Airtree Ventures (led round; Blackbird, Morpheus Ventures, Hostplus and HESTA also participated) → SafetyCulture
completedWorkplace inspection and operations software company SafetyCulture raised A$75 million in new primary capital, led by Airtree Ventures, as part of a broader round that also included A$90 million in secondary share sales, valuing the company at A$2.5 billion.
Airtree Ventures made its largest-ever initial investment in a portfolio company, backing SafetyCulture's push into AI features and larger enterprise customers.
SafetyCulture raised the round to fund continued enterprise product development and AI adoption, while also providing liquidity to long-term employees and early investors through the secondary component.
Not applicable — SafetyCulture is privately held and not listed.
Deal mechanics
Implied valuation of A$2.5 billion, down from A$2.7 billion in the company's prior August 2023 raise