“MākuSafe,” a Software as a Service (SaaS), data and analytics startup, has raised a seed financing round of nearly $3 million. The company bills its technology as a way to help identify workplace risk, and workers compensation insurer EMC Insurance Companies is one of its investors.
Beyond EMC, Next Level Ventures and The Best of the Midwest are also part of the company’s new funding round. To date, MākuSafe has pulled in nearly $4.5 million, and it plans to use this latest cash infusion to hire key personnel and to scale the manufacturing of its proprietary technology.
MākuSafe describes its tech as “a sophisticated system for gathering real-time environmental and human motion data to identify workplace risk.” That includes a cloud platform that uses machine learning to process millions of data points gathered by wearable armband devices invented by MākuSafe.
With the data gathered from the wearable devices, MākuSafe said its customers can gain deeper insights into their workforce and operations, resulting in mitigating workplace risks and reducing workers compensation claims.
MākuSafe CEO and co-founder Gabriel Glynn said the startup has been testing the technology in facilities around central Iowa and using those results to fine-tune its product.
This past fall, MākuSafe was selected to pitch at The Best of the Midwest, an angel capital event that took place in Des Moines. Accredited investors from around the Midwest pooled money together and collectively picked which participating startups would receive investment.