Safehub announces $5M in Seed funding
Safehub , a global platform founded by structural engineers and catastrophic risk management veterans to deliver real-time, building-specific earthquake damage information, announced the close of a $5 million seed funding round co-led by Fusion Fund and Ubiquity Ventures. Bolt, Promus Ventures, Blackhorn Ventures, Maschmeyer Group Ventures, and Team Builder Ventures also participated in the round. Safehub will use the capital to accelerate deployment to Fortune 500 companies seeking to strengthen their business continuity and resilience efforts.
Safehub employs a combination of sensors, analytics, and third-party data to provide real-time, building-specific earthquake damage information. Their low-cost, easy-to-install sensors measure earthquake ground motion and building response, as well as changes in building natural frequencies. Together, this information is used to estimate damage to the building and related business interruption losses. In the event of an earthquake, the Safehub platform sends actionable damage alerts and financial loss estimates via text messages, email alerts, and a web dashboard – all within a matter of minutes post-event.
“Our vision is a safer and more resilient world. In the event of a natural disaster, organizations need timely and detailed information to get ahead of potential downtime and business interruption losses. With our platform, business continuity and emergency response professionals can understand the extent of the problem remotely, and prioritize damage assessments with building-specific data. With our new investors, we gain the right strategic partners to scale the impact of our technology and improve the resilience of more organizations.” – Andy Thompson, CEO of Safehub.
“We work with forward-thinking companies who have both a technical and data advantage in their business model. The Safehub platform enables corporate resilience and business continuity professionals, who historically have relied on generic data from publicly available sources, to harness the power of Safehub’s sensor data in real-time to assess damages and reduce business interruption losses. This combined sensor and software solution has the potential to help organizations both identify and prioritize resources during disaster response operations.” – Lu Zhang, founder and managing partner, Fusion Fund.
“Software is leaping beyond the screen to solve more concrete business problems in the real world. Safehub uses smart hardware to help the largest companies in the world manage and monitor their buildings and offices to increase their resilience — a pain we are seeing magnified during COVID.” – Sunil Nagaraj, managing partner, Ubiquity Ventures.
