SafetyCulture's valuation leaps to $2.2 billion

Australian workplace safety startup SafetyCulture closed a $99 million funding round that valued the company at $2.2 billion, well up on its $1.3 billion "unicorn" valuation last April.

The company said in a statement that the latest funding round was led by Insight Partner and also counted contributions from existing investors Tiger Global, Index Ventures and Blackbird.

It enabled SafetyCulture to “smash past its previous ‘unicorn’ status from April 2020”; a unicorn is a privately held startup valued at over $1 billion.

SafetyCulture said it would use the new funds to “support the expansion of the business as it continues to evolve from a checklist app into an operations platform for working teams.”

This would include further developing the company’s technology and growing its staff.

“SafetyCulture’s employee base has grown 2.5 times in the last three years,” it said in a statement.

“[We] plan to continue the same hiring trajectory for the foreseeable future as it rapidly expands its global product and engineering teams.”