Herbert Smith Freehills' Venture Capital team has advised SafetyCulture on its acquisition of SHEQSY, a cloud-based lone worker safety app.
SHEQSY's app gives organisations visibility of their employees in the field to ensure their safety when alone. It also gives the workers access to a platform that powers real-time alerts to the organisation for missed check-ins, failing to finish a job as planned, and a quick duress alarm activation for peace of mind in case anything happens. The integrated suite helps workers feel safer when working alone, as well as allowing businesses to easily manage, monitor and report on their safety.
This acquisition follows SafetyCulture's investment in SHEQSY's seed funding round.
The Herbert Smith Freehills team was led by partner and Co-Head of Venture Capital Clayton James and senior associate Thomas Kelly, with a team including solicitors Vincent Greco Schwartz, Stephanie Simm, Katherine Duong, Sam Gonski, as well as senior associate Tess Mierendorff and support from Co-Head of Venture Capital Elizabeth Henderson.
Clayton James said, "This deal sees SafetyCulture continue on its impressive growth trajectory. We worked with SafetyCulture on its A$60.5 million Series C1 and A$99 million Series C2 capital raises, as well as its strategic acquisition of EdApp, and it is a pleasure to work with SafetyCulture on its development strategy as it expands.
"Congratulations to the SafetyCulture and SHEQSY teams on this next step in their partnership."
This deal is another example of Herbert Smith Freehills' market-leading work in the emerging tech sector and founder liquidity transactions. Other recent examples include:
- Mr Yum on its A$89 million Series A capital raise
- Linktree on its US$110 million capital raise in 2022 at a valuation of US$1.3 billion
- Atlassian's acquisitions of Code Barrel and ThinkTilt from the companies' founders
- Culture Amp on its A$120 million Series E capital raise and A$135 million Series F capital raise and secondary sale
- the A$125 million merger of thedockyard and Ansarada and capital raising, and the re-listing of the merged entity on the ASX
