SafetyCulture, the Australian business software company that manages security and compliance checks at companies around the world, has raised $ 35.5 million with a valuation of $ 800 million in its latest round of funding.
According to a person familiar with the transaction, almost half of the new money was intended to provide liquidity to employee shareholders who had been with the company for three years.
The round was led by Australian growth capital investor TDM Growth Partners, with the participation of other local Australian investors such as Blackbird Ventures, Skip Capital (the firm created by Atlassian co-founder and executive co-chair Scott Farquhar and directed by his wife, Kim Jackson) and former Australian Prime Minister Malcolm Turnbull and his wife.
In total, the company has raised more than $ 100 million for its compliance software.
"This is an exciting milestone for us as a company, especially in uncertain times like these," SafetyCulture Founder and CEO Luke Anear said in a statement. "We are particularly pleased to give employees the opportunity to sell part of their wealth as a reward for all of their hard work and continued loyalty."
More than 26,000 companies in 85 countries use the iAuditor app to do security checks every year. The company has just crossed the positive cash flow threshold and has operations in Kansas City, Sydney, Townsville, Manchester and Manila.
The new funding will be used to continue the company's product development, as it appears to move from being a security checklist to a more robust collaboration and communication platform, the company said.
"Today's announcement continues what has been 12 months of hyper growth for SafetyCulture Americas headquarters in Kansas City," said Bob Butler, General Manager of SafetyCulture Americas. "The North American market currently represents about 40% of our customers and this significant capital injection allows us to accelerate product development for the items customers need, along with the talent and marketing necessary to scale our business to serve more. customers and have a greater impact on safety and quality for workers across the United States. "
In light of the COVID-19 epidemic, the company said it would offer its premium security audit product and other features free of charge for six months to healthcare, emergency, education and volunteer companies and nonprofit organizations.
Current SafetyCulture customers include: Emirates, Coca-Cola, GE, IKEA, Unilever, BHP Billiton and Accor. Safety culture.