SafetyCulture announced that the company has raised $23 million in a Series B funding round yesterday. The funding round was led by Index Ventures and Blackbird Ventures and was the first for the company since 2014.
The company works to change the way quality assurance is handled.
SafetyCulture’s main app is iAuditor. The app is an inspection platform that has helped with over 1 million inspections per month. The high usage of the app has allowed the company to collect data to create a quality database which can be mined.
Users can use the app to find out how to change their rating with the Health Department, for example.
The funding round will be used to help the company expand its operations and share data with users in a new way. The goal is to improve quality and reduce risk in the workplace. Employers allow employees to use the app as a way to take responsibility for safety and quality.
The Australian company has users across the world, with large user bases in Australia and the United States. Companies can make compliance checklists or analyze the data from on-site inspections and use all of this data to better their company in the future.
SafetyCulture employs 75 people across offices in the United States, United Kingdom and Australia. The company expects this number to double in the next twelve months as a result of the funding round.
The company is not profitable yet.
Funding will help the company accelerate its growth and path to profits. The company acknowledged that the competition in the field has doubled in the past year. An increase in competition will slow the company’s goal of becoming profitable. For now, SafetyCulture will focus on its mobile-first approach while expanding operations.
The startup started in the garage of Luke Anear, CEO, and has grown to employ over 75 people in four years.