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Guardhat Raises Series B Funding To Capitalize On The Strong Rise In Demand For Connected Worker Solutions

On 5 January 2021, Guardhat the US-headquartered connected worker solutions and IIoT platform provider raised Series B funding led by General Catalyst, Durable Capital Partners LP and Annox Capital, bringing the total funding raised to $42 million since its founding in 2014. It will use this funding to further support its growth strategy and expand its current team of 40 employees to support sales, product management, marketing, human resources, deployment and engineering.

2020 witnessed a string of funding deals with connected worker solution providers such as KINETIC, Librestream, Nreal, Parsable and Poka raise millions, spurred by the rising demand for connected worker solutions, made more immediate by the COVID-19 pandemic and the need to undertake remote operations. In the recent Verdantix survey of 259 executives in operations, maintenance, engineering and process safety roles, 55% cited undertaking investment in connected worker solutions for health and safety, either at all relevant sites or a few sites, while a further 30% mentioned trialling these solutions at their firms. Connected worker solutions for use cases such as vital signs monitoring, ergonomics, environmental hazard detection, remote assistance and lone worker tracking enable the positive engagement of frontline workers in safety thereby helping reduce serious injuries and fatalities along with improving maintenance productivity.

A wide variety of connected worker solutions are available to customers. How can customers structure a convincing business case to garner investment and find the best-fit solution? Verdantix recommends that firms start by clearly defining the objectives to be achieved and segment the key usage scenarios to calculate the potential ROI.

For more insights into connected worker solutions, read the following Verdantix reports: The Business Case For Enhancing EHS Processes With Industrial Wearables, Smart Innovators: Augmented Reality Solutions For Remote Assistance, Smart Innovators: Connected Worker Solutions For Health & Safety

OPEX Guardhat Raises Series B Funding To Capitalize On The Strong Rise In Demand For Connected Worker Solutions Chart

Malavika Tohani

Research Director, Operational Excellence, Verdantix
Verdantix

Malavika leads the Verdantix Operational Excellence practice. Her current research agenda focuses on the digitization of Operational Excellence and covers operational risk technologies, best practices and growth strategies. Her recent research focussed on benchmarking the capabilities of the prominent operational risk software vendors. She has over 10 years’ experience in research and strategy consulting. Malavika previously worked at Frost & Sullivan, managing and delivering advisory projects for clients involving expansion, acquisition, benchmarking and product development strategies. Malavika holds a MSc in Economics from Madras School of Economics.