HammerTech, a Melbourne, Australia, and Menlo Park, CA-based construction safety software company, raised $70 million in growth funding.
Investors
The investment was from Riverwood Capital, a technology-focused growth equity firm with $6.1 billion in assets under management. They invest in high-growth technology companies, providing operational, strategic, technology, and financial insight to help them scale globally. Founded in 2008, Riverwood has supported over 80 companies and has offices in Menlo Park, Miami, New York, and São Paulo.
HammerTech Use of Funds
The company will use the funds to integrate AI and advanced technologies into their platform, enhance safety intelligence software, and improve efficiency for construction site teams.
About HammerTech
Founded in 2013, HammerTech provides a safety intelligence software platform that facilitates onboarding, orientation, safety inspections, incident reporting, and job site compliance for construction teams. Trusted by over a million workers globally, HammerTech serves over 500 clients, including industry giants like Shawmut Design and Construction, DPR Construction, Hutchinson in Australia, and John Paul Construction in Europe. The platform has been deployed on over 20,000 construction projects worldwide.
Funding Details
Company: Hammer Technologies Pty Ltd.
Raised: $70.0M
Round: Growth Round
Funding Month: July 2024
Investors: Riverwood Capital
Company Website: https://www.hammertech.com/
Software Category: Construction Site Safety
Source: https://www.prnewswire.com/news-releases/hammertech-secures-us70-million-growth-investment-led-by-riverwood-capital-to-modernize-construction-site-safety-and-efficiency-globally-302197170.html