SafetyCulture, the Australian enterprise software company that manages security and compliance checks, has raised $35.5 million at an $800 million valuation in its latest round of funding.
The round was led by TDM Growth Partners, with participation from other local Australian investors like Blackbird Ventures, Skip Capital and former Australian prime minister Malcolm Turnbull and his wife.
The company has raised over $100 million for its compliance software.
“This is an exciting milestone for us to achieve as a company, especially during uncertain times like these,” SafetyCulture founder and CEO Luke Anear said in a statement. “We’re particularly happy about giving employees the opportunity to sell some of their equity as a reward for all their hard work and continued loyalty.”
Over 26,000 companies in 85 countries use the iAuditor app to make safety checks every year.
The new funding will be used to continue the company’s product development as it moves from being a security and safety checklist to a more robust collaboration and communication platform.
“Today’s announcement continues what has been 12 months of hyper growth for SafetyCulture’s Americas headquarters in Kansas City,” said Bob Butler, General Manager of SafetyCulture Americas. “The North American market currently makes up around 40% of our customers and this significant injection of capital enables us to accelerate product development for items customers need, along with the talent and marketing needed to scale our business to serve more customers and have a greater impact on safety and quality for workers all around the U.S.”