AAA LiveSafe locks away $4m

LiveSafe locks away $4m

US-based mobile safety communications platform LiveSafe has received $4m in series A financing from and media and internet company IAC and Hearst Ventures, the corporate venturing arm of media group Hearst.

LiveSafe is a smartphone app and mobile safety communications platform that serves nearly a million users across college campuses, public arenas and businesses in the United States.

The LiveSafe app is customised for each client, university or corporation and allows users to communicate directly with local authorities about safety concerns.

The company revealed the funding at the same time as its appointment of a new CEO, Carolyn Parent, who previously held an executive vice president position at software provider Deltek.

Parent said: “Our mobile safety communications platform empowers people in businesses, colleges, and other organisations to quickly upgrade security.

“In a world where personal and organisational security feels increasingly at risk, today’s investment in LiveSafe by Hearst and IAC will allow us to more rapidly expand within our core enterprise and education markets.”

LiveSafe raised $6.5m in a March 2014 round led by IAC, after investment fund CIT GAP Funds had provided it with an undisclosed amount of seed capital the previous year.  

Scot English, managing director of Hearst Ventures, said: “We are investing in LiveSafe because we recognise them as a leader in providing that security in smart new ways.”

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