SafetyCulture aims to move beyond the checklist with major product overhaul
One of Australia's unicorns has launched its most ambitious product update yet.
SafetyCulture CEO and founder Luke Anear has elaborated on plans to allow early investors and employees to cash in on hundreds of millions of dollars in shares next year, as the company unveiled its most ambitious product overhaul to date.
The 10-year-old, Sydney-based technology company is aiming to move beyond being just a "checklist app" used by safety departments in companies to becoming a company-wide operations platform. Anear described the launch as “the beginning of a massive transformation for SafetyCulture, the company that it's been will not be the company it's about to become”.
SafetyCulture is one of a handful of 'unicorns' in the Australian startup sector, having last raised $34 million earlier this year at a $2.7 billion valuation. The company has previously flagged plans to sell up to $500 million in existing shares through a secondary next year.
“We will look to do a bigger funding round next year that could potentially bring in three, four, or five hundred million dollars,” he says. “Until now, people haven't had the opportunity to invest that sort of amount in SafetyCulture; the maximum any investor has put in was $30 million. So for us to now be able to say that we can actually put together a larger investment package opens up the possibility of bringing in other, larger funds as well.”
