The chief executive of workplace software group SafetyCulture says it could take years for the company to become profitable, even after it narrowed its losses to $36 million over the past financial year.

SafetyCulture, one of the country’s biggest private technology firms, is valued at $2.5 billion. Accounts filed with the corporate regulator show a 30 per cent rise in revenues to $160.6 million in the 12 months to June 30.