Florida Funders backs Global Safety Management
Global Safety Management, a Tampa tech company that aims to make the workplace safer, has raised nearly $4.1 million in its latest funding round.
The new funding reflects a combination of capital from existing internal investors, as well as a new round of investment led by Florida Funders, a statement from the company said.
Global Safety Management, a software-as-a-service company founded by president and CEO Julia MacGregor-Peralta, is one of a relatively few women-led businesses to attract venture capital. Companies led by female founders attracted just 2.2 percent of the $130 billion in venture capital invested over the past year, according to Fortune.
GSM, which raised more than $3 million prior to its latest funding round, disclosed the new financial backing in a filing with the U.S. Securities and Regulatory Commission on March 29. The company still plans to raise about $900,000 in additional funding, the filing indicated.
The additional capital raise is expected to close by the end of April, the company said.
GSM now becomes one of nearly two dozen portfolio companies for Florida Funders, a hybrid venture capital fund and crowdfunding platform that invests in tech startups.
GSM said it will use the new funding for its continued growth.
The company develops safety data sheets that list each of the dozens or hundreds of chemicals that go into manufactured products. Manufacturers are mandated to include them with their products. GSM’s software can update the safety sheets in seconds, as opposed to the hours or days other firms require.
The company has attracted some high-profile talent. Its board of directors includes Tony DiBenedetto, co-founder and former CEO of Tribridge, a Tampa software company that sold to DXC Technology for $152 million in 2017. Jeff Lynn, former president of Tribridge, is chief operating officer at GSM, and Kevin Armstrong, former sales leader at Tribridge and DXC, is chief revenue officer at GSM. Trish Messina, a finance executive and management consultant, is chief financial officer.
GSM was named Startup of the Year at TiEcon Florida earlier this year.
