Sitetracker, a project, asset, and work management platform for critical infrastructure companies, announced yesterday an investment from Energize Ventures, extending the company’s Series B financing to $34 million. Sitetracker previously closed their Series B round in August 2018, led by New Enterprise Associates with participation from Wells Fargo Strategic Capital, National Grid Ventures, and Salesforce Ventures. This brings the total investment in Sitetracker to $45 million.
“Critical infrastructure providers are at a crossroad,” said John Tough, Partner, Energize Ventures. “Hardware miniaturization and decentralization is leading to new revenue opportunities in energy, transportation, 5G, and cross-industry IoT. But these new opportunities also present unexpected deployment and maintenance challenges that need to be addressed now. By enabling this asset transition, Sitetracker aligns tightly with our thesis that technology can deliver solutions for problems that permeate not only power and energy companies, but critical infrastructure providers at large.”
“We’re excited to have Energize Ventures as a partner. Their investment represents continued validation that critical infrastructure operators are ready and need to tackle the challenges being presented by a shifting technological landscape,” said Giuseppe Incitti, CEO, Sitetracker. “Our focus from here continues to be on our customers’ success and ensuring that our roadmap delivers above and beyond their expectations.”
May 30, 2019
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