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Doubling down: SafetyCulture becomes a unicorn twice over with a valuation of US$1.6 billion (AUD$2.2 billion)

SafetyCulture News | By | 29 Apr 2021 | 2 minute read

Defying a year of worldwide lockdowns and an economic slowdown, SafetyCulture’s valuation soars after a $73M USD funding round led by Insight Partners. Now it begs the question… what’s next?

One year ago, SafetyCulture hit a major milestone as we joined the Australian unicorn club. Since then, our valuation has nearly doubled and so has our unicorn status — we’re now officially part of the unicorn club in the United States!

Our latest funding round was led by Insight Partners, a leading global ScaleUp software investor, and joined by existing investors Tiger Global, Index Ventures and Blackbird

Back in April 2020, the world had just gone into lockdown and the future was uncertain. But thanks to the tireless efforts of everyone company-wide, we were able to trade that uncertainty for explosive growth.

We recently surpassed 100 million completed inspections in our flagship product, iAuditor

We helped organizations navigate the pandemic, compiling our knowledge in a free COVID-19 Resource Hub

75,000 people worldwide are using iAuditor to complete daily COVID-19 inspections.

Our company has grown 2.5 times in the last three years alone.

We’ve attracted over 1.5M users to sign up to its platform in more than 85 countries

Safe to say, it’s been a big year. But even with our new valuation of $1.6B USD ($2.2B AUD), we’re only just getting started. 

“This new funding allows us to continue that momentum,” said Founder and CEO, Luke Anear.  “It also allows us to invest in the development of our platform which will ensure the information captured by workers can easily be acted upon to improve quality, efficiency, and safety in the workplace.”

What’s next? 

Not too long ago, everything we’ve achieved to date wouldn’t have seemed realistic. When we decided to build a risk assessment app in 2011, unicorn status wasn’t on the table — we were too focused on getting the tech off the ground! 

That only proves that we’re only beginning to realize the potential of what’s ahead. We often overestimate what we can do in the span of 12 months, but greatly underestimate our long-term vision — be it in 5 or 10 years. As Luke puts it, the opportunity in front of us is greater than it’s ever been. 

“Strategic growth investments and acquisitions will remain a key focus. Following the acquisition of online microlearning app, EdApp, last year, we’re looking at other great innovations which will transform the experience for millions of working teams around the world.”

Luke Anear, Founder and CEO

“Our Talent Acquisition team has never been busier. SafetyCulture’s employee base has grown 2.5 times in the last three years. Our commitment is to ensuring that our award winning culture keeps pace as we scale to meet the opportunities ahead of us.”  

Anna Wenngren, Chief People Officer

As we continue to build out a world class operations platform, we need to make sure our engineering is focused on solving the right customer problems while at the same time building a secure and scalable technology platform.”

James Simpson, Chief Technology Officer

“SafetyCulture’s growth is testament to the company’s deep understanding of the challenges working teams face in distributed work environments and their ability to consistently deliver innovative solutions to help these businesses improve every day. It has been phenomenal to see what the SafetyCulture team has achieved over the last few years. We’re thrilled to be supporting such a passionate and dedicated team deliver great solutions to the working world.”

Teddie Wardi, Managing Director at Insight Partners.

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