Sitetracker Raises $24 Million in Series B Funding to Fuel Continued Innovation and Global Expansion

By CIOReview | Monday, August 27, 2018
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PALO ALTO: Sitetracker, the global standard for managing high-volume critical infrastructure projects, announced today $24 million in additional funding. Led by existing investor New Enterprise Associates (NEA) with participation from Wells Fargo Strategic Capital, Salesforce Ventures, and others. This round of financing will further accelerate Sitetracker's product roadmap and global expansion.

Sitetracker powers the successful deployment of critical infrastructure. As the global standard for managing high-volume projects, the Sitetracker Platform enables growth-focused innovators to optimize the entire asset lifecycle. From the field to the C-suite, Sitetracker enables stakeholders to perfect how they plan, deploy, maintain, and grow their capital asset portfolios.

"At NEA, we seek to invest in companies that transform global industries with innovative and differentiated technology," said Ravi Viswanathan, General Partner at NEA. "Sitetracker's solution has changed how billions of dollars of capital assets are deployed in the telecommunications, utilities, and smart cities industries, among others. We are excited to continue partnering with Sitetracker as they expand their platform and reach."

Empowering innovative organizations to effectively manage the increasing volume, velocity, and variety of capital projects, Sitetracker is the world's first complete platform for managing modern, high-volume distributed capital projects and assets. Designed to serve cross-functional teams — from the field to the C-Suite — enterprises reap the benefits of Sitetracker's powerful workflow, automation, and reporting functionalities to elevate efficiency and maximize portfolio value.

"Sitetracker is modernizing how enterprise project and asset management is practiced across major industries," said Matthew Raubacher, Managing Director, Wells Fargo Strategic Capital. "We are excited to be an equity investor in Sitetracker and support this exceptional leadership team in their next phase of growth."

"We remain focused on building a platform that empowers our customers, the world's most innovative companies, to complete their projects and deploy their assets more efficiently," said Giuseppe Incitti, Sitetracker CEO. "This new round of investment will allow us to further accelerate our product roadmap and increase our global reach. We look forward to continuing to partner with our customers and investors to transform how critical infrastructure is deployed."