Sitetracker Raises $42 Million in Series C Financing
Sitetracker is the global leader in deployment, operations, maintenance, and asset management software for critical infrastructure and technology providers
Sitetracker, the global standard for deploying, operating, and servicing critical infrastructure and technology, announced $42 million in additional funding. The round was led by new investor H.I.G. Growth Partners as well as returning investor Energize Ventures with follow-on investment from all other returning investors, including New Enterprise Associates (NEA), National Grid Partners, Wells Fargo Strategic Capital, Salesforce Ventures, and others. New investors participating in addition to H.I.G. Growth Partners include Energy Impact Partners (EIP), Telekom Innovation Pool (TIP), Clearvision Ventures, and others. This round of financing brings the total investment in Sitetracker to $92 million, and the investment will further accelerate Sitetracker’s product roadmap and continued global expansion.
“Sitetracker is uniquely positioned to tackle the business operations challenges faced by companies deploying, maintaining, and operating in industries like telecom, utilities, and alternative energy. We’re thrilled to support Sitetracker in their next phase of growth.”
“Sitetracker’s continued growth is a testament to their understanding of the challenges faced by their industry-leading customers, in the multi-billion-dollar critical infrastructure space,” said Scott Hilleboe, Managing Director of H.I.G. Growth Partners. “Sitetracker is uniquely positioned to tackle the business operations challenges faced by companies deploying, maintaining, and operating in industries like telecom, utilities, and alternative energy. We’re thrilled to support Sitetracker in their next phase of growth.”
“It is clearer now more than ever that there are missing links within our critical infrastructure, and traditional analog industries must find solutions for remote deployment and maintenance of their assets to stay ahead of the curve,” said Energize Ventures Partner Katie McClain, who recently joined Sitetracker’s Board alongside Energize’s existing seat held by John Tough. “We believe it is the right time to strengthen our commitment to Sitetracker, the leading-edge solution to enable companies to operate effectively and efficiently in this new digital age.”
Despite 2020’s challenges, Sitetracker grew its global user base by 17,000 users across various industries, including telecom, utilities, and alternative energy. With a truly customer-centric approach, Sitetracker prides itself on localized support around the world. Sitetracker’s global presence includes offices and employees across the USA, Europe, Latin America, and APAC and is supported by top system integrators and a global partner network.
“Last year, we hired extensively across all departments. From executives, John Edebol, VP Americas, and Alejandro Padilla, VP LATAM to Jena Singleton, Head of Employee Experience, Diversity, and Belonging,” said Giuseppe Incitti, CEO at Sitetracker. “Between our new leaders and the over 100 other hires we made last year; we are geared up to keep delivering Sitetracker to our customers at the highest standard.”
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Sitracker innovated in 2020 to ensure its customers stayed ahead of the curve. Alongside out-of-the-box features like Trackers,Sitetracker Mobile, and Intelligent Project Templates, Sitetracker customers also adopted newly released features, including machine learning and Sitetracker for the field. Sitetracker’s customers benefited from faster project completion, improved resource allocation, and decreased cycle times.
Sitetrackers powerful platform coupled with their continued investment in customer success drove adoption rates above 90%. “Sitetracker is gaining momentum by fostering strong customer relationships and delivering best in class software to critical infrastructure companies,” said Colin Bryant, Partner at NEA. “We are excited to continue supporting Sitetracker on their journey to deliver game-changing software to critical infrastructure providers deploying and maintaining their distributed capital assets around the world.”
“As a leader in ESG investments, EIP is thrilled to be part of such a strong group of investors that believe in Sitetracker’s bright future,” said Harry Giovani, CEO & Managing Partner for Credit Strategies at EIP. “Utility companies need Sitetracker to support the deployment and maintenance of distributed energy resources, EV chargers, and IoT infrastructure. We’re excited to support Sitetracker’s continued growth in the utility market and across critical infrastructure.”
‘We are committed to building a software platform and company that empowers our customers to transform entire industries,” said Giuseppe Incitti, CEO at Sitetracker. “And to our customers and employees, thank you for your partnership and hard work. I am excited to continue our journey together.”
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