Insurance company QBE’s early-stage investment arm has joined forces with local tech unicorn SafetyCulture to form Mitti, a company aimed at reimagining the traditional relationship between businesses and insurance.
Technology unicorn SafetyCulture is buying Sydney-based startup EdApp, capping off its maiden acquisition in a deal that values the online training app at $40 million.
SafetyCulture secured $60.5 million in funding, taking its valuation to $1.3 billion and entering into Australia’s unicorn club alongside tech companies Canva, Culture Amp and Atlassian.
One of the newest Aussie tech unicorns, SafetyCulture, has seen a substantial uptick in users since the middle of April. While SafetyCulture traditionally focused on industries people would typically consider hazardous – like mining, manufacturing and construction – the coronavirus has shifted this idea.
Fast-growing Australian technology company SafetyCulture has blasted through the $2 billion valuation mark following one of the largest venture capital funding rounds of the year, led by New York-based Insight Partners.
Luke Anear, the founder and CEO of SafetyCulture, was invited to speak at the Australian Financial Technology and Regulatory Technology Select Committee. The inquiry examines how Australia can better foster startup culture and further its growth. This is Luke’s opening address on how to support the technology industry in Australia.
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