UL Solutions
A global leader in applied safety science, providing testing, inspection, and certification (TIC) services, along with software and advisory offerings.
- CEO / Founder
- Jennifer Scanlon
- Team Size
- 14,800+
- Stage
- Active
- Total Funding
- $946.4M
- Latest Round
- IPO
- Key Investors
- Goldman Sachs, J.P. Morgan
Technology & Products
Key Products
Testing, inspection, and certification (TIC) services; software products; advisory offerings.
Technological Advantage
Deep technical expertise in safety, security, and sustainability science. A vast global footprint of labs and offices allows for localized support and global market access. The UL Mark is a highly trusted and recognized symbol of safety, creating a significant competitive moat.
Differentiation
Value Proposition
Providing trust and confidence to customers and consumers through a globally recognized brand for safety, security, and sustainability, enabling innovation and market access.
How They Differentiate
UL Solutions differentiates through its deep-rooted brand legacy, particularly in North America, and its singular focus on 'safety science.' While competitors offer a broad range of TIC services, UL's brand is synonymous with product safety and certification, which provides a strong competitive edge.
Market & Competition
Target Customers
Businesses across a wide range of industries requiring product safety, security, and sustainability certification and advisory services to navigate market access and compliance.
Industry Verticals
["Consumer Electronics","Automotive","Industrial Products and Systems","Energy and Utilities","Healthcare and Life Sciences","Building and Construction","Retail"]
Competitors
SGS, Bureau Veritas North America, Intertek
Growth & Milestones
Growth Metrics
Reported revenue of $2.68 billion in 2023 prior to its IPO. As a public company, it reports quarterly earnings, showing consistent organic growth.
Major Milestones
["1894: Founded as Underwriters' Electrical Bureau.","2012: Transformed from a non-profit to a for-profit organization.","2022: Rebranded its commercial businesses as UL Solutions.","2024: Completed its Initial Public Offering (IPO) on the New York Stock Exchange (NYSE: ULS)."]
Notable Customers
Mighty Buildings