Earthquake-monitoring platform Safehub raises $9M

29 Apr, 2021

Earthquake-monitoring platform Safehub raises $9M
Photo by Karen Uppal on Unsplash

– Safehub, a startup developing an internet of things platform to monitor the structural integrity of buildings, today announced the closure of a $9 million series A round led by A/O PropTech.
– The company says it will use the capital to expand its platform and acquire new customers, as well as growing its engineering team.
– A recent FEMA study pegged U.S. losses from earthquakes at $4.4 billion per year. Each year, there are on average about 15 earthquakes with a magnitude of 7 or greater, strong enough to cause damage in the billions and significant loss of life.
– In spite of this, more than 60% of U.S. small businesses don’t have a formal emergency-response plan and fail to back up their sensitive data offsite.

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