Sitetracker, a high-volume critical infrastructure project management company, recently announced it received $24 million in additional funding, according to a company release.
New Enterprises Associates (NEA) led the funding round, which also included Wells Fargo Strategic Capital, Saleforce Ventures, among others. This most recent round of financing is expected to help move Sitetracker’s product offerings and global expansion forward.
“At NEA, we seek to invest in companies that transform global industries with innovative and differentiated technology,” NEA General Partner Ravi Viswanathan said in a statement. “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.”
Sitetracker is the first complete platform in the world that can manage modern, high-volume distributed capital projects and assets. The company has helped empower innovative businesses manage the increasing volume, velocity and variety of capital projects. Sitetracker was designed to help teams from the field to the C-Suite, and has helped enterprises thrive with the company’s powerful workflow, automation and reporting functionalities—all of which increase efficiency and maximize portfolio value.
“Sitetracker is modernizing how enterprise project and asset management is practiced across major industries,” Wells Fargo Strategic Capital Managing Director Matthew Raubacher said in a statement. “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,” added Sitetracker CEO Giuseppe Incitti. “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.”