The funding helped SafetyCulture’s valuation hit the $1.6B mark. Here are the top-line bullets you need to know.
SafetyCulture, a workplace quality and safety management company, has raised $73M in Series D funding from investors such as Tiger Global Management, Insight Partners, Index Ventures, and Blackbird Ventures.
How’s the company performing?
- Sydney-based SafetyCulture provides businesses with quality and safety tools to drive improvements in the workplace.
- The company has more than 1.5M users on its platform from over 85 countries. More than 28,000 business currently use SafetyCulture’s mobile-first platform. Its mobile and web app, iAuditor recently surpassed 100M inspections.
- It currently has more than 500 employees, a number which has more than doubled in the last 3 years.
- In September 2020, SafetyCulture acquired EdApp, a learning management system, for $29M with a plan to offer “micro-learning” resources to workers across industries.
Why does the market matter?
- The quality management market is growing at a CAGR of 10.1% and is expected to reach $17B by 2027, according to Research and Markets.
- The pandemic-induced demand across industries for technology support for Covid-19 safety and quality protocols has fueled the growth of the market.
- Technological advancements across the IT and telecom industries coupled with automation across transport and logistics sectors are acting as key enablers of growth.