Sitetracker, a multi-site challenge management platform designed to observe and handle critical infrastructure initiatives, has raised $42 million in a collection C spherical of funding co-led by H.I.G. Growth Partners and Energize Ventures.
Founded out of Palo Alto in 2013, Sitetracker permits corporations comparable to utility, telecom, and electrical autos (EVs) to remotely deploy and keep all their bodily belongings, gleaning real-time data and insights by means of reviews and dashboards. This is enabled partially by Salesforce’s AI-powered Einstein Analytics, which mines historic data to serve predictive insights — which means that Sitetracker clients can set up extra correct forecasts for every milestone and challenge completion date, for instance, primarily based on market circumstances, jurisdictions, distributors, and extra. Sitetracker additionally integrates with myriad third-party enterprise platforms, spanning data warehouses, accounting, CRMs, ERPs, and extra.
The platform, finally, is designed to change legacy programs which were “frankensteined together,” as Sitetracker CEO Giuseppe Incitti put it, which might’t successfully address the challenges introduced by challenge selection and quantity. This usually entails disconnected spreadsheets, clipboards, and different disparate instruments, whereas Sitetracker guarantees “a single source of truth” by consolidating all challenge data in a single platform.
“Sitetracker helps infrastructure companies both identify and eliminate inefficiencies across large deployments,” Incitti advised VentureBeat.
Prior to now, Sitetracker had raised $45 million, together with its $10 million collection B spherical again in 2019. Its newest increase comes as President Biden announced a $2 trillion plan to rebuild American infrastructure with clear vitality at its core, spanning inexperienced areas, water programs, electrical energy grids, and extra. This places platforms comparable to Sitetracker in a robust place to capitalize.
“Under the Biden plan, and similar initiatives around the world, the volume of wind, solar, EV charging stations, and battery deployments are going to increase dramatically, as are the number of workers needed to bring these projects to life,” Incitti stated. “Sitetracker is uniquely positioned to act as both a vehicle to ensure infrastructure operators can deploy quickly and cost-effectively to achieve their targets, and a competitive advantage to those companies looking to hire and scale their employee base systematically.”
With one other $42 million within the financial institution, which included investments from Salesforce Ventures, Enterprise Associates (NEA), National Grid Partners, and Wells Fargo Strategic Capital, the corporate stated it plans to speed up its international development and product roadmap.
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