PALO ALTO — Sitetracker, which operates a platform to help companies deploy, operate, and service critical infrastructure and technology, announced $42 million in a Series C financing. 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 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.
Market leaders in the telecommunications, alternative energy, and utility industries — such as Ericsson, Fortis, Google, British Telecom, and Vodafone — rely on Sitetracker to manage millions of sites and projects representing over $25 billion of portfolio holdings globally.
“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.