HammerTech, a leading provider of construction safety software, is poised for significant expansion and innovation with a AUD $105 million (US $70 million) growth investment led by Riverwood Capital, a prominent US-based technology growth investor.
The infusion of capital is earmarked to accelerate business growth and drive advancements in research and development. Key initiatives include the integration of AI and other cutting-edge technologies into HammerTech’s safety intelligence software platform, which currently safeguards over a million workers globally.
“This investment marks a pivotal moment in our journey, benefiting both our clients and the industry at large. Our focus remains steadfast on enhancing operational efficiencies through smarter workflows, positioning us at the forefront of construction technology to ultimately enhance safety on construction sites.”
Ben Leach, CEO and Co-Founder of HammerTech
Despite strides in safety, construction remains one of the most hazardous industries globally, with a high incidence of workplace fatalities that are often preventable.
Leach highlighted the critical evolution of technologies beyond mere digitization of forms in response to increasingly complex projects. He underscored their steadfast commitment to streamlining daily operations for site teams, enabling them to focus on safety and excel in their primary construction tasks. By leveraging advanced tools and methodologies, HammerTech aims to enhance efficiency and effectiveness across construction sites, thereby ensuring a safer and more productive working environment.
Riverwood Capital, in addition to providing financial backing, brings extensive experience in scaling technology enterprises globally, positioning HammerTech for continued expansion. Jeff Parks, Co-Founder & Managing Partner at Riverwood Capital, highlighted that HammerTech serves as the backbone for safety programs across some of the world’s most sophisticated construction firms. He noted that Ben and his team have established an exceptional business focused on delivering substantial value in an industry historically underserved by transformative technologies.
“We are thrilled to partner with such a visionary team as they embark on their next growth phase, extending their enterprise-wide safety intelligence software into new markets and customer segments. HammerTech’s platform excels in onboarding, safety inspections, incident reporting, and job site compliance, providing clear audit trails for retrospective analysis.”
Ramesh Venugopal, Partner at Riverwood Capital
Founded in 2013, HammerTech has demonstrated impressive growth, serving over 500 clients globally, including industry giants like Shawmut Design and Construction, DPR Construction, and Hutchinson in Australia, along with European leader John Paul Construction. The platform has supported more than 20,000 construction projects worldwide, facilitating the induction of over 3.6 million workers to date.
Following its initial investment in 2019, growth equity firm Arrowroot Capital will retain its stake in the Melbourne-headquartered company. With this new investment, Riverwood Capital will also gain representation on HammerTech’s board alongside Arrowroot Capital, reinforcing its commitment to guiding HammerTech through its ambitious growth trajectory.
