Safety tech firm LifeBooster secures investment from W. L. Gore
Safety tech firm LifeBooster secures investment from W. L. Gore
The investment will enable LifeBooster to extend its lead in connected worker risk analytics technology.
After studying biomedical sciences at the University of Toronto and the University of Victoria, Bryan Statham felt he was missing something. He needed an adventure. So, he travelled around the world, “working in clinics, hospitals, orphanages, and various care facilities to support” himself.
When he returned home, he worked in a number of industries from warehousing operations to hospitality to investment banking. During those years, he learned a range of skills from driving a forklift to negotiating deals to management. But once again, something was missing: “I missed the passion I had helping others while travelling abroad,” he once wrote, and unfortunately, he “also suffered back strains and tendonitis on-the-job.” Friends and family of his had similar injury stories—all experiences Statham believed were preventable.
This led him to ask himself: “How can we stop these injuries from happening in the first place?” Striving to answer this question drove him to co-found Lifebooster, an advanced connected worker and risk analytics platform in 2012.
Fast-forward nine years and Statham has turned Lifebooster into a market leader in the digital safety technology space—and today, he revealed the closing of an investment round from local and international investors including W. L. Gore & Associates, Inc.
The investment (amount not disclosed) will enable LifeBooster to extend its lead in connected worker risk analytics technology. In addition, as part of the investment, the company will work with Gore & Associates on a multi-year plan to introduce a line of co-branded smart workwear products to market.
“This investment and collaboration with Gore represents a major milestone in the development of LifeBooster,” said Statham. “It validates the work and commitment our team has made to improve the health and safety of billions of workers worldwide.”
As to why Gore joined forces with Lifebooster, David Dillon, head of its Smart Apparel group, said that smart apparel is a high-growth area for their business. “Our continued pursuit of smart apparel… is accelerated by this collaboration with LifeBooster,” Dillon noted. “The company’s vision, experience, capabilities and values are a great match for Gore, and we are confident the products we bring to market will make a meaningful impact on reducing workplace injuries.”
Industry growth estimates for the smart apparel or e-textiles business range from a 19-29% compound annual growth rate (CAGR) through 2030, according to analysts. “Smart apparel aligns to the trend toward the digital enterprise and offers numerous ease of operation advantages over traditional wearable attachment methods, LifeBooster noted in a statement.
