Detroit startup Guardhat just announced on January 5, 2021 that they raised Series B funding. The amount is undisclosed, but this new round will bring the company's total funding to over $41.9 million. This Series was led by General Catalyst, Durable Capital Partners LP and Annox Capital. Caterpillar, Sallyport Investments, LLC, and Barton Malow also participated in the round, joining existing investors Mesh Ventures, Detroit Venture Partners, 3M Ventures and RTP Ventures, among others.
Guardhat, a top Detroit startup to watch in 2021, is a pioneer in Internet of Things (IoT) safety technology for the global industrial workforce.
"Workplace safety is a global challenge with millions of people injured on the job every year. It's an economic issue but more importantly, it's a human and quality of life issue," Brian Ru, investor at General Catalyst, said in a press release. "The team at Guardhat is developing technology-based solutions that draw on their deep industrial experience to improve outcomes for just about any workplace in which safety and productivity intersect. It's an important mission and we're honored to be working with them."
At the end of 2020, TIME named their smart hard hat one of the best inventions of the year.
"This past year was a testament from both the customer side and investor side that making frontline workers safer and more productive is foundational," said Saikat Dey, CEO of Guardhat. "We are humbled by the caliber of partnerships we've forged and hope more will join us on this journey of defining what a connected worker solution should be."
Guardhat has seen a lot of growth since its inception in 2014. Revenue has increased about 3x year-over-year, and Guardhat is planning to double the size of its team by the end of this year. The company will use this investment to support continued growth.
Part of that growth has to do with hiring. Guardhat is looking to grow their team in sales, product management, marketing, human resources, deployment, and engineering.