SiteTracker Raises $42M in Series B Funding to Expand Its Cloud-based Project Management Platform
SiteTracker, a cloud-based project management platform, has raised $42 million in its Series B funding round led by Energize Ventures. The funding will be used to further develop the platform and expand its reach into new markets.
Founded in 2013, SiteTracker offers a atozmp3 centralized platform for managing large-scale construction and infrastructure projects, with features such as project tracking, workforce management, and equipment tracking. The platform also offers real-time data analysis and reporting, allowing project managers to make informed decisions and adjust plans as needed.
The company has seen rapid growth in recent years, with its customer base including some of the world’s largest energy and infrastructure companies. SiteTracker’s platform has been used to toonily manage projects such as the construction of wind farms, solar fields, and natural gas pipelines.
The Series B funding round was led by Energize Ventures, with participation from existing investors like BIP Capital and Thoma Bravo. The funding will be used to expand SiteTracker’s platform capabilities and enter new markets, including those outside of the energy and infrastructure sectors.
“SiteTracker’s platform is already delivering masstamilanfree significant value to the energy and infrastructure industries, and we see tremendous potential for the company to expand into new markets,” said Juan Muldoon, managing partner at Energize Ventures. “We are excited to support SiteTracker in its mission to transform project management through innovative technology.”
SiteTracker CEO and co-founder masstamilan Justin Matthews echoed Muldoon’s sentiments, noting that the funding will enable the company to continue building out its platform and expanding its customer base.
“We’re thrilled to partner with Energize Ventures and our existing investors as we continue to enhance our platform and help our customers manage their projects more efficiently,” Matthews said. “Our goal is to transform project management by providing a single, centralized platform for managing all aspects of large-scale projects.”
The construction and infrastructure industries have traditionally been slow to adopt new technologies, but the COVID-19 pandemic has accelerated the need for digital solutions that enable remote work and collaboration. SiteTracker’s platform is well-positioned to meet this need, with its cloud-based architecture allowing project teams to work from anywhere with an internet connection.
In addition to its core platform, SiteTracker also offers integrations with a variety of other software tools commonly used in the construction and infrastructure industries, including Autodesk, Microsoft, and Oracle.
The Series B funding round justprintcard comes on the heels of SiteTracker’s successful Series A round, which raised $11 million in 2019. The company has now raised a total of $55 million in funding.
SiteTracker is one of several companies operating in the growing construction technology (or “contech”) space, which is expected to reach $20 billion by 2025. Other notable players in the space include Procore, PlanGrid, and Fieldwire.
With its latest funding round, SiteTracker is well-positioned to continue its rapid growth and expand its reach into new markets, bringing the benefits of cloud-based project management to a wider audience.