SafetyCulture raises $110 million

SafetyCulture has closed a $AU165 million funding round ($110 million), led by Airtree Ventures, valuing the company at $AU2.5 billion ($1.6 billion). This round marks the largest initial investment by Airtree Ventures and includes participation from existing investors like Blackbird, Morpheus Ventures, and Australian Super Funds, including Hostplus and HESTA via Blackbird.

The funding will help SafetyCulture grow into bigger enterprise markets, speed up its use of AI, and provide benefits to its long-term employees.

The funding comes after the launch of SafetyCulture’s enhanced workplace operations platform in October 2023, which added features like training, asset management, and IoT functionality. With 85,000 businesses and nearly 2 million users globally, the platform has seen record growth in user adoption, with the average customer size doubling over the past two years. To support its expansion, SafetyCulture has added 100 new roles, bringing its total workforce to over 800 employees across six offices worldwide.

When it comes to insurance, the company’s insurance subsidiary is partnered with Employers.

Bottom Linr: “An iconic Aussie software business.”