Total amount raised
$141 Millions
Latest funding date
09/01/2022
Location
Sitetracker has successfully raised significant funding over multiple rounds, establishing itself as a key player in asset lifecycle management. The platform offers comprehensive solutions for managing critical infrastructure assets across various industries.
Keep reading to explore the intricacies of Sitetracker's fundraising journey and the investors backing this innovative platform.
What Is Sitetracker?
Sitetracker, founded in 2013, is headquartered in Palo Alto, California. The company was established by Tim May, Giuseppe Incitti, and Charles Green.
Specializing in asset lifecycle management, Sitetracker provides a platform that streamlines operations for critical infrastructure projects. Their services span project management, field work management, financial management, and more.
With a team of over 200 employees, Sitetracker supports industries such as telecommunications, energy, utilities, and construction, helping organizations plan, build, operate, and maintain their infrastructure efficiently.
How Much Funding Has Sitetracker Raised?
- Series D Equity and Debt Financing
- Amount Raised: $96 million
- Date: September 2022
- Lead Investors: Energize Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funds are intended to scale Sitetracker's global capabilities to support renewable energy, 5G, fiber, and telecom digital infrastructure worldwide.
Total Amount Raised: $96 million. Current Valuation: Not publicly disclosed.
Key Investors
- Energize Ventures
- Details: Energize Ventures is a venture capital firm that invests in digital solutions for energy and heavy industries. They focus on accelerating the digital transformation of these sectors.
- Investment Focus Areas: Energy, technology, heavy industries
- Notable Investments: Aurora Solar, Volta Charging, DroneDeploy
- H.I.G. Growth Partners
- Details: H.I.G. Growth Partners is a leading growth equity investment firm. They specialize in providing capital to small and mid-sized companies with high growth potential.
- Investment Focus Areas: Technology, healthcare, business services
- Notable Investments: SpotX, Community Veterinary Partners, Surgery Partners
- National Grid Partners
- Details: National Grid Partners is the venture investment and innovation arm of National Grid. They invest in startups that can help transform the energy sector.
- Investment Focus Areas: Energy, utilities, technology
- Notable Investments: AutoGrid, ClimaCell, SparkCognition
- Clearvision Ventures
- Details: Clearvision Ventures is a venture capital firm that invests in early-stage technology companies. They focus on innovative solutions that can drive significant market impact.
- Investment Focus Areas: Technology, innovation, sustainability
- Notable Investments: Not publicly disclosed
- NTT Docomo Ventures
- Details: NTT Docomo Ventures is the corporate venture capital arm of NTT Docomo. They invest in technology startups that align with their strategic interests.
- Investment Focus Areas: Technology, telecommunications, digital services
- Notable Investments: Preferred Networks, Cloudian, Mist Systems
What's Next for Sitetracker?
As Sitetracker looks to the future, the opportunities are vast. With plans to expand operations to over 100 countries by the end of 2024, the company is poised to support the burgeoning sectors of renewable energy, 5G, fiber, and telecom digital infrastructure. Managing assets worth over $150 billion, Sitetracker is well-positioned to capitalize on the growing demand for deployment operations management software in critical infrastructure sectors.
Given the scale of these opportunities, future fundraising rounds seem likely to support ongoing expansion and technological advancements. However, challenges such as managing rapid global growth, integrating new technologies, and maintaining customer satisfaction will be crucial hurdles to overcome. Competition from other software providers will also test Sitetracker's ability to stay ahead in the market.
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