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Draft:SafetyCulture

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SafetyCulture
FormerlyiAuditor
Company typePrivate
IndustryTech, Business/Productivity Software
Founded2004 (originally iAuditor - rebranded to SafetyCulture in 2019)
FounderLuke Anear
HeadquartersSydney, Australia
Key people
Products
  • SafetyCulture Care (Insurance),
  • SafetyCulture Marketplace (e-Commerce)
  • SC Training
  • SC Lone Worker
  • SC Connect (Sensors)
Websitesafetyculture.com

SafetyCulture is an Australian technology company headquartered in Sydney, founded by Luke Anear in 2004.[1][2] The company, operating under the SaaS through the mobile app iAuditor, specializes in mobile-first and IoT technology for occupational safety and health and quality management. The company's regional offices are in Kansas City, Manchester, and Manila.[3] As of 2024, SafetyCulture has raised over A$350 million in venture capital funding, achieving a valuation of approximately A$2.5 billion.[4]

History

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SafetyCulture was founded in 2004 by Luke Anear in Townsville, Queensland, initially operating out of his garage.[5] In 2014, SafetyCulture secured a Series A investment of A$6.1 million led by Blackbird Ventures and Atlassian co-founder Scott Farquhar, supporting its growth beyond Townsville.[6] The company opened a Sydney office in 2015.[7]

By 2016, SafetyCulture expanded internationally with offices in San Francisco, Kansas City, and Manchester. In October 2016, it raised $30 million in a Series B funding round led by Index Ventures, valuing the company at approximately $160 million post-money.[8] In 2017, SafetyCulture established a support office in Manila, Philippines.[3] In 2018, the company raised A$60 million in a Series C round.[9]

The following year, 2019, SafetyCulture rebranded its corporate identity and expanded its Manila operations, forming an SEO team and announcing a joint venture with QBE Insurance named Mitti.[10]

In 2020, SafetyCulture and QBE officially launched Mitti.[11] SafetyCulture reached unicorn status with a valuation around A$1.3 billion and made its first acquisition, EdApp, a microlearning startup. In 2023, SafetyCulture raised $34 million in funding from Morpheus Ventures, Marbruck Investments, and Index Ventures, raising its valuation to approximately $2.7 billion.[12]

Products and Services

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SafetyCulture's primary product, originally launched as iAuditor, is a comprehensive mobile and web-based platform designed to facilitate digital safety inspections, quality audits, and incident reporting. Users can easily create customized checklists, capture photographic evidence, flag issues, and generate detailed reports instantly.[13]

SafetyCulture Care (Insurance)

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SafetyCulture Care, originally launched as Mitti in 2020 in collaboration with QBE, became fully controlled by SafetyCulture in 2023, partnering with Allianz for underwriting support. This service offers specialized insurance and risk management solutions targeted at small and medium-sized businesses and is distributed through insurance brokers.[14]

Acquisitions

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SafetyCulture has made several acquisitions to expand its products and enter new markets. In September 2020, it acquired EdApp, a Sydney-based startup that offers a learning management system and content library,[15] which became the basis for its employee training feature.[16] In April 2022, SafetyCulture bought SHEQSY, a safety app for workers who are alone, which includes features like check-in timers and emergency alerts. [17][18] Its technology (including check-in timers and emergency alerts via a mobile app) was integrated to enhance SafetyCulture's solutions for field workers and those working remotely or in high-risk solo roles.[19] This technology was added to SafetyCulture’s tools for field workers and people in high-risk jobs. In 2023, SafetyCulture took full ownership of its insurance joint venture, Mitti, by buying the remaining 50% stake from QBE, allowing it to operate the business independently and rebrand it as SafetyCulture Care. SafetyCulture has also made minority investments in other tech companies, like Unleash Live.[20][21] an AI video analytics firm, and Inauro, an IoT platform.[22][23]

Growth and Market Presence

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By 2023, SafetyCulture reported serving over 75,000 organizations globally, a number that increased to approximately 85,000 business customers in 2024. Notable global clients include major enterprises and public agencies such as the National Health Service (NHS), National Grid, British Airways, Transport for London, Qantas, Shell, Hilton, and NASA.[24]

SafetyCulture's strategic focus has increasingly emphasized sustainable growth and profitability. In 2023, the company narrowed its losses to $36 million over the financial year, with revenues rising to $160.6 million.[25]

References

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  1. ^ "SafetyCulture 2025 Company Profile: Valuation, Funding & Investors". pitchbook.com. Retrieved 2025-03-05.
  2. ^ Swan, David (2024-11-18). "From a garage to a $2.5b start-up: SafetyCulture founder steps down". The Sydney Morning Herald. Retrieved 2025-03-05.
  3. ^ a b "SafetyCulture Expands Operations in Manila". Philstar.
  4. ^ "SafetyCulture valued at $2.5 billion after $165 million funding round". Forbes Australia. 2024-09-09.
  5. ^ "SafetyCulture founder Luke Anear: from Townsville garage to global success". Australian Financial Review. 4 May 2021.
  6. ^ "SafetyCulture raises $6.1M Series A". TechCrunch.
  7. ^ "SafetyCulture opens Sydney office". Business News Australia.
  8. ^ "SafetyCulture raises $30M Series B". TechCrunch. 18 October 2016.
  9. ^ "SafetyCulture Raises $60 Million". Australian Financial Review.
  10. ^ "New business insurance arm' launches with brokers at its heart". Insurance Business.
  11. ^ "SafetyCulture and QBE launch Mitti insurance". QBE.
  12. ^ "SafetyCulture Raises $34 Million in 2023". Australian Financial Review.
  13. ^ Lomas, Natasha (18 October 2016). "SafetyCulture's mobile safety management SaaS pulls in $23M Series B, led by Index". TechCrunch.
  14. ^ "SafetyCulture Care launches with Allianz-backed capacity - Insurance News - insuranceNEWS.com.au". Insurance News. 20 March 2023. Retrieved 16 April 2025.
  15. ^ Waters, Cara (14 September 2020). "SafetyCulture snaps up training startup EdApp in maiden acquisition". The Sydney Morning Herald. Retrieved 16 April 2025.
  16. ^ Thomsen, Simon (14 September 2020). "Workplace tech unicorn SafetyCulture buys EdApp in $40 million deal". Startup Daily. Retrieved 16 April 2025.
  17. ^ Healey, Bianca (5 April 2022). "SafetyCulture grows its workforce safety products with $6 million acquisition of SHEQSY". SmartCompany.
  18. ^ "SafetyCulture Acquires SHEQSY | SME Media". SME. Retrieved 16 April 2025.
  19. ^ Smith, Paul (4 April 2022). "Start-up buys start-up as Aussie unicorn plans for valuation crunch". Australian Financial Review. Retrieved 16 April 2025.
  20. ^ "SafetyCulture's blend of insurance and workplace risk management". www.insurancebusinessmag.com. Insurance Business. Retrieved 16 April 2025.
  21. ^ "SafetyCulture Care launches with Allianz-backed capacity - Insurance News - insuranceNEWS.com.au". Insurance News. 20 March 2023. Retrieved 16 April 2025.
  22. ^ Sier, Jessica (6 September 2021). "Start-up unicorn turns investor in $8m deal". Australian Financial Review.
  23. ^ Sier, Jessica (5 June 2022). "SafetyCulture's monster strategy takes shape with $3m IoT deal". Australian Financial Review. Retrieved 16 April 2025.
  24. ^ "SMG and SafetyCulture partner to help brands ensure business operations are built to exceed customer expectations". SMG - Japan. Retrieved 2025-06-02.
  25. ^ "Workplace app firm SafetyCulture narrows losses, but profit elusive". Australian Financial Review. 2024-10-28.
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