With its recent expansion, safety software company aims to take safety to a whole new level
Risk management solution company Alcumus has secured new strategic investment from Apax Funds. The company says that this new partnership will help turbo charge its global expansion.
“Right now, I think we have a really good product portfolio and we’re hoping to expand in certain areas of the business for the benefit of our customers and the industries we serve.” says Tyler Davey, CEO, Alcumus, North America.
With this new investment, Alcumus plans on going deeper into some of these areas, “We’re going to prioritize and go far richer with the experience that customers get so that they can drive a safer outcome across the entire organization,” says Davey.
Davey notes that Apax Partners LLP (“Apax”) is interested in scaling the growth of Alcumus, and helping it develop a stronger presence around the globe. This growth will allow the company to develop its tech faster and expand into more markets – ultimately keeping more workers safe globally.
He says that everything the company is doing over the next few years “increases managing a 360-view of their business for customers so that they have one system they can use to drive safety across the entirely of their organization and manage, predict, and mitigate risk.”
With more backing, Alcumus will be able to substantially invest in product development to expand and improve its offering for safety professionals.
Through its expansion, Alcumus has managed to double the size of its engineering and product teams and grow “exponentially” on the research and development side. “When I think of what this means to us, what we’re getting at this stage is more help and accelerated growth – both for our customers and for our products,” says Davey.
“From a Canadian perspective, we are going to see far more products coming to market quicker. We have a very all-encompassing product portfolio and with this investment, it allows us to fast-track our globalization plan to help our customers to realize the benefit of keeping their workers safer through different mechanisms.”
Davey says that Apax want to help bring these new tech developments to a wider audience, where “it will help to supercharge safety within the organization. We’re thrilled to be partnered with them.”
