SafeTrek Raises $3.2M Series Seed Preferred Round to Build Personal Safety
Financing Led by Cultivation Capital with Participation from NEA, Maveron, Aspect
ST. LOUIS (MO) August 30, 2017 – SafeTrek, a leading personal safety focused technology company, today announced it has closed a $3.2M Seed round of financing led by Cultivation Capital, with participation from global venture capital firm New Enterprise Associates (NEA), Maveron (former Starbucks’ CEO Howard Schultz’s venture firm), and Aspect–a 100% women-founded venture firm. Collectively, these firms boast more than 216 IPOs and 388 acquisitions, making this one of St. Louis’ most high-profile venture rounds to date.
SafeTrek is helmed by 26-year-old standout CEO Zach Winkler, who was just recently named to St. Louis Business Journal’s 30 under 30 list. “Every decision we make is about furthering our mission to protect and comfort people so they can live freely.” said Winkler. “This investment empowers us to grow beyond our flagship mobile application into a connected safety platform – delivering that same peace of mind through products (medical, home, automotive, fitness) used in everyday life.”
SafeTrek relocated from San Diego, CA to St. Louis 18 months ago and has since achieved pivotal milestones that include: launching their connected safety platform with key integrations like Nest (acquired by Google), executing partnerships with notable institutions such as Washington University, and demonstrating impressive usage of their products with an estimated 40,000+ emergencies handled. This past spring, the company was named the number three startup on CNBC’s national Upstart 25 List.
As the business has grown, so has the team. Originally four founding team members (Zach Winkler, Aaron Kunnemann, Brittany Dameron, Nick Droege), they now have more than 10 full-time employees and expect to double to 20 by 2018. In addition to hiring, the new capital will support SafeTrek’s new platform expansion and key product enhancements.
“We spent a significant amount of time with investors across the nation to find the right fit,” said Co-Founder, Nick Droege. “We’re proud of the group we’ve assembled. They have unparalleled experience in growing companies, a vast network of valuable resources, and a genuine shared passion for making the world a safer place.”
Cultivation Capital previously led a convertible note round in SafeTrek in March 2016. “The traction and growth SafeTrek has achieved in a short amount of time is remarkable,” said Cultivation Capital Managing Partner Brian Matthews. “We feel honored to support such a talented team.”
The impressive quality of the product drew the attention of new investor NEA. “As a SafeTrek user myself, I was eager to connect with the company” said Vanessa Larco, Partner at NEA. “The ever-growing prevalence of devices and availability of data have created a huge opportunity; SafeTrek is harnessing this information to make emergency services more effective and efficient. We’re thrilled to partner with the team as they continue to empower users as a pioneer in personal safety technology.”
SafeTrek uses advanced technology to keep people safe. The company focuses on building personal safety solutions for the modern world. Launched four years ago as a mobile application, SafeTrek has since expanded beyond a consumer application— partnering with products and services to enable automated emergency response for their users via a proprietary API and platform that was originally developed to support the use of their mobile application. SafeTrek is the only company of its kind with technology that works everywhere in the United States, allowing users to get real-life help in the event of threats or emergencies, without requiring a 911 call or the ability to talk or text.
About Cultivation Capital
Cultivation Capital is a venture capital firm that supports extraordinary entrepreneurs. Cultivation Capital provides a family of venture funds that invest in technology and life sciences companies. These funds have backed 44 companies since the firm was founded in 2012, making it one of the most active venture capital firms in the country. Cultivation Capital helps businesses achieve pivotal milestones with the help of our general partners, investors, and other portfolio companies. For more information, please visit www.cultivationcapital.com
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With more than $20 billion in cumulative committed capital since the firm’s founding in 1977, NEA invests in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s long track record of successful investing includes more than 210 portfolio company IPOs and more than 360 acquisitions. For additional information, visit www.nea.com
Maveron is a consumer-only venture capital firm and the partner of choice for the best maverick entrepreneurs who are building consumer-tech brands that will boldly impact people’s lives. With over $1B under management, their portfolio includes eBay, drugstore.com, Shutterfly, zulily, August Home, Everlane, General Assembly, Periscope, Allbirds, and a host of other amazing businesses. Within the consumer category, Maveron invests across the spectrum, from e-commerce and fintech to social apps and frontier tech. They have offices in SF and Seattle, and were founded in 1998.
About Aspect Ventures
Aspect Ventures works with entrepreneurs in the emerging mobile marketplace, making Seed and Series A investments in Mobile, Consumer Internet, Enterprise, SaaS and Healthcare IT. We approach the growth and building of companies from every aspect. With a long industry perspective across over 80 Seed and Series A investments, we work alongside great entrepreneurs – as active advisors, board members and partners – through every point on their success curve. For more information, please visit www.aspectventures.com.