Global technology company SafetyCulture has secured £85 million in funding to advance innovation for larger enterprise customers, enhance AI adoption, and recognise its long-term employees. The funding round, led by Airtree Ventures, values SafetyCulture at £1.3 billion.
In the UK, SafetyCulture’s workplace operations platform is utilised by more than 25,000 businesses, facilitating improved working practices and increased productivity. The company’s Manchester office, which accommodates its expanding EMEA team, serves a growing customer base that includes prominent organisations such as the NHS, National Grid, British Airways, and Transport for London. Announcing the completion of the funding round, SafetyCulture’s Founder and CEO, Luke Anear, stated, ‘We have now closed this round and are excited about the opportunities it creates for us to accelerate our growth and help even more customers. It’s a tough environment to be raising in, but we’re proud of the results the business is delivering and pleased that we can continue to create regular liquidity events for early investors and long-term employees.’
The funding round follows the launch of SafetyCulture’s workplace operations platform in October 2023, which introduced new functionalities in training, asset management, sensors, and IoT. With 85,000 businesses and nearly 2 million users globally, the platform is witnessing substantial growth. Customers are increasingly adopting the platform, resulting in record growth in sign-ups, and the average size of SafetyCulture’s customers has doubled in the last two years.
To support its global expansion and aim of reaching 100 million users by 2032, SafetyCulture has added over 100 new roles in the past six months, with more than 800 employees now working across six international offices. In 2023, SafetyCulture introduced AI-enhanced features such as mobile-first training course creation and instant inspection template generation from various prompts, images, or files. SafetyCulture believes there is considerable potential for AI to revolutionise the work of frontline employees. ‘We’ve only scratched the surface when it comes to transforming frontline work. Few tech companies have our direct reach to frontline workers across so many different industries, so we have both a responsibility and a massive opportunity to create significant change for these people,’ said Anear.
‘We’ve built the world’s largest repository of workplace data, containing over 5 petabytes of data and billions of images. AI is the way we can make sense of that information, and if we can harness it properly, we’ll effectively be able to give frontline teams superpowers that will completely change the way they work,’ Anear added.
Kell Reilly, Partner at Airtree Ventures, commented on the significance of this deal, stating, ‘Having tracked SafetyCulture’s journey to date, now is an opportune time to join them at this inflection point. SafetyCulture has all the hallmarks of Silicon Valley’s tech heavyweights – a compelling vision, product, scale, and team. We’re excited to partner with another Aussie success story that’s making waves on the global stage.’ The funding round was also joined by Blackbird and Morpheus Ventures.
With significant new funding, SafetyCulture is poised to further its global expansion and AI innovation, striving to pioneer advancements for frontline workers and enterprise customers alike.