AAA LiveSafe treasures Smith investment

LiveSafe treasures Smith investment

LiveSafe, a US-based mobile safety communications platform backed by media companies Hearst and IAC, received $5.25m in series B capital on Tuesday from Frederick Smith, the CEO, president and chairman of logistics provider FedEx.

Smith will join LiveSafe’s board of directors as part of the deal.

Hearst and IAC supplied $4m in series B funding for LiveSafe in December 2015 and a regulatory filing reveals the company was not seeking additional investment for the round at the time.

Founded in 2012, LiveSafe operates a smartphone app and communications platform aimed at keeping people safe across campuses and public spaces. Users can alert others to suspicious activities while organisations can send mass notifications about threats.

IAC previously led a $6.5m series A round in 2014, following an undisclosed amount of seed funding provided by CIT Gap Funds, an investment fund backed by the state of Virginia, in 2013.

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