Safehub Announces $5 Million in Seed Funding
Sensor-Based Data Analytics Company Helps Organizations Expedite Emergency Response and Reduce Business Interruption in the Wake of Natural Disasters
SAN FRANCISCO, July 23, 2020 /PRNewswire-PRWeb/ -- Safehub, a global platform founded by structural engineers and catastrophic risk management veterans to deliver real-time, building-specific earthquake damage information, announced the close of a $5 million seed funding round co-led by Fusion Fund and Ubiquity Ventures. Bolt, Promus Ventures, Blackhorn Ventures, Maschmeyer Group Ventures, and Team Builder Ventures also participated in the round. Safehub will use the capital to accelerate deployment to Fortune 500 companies seeking to strengthen their business continuity and resilience efforts.
Safehub employs a combination of sensors, analytics, and third-party data to provide real-time, building-specific earthquake damage information. Their low-cost, easy-to-install sensors measure earthquake ground motion and building response, as well as changes in building natural frequencies. Together, this information is used to estimate damage to the building and related business interruption losses. In the event of an earthquake, the Safehub platform sends actionable damage alerts and financial loss estimates via text messages, email alerts, and a web dashboard – all within a matter of minutes post-event.
"Our vision is a safer and more resilient world," said Andy Thompson, CEO of Safehub. "In the event of a natural disaster, organizations need timely and detailed information to get ahead of potential downtime and business interruption losses. With our platform, business continuity and emergency response professionals can understand the extent of the problem remotely, and prioritize damage assessments with building-specific data. With our new investors, we gain the right strategic partners to scale the impact of our technology and improve the resilience of more organizations."
"We work with forward-thinking companies who have both a technical and data advantage in their business model," said Lu Zhang, founder and managing partner, Fusion Fund. "The Safehub platform enables corporate resilience and business continuity professionals, who historically have relied on generic data from publicly available sources, to harness the power of Safehub's sensor data in real-time to assess damages and reduce business interruption losses. This combined sensor and software solution has the potential to help organizations both identify and prioritize resources during disaster response operations."
"Software is leaping beyond the screen to solve more concrete business problems in the real world," said Sunil Nagaraj, managing partner, Ubiquity Ventures. "Safehub uses smart hardware to help the largest companies in the world manage and monitor their buildings and offices to increase their resilience -- a pain we are seeing magnified during COVID."
To learn more about Safehub, visit http://www.safehub.io.
About Safehub
Based in San Francisco, Safehub provides organizations with real-time, building-specific earthquake damage information to expedite emergency response and recovery. Through its cloud-based Safehub platform, business continuity and resilience managers are able to prioritize building assessments and resources while resuming operations as quickly as possible. For more information, please visit http://www.safehub.io.
SOURCE Safehub
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