MākuSafe Doubles Size, Fueled by Funding and Product Deployments
October 14, 2020
PRESS RELEASE:
West Des Moines, IA (October 14, 2020) MākuSafe, a safety technology company providing workforce wearables and analytics, has recently doubled in size through strategic hires and capital investments. Since the beginning of 2020, the award-winning startup has scaled up manufacturing, officially launched its product , introduced new contact tracing features, and added key staff to its team. The growth has been fueled by a total of nearly $10 million in investment funding and successful test pilots.
Key Staff Additions
The addition of a Principal Data Scientist hire allows the company to further refine their machine learning models and algorithms to provide more complex correlations and deep insights to provide more value for insurer and industrial clients. Mechanical Design Engineering staff is working on improvements in the hardware design to allow for efficiencies in manufacturing and improved reliability. A growing Account Management team provides white glove service for installation and customer onboarding with staff dedicated to continuing support, development and scaling for customers. Additions to the Software Development and Data Analytics team will work on improving the reliability and validity of data among other initiatives.
Insurance Partner Expansion
Additionally, the number of insurers engaged with MākuSafe has expanded 400%. Insurers have disclosed that they are often providing MākuSafe as a value-add to their policyholders. Others state they are using it as a differentiator to increase engagement and retain policy holders. These early adopter insurers are experiencing true benefits of loss avoidance which in pilot testing, amounted to over 1,000% ROI. With the average work comp claim typically costing $20K to $40K or more, preventing just one incident more than covers the cost of using MakuSafe.
Customer Deployments Progress
MākuSafe has officially moved past piloting into paid customer deployments across the country. The startup works with both insurers and industrial end-user companies to provide the solution to workers in manufacturing or other environments. The ultimate goal of the technology is to keep workers safer by monitoring hazards and using predictive data to help prevent workplace injuries and claims. Operations ranging from manufacturing and distribution, to construction, food processing and steel work top the list of current clients. The company recently began its first international deployment.
What safety leaders are saying:
“As an occupational safety professional with more than 20 years of practical experience, forward thinking companies appreciate the emphasis placed on leading indicators. What MakuSafe has to offer is the elusive Holy Grail! The silver bullet! … Now with the unprecedented advances in technology …..MakuSafe platform made exponential leaps. It’s time has arrived.”
Rich D, Safety Professional
