building our product and reaching new customers. There are now over 75,000 businesses and more than 1.5 million workers worldwide using SafetyCulture’s workplace operations platform. I want to see that number become 100 million by 2032.”
Formerly known as the world’s largest checklist app, the SafetyCulture workplace operations platform has evolved to help users and businesses go beyond the realms of the safety and quality departments and be used organization-wide.
In addition to the core functionalities of inspections and incident response, new features and additional offerings like business insurance and a marketplace for workplace equipment and PPE will also allow the platform to be used by a much broader cross-section of workers.
A new function for asset management was recently released on the SafetyCulture platform, and it has exploded in popularity. Customers have already loaded over 600,000 assets on the platform and performed more than 500,000 inspections on them.
“Asset management was something we had on our original roadmap, and our customers are loving it. Our customers have really embraced assets, and the feature is now growing by more than 25% each month. Our focus over the next 12 months will be on releasing even more features like this which provide real value and will help us continue to reach new customers,” Anear said.
