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SafetyCulture given $1.6B valuation with new funding

The tech company recently secured $73 million in a new round of funding and along with it a $1.6 billion valuation. SafetyCulture houses its North American headquarters in the Crossroads neighborhood of Kansas City. Its 2021 valuation is around double from last year’s $800 million.

SafetyCulture’s new $73 million funding round and $1.6 billion valuation only mean more growth for its North American headquarters in Kansas City.

The Australian tech company developed safety and quality management software that can be accessed from a mobile device. Some of the features include the ability for frontline workers to quickly report issues to prevent an incident and smart checklists for inspections and risk assessments.

Last year, SafetyCulture added a new offering with the $29 million acquisition of New York-based EdApp, an online microlearning app that allows a company’s employees to complete micro-training lessons on a smartphone.

SafetyCulture’s recent funding round will allow it to pursue additional strategic growth investments and acquisitions, as well as continue its momentum, Butler said. Its customer base includes about 28,000 companies.

The $73 million round, which closed a few weeks ago, was led by New York-based Insight Partners, a global venture capital and private equity firm that invests in high-growth technology and software companies.

SafetyCulture’s new $1.6 billion valuation nearly doubles its valuation from April 2020.