SafetyCulture raises $60.5m in capital

By Tony Zhang|20 April 2020
Peter Dunne

Herbert Smith Freehills has advised SafetyCulture on a $60.5 million Series C1 capital raise and secondary sale.

Firms: Herbert Smith Freehills (SafetyCulture) 

Deal: Herbert Smith Freehills’ private equity and venture capital team has advised SafetyCulture on its $60.5 million Series C1 capital raise and secondary sale based on a $1.35 bill pre-money valuation.

SafetyCulture is a market-leading and innovative company that enables companies and workers to effectively manage safety and quality in workplaces from a mobile device.


Value: 60.5 million.

Area: Venture capital.

Key players: The Herbert Smith Freehills team was led by partner and head of venture capital Peter Dunne and solicitor Lisa Alderson. 

Deal significance: This new capital will be employed to continue to fund the rapid growth and expansion of the company. Secondary capital was given back to long-term employees to reward their hard work and loyalty to date.

The round was led by TDM Growth Partners with co-investors including Blackbird and Index Ventures.


Ms Alderson said, “This was an intense deal. SafetyCulture is an amazing business, and its growth trajectory is incredible. Everyone on the deal team was under significant pressure to close the deal efficiently. 

It was brilliant working closely with Luke Anear, SafetyCulture’s CEO and founder and Kate Pullinger SafetyCulture’s chief of staff. They were extremely professional and maintained a sense of engagement and calmness throughout.”

Over 26,000 companies in 85 countries use the iAuditor app to make safety checks every year. The company just crossed the cash flow positive threshold and has operations in Kansas City, Sydney, Townsville, Manchester and Manila.

SafetyCulture chief of staff and company secretary, Kate Pullinger said, “It was a pleasure working with Peter and Lisa on the Series C1 transaction. Both were extremely responsive and provided pragmatic, commercial advice in a timely matter. 

“No easy feat in light of the tight timeframes and unprecedented challenges facing the company and the Australian economy as the COVID-19 crisis unfolded. I look forward to working with them again in the future.”

SafetyCulture raises $60.5m in capital
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