This morning Sitetracker announced $42 million in additional funding. The company said this round of financing brings the total investment in Sitetracker to $92 million, a sum it projects will further accelerate the product roadmap and continue global expansion plans. The company has offices and employees across the U.S., Europe, Latin America, and the Asia-Pacific region.
“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.” He said the firm is glad to support Sitetracker in its next growth phase.
The round was led by new investor H.I.G. Growth Partners as well as returning backer Energize Ventures with follow-on investment from all other returning financiers, 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.
“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. She 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,” said McClain.
“We are committed to building a software platform and company that empowers our customers to transform entire industries,” said Sitetracker CEO Giuseppe Incitti. “And to our customers and employees, thank you for your partnership and hard work. I am excited to continue our journey together.”