US-based risk management software provider LiveSafe has raised $11m in series B-1 funding from investors including media group Hearst, internet company IAC and GXPI, the investment vehicle for energy utility Evergy.
Investment manager Enterprise Investment Partners, venture capital firm Revolution’s Rise of the Rest seed fund, the Kilberg family and private investor Dave Duffield also participated in the round.
LiveSafe has created a risk intelligence platform that gives early warnings of security and safety risks, helping businesses tackle issues earlier. It will use the cash for product development and sales and marketing as it looks to form more strategic partnerships.
The round brought LiveSafe’s overall funding to about $27m and follows an investment of almost $5.3m by Frederick Smith, founder and CEO of logistics firm FedEx, in 2016.
CIT Gap Funds had supplied an undisclosed amount of seed capital for LiveSafe in 2013, before the company raised $6.5m in a 2014 series A round led by IAC. It added $4m in an initial series B co-led by IAC and Hearst the following year.
