Sitetracker Completes $96M Series D Equity and Debt Financing to Accelerate Telecommunications and Energy Infrastructure Deployment

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Sitetracker, the leading deployment operations management software for critical infrastructure providers, closed a new round of equity and debt financing totaling $96 million, which will enable the company to expand its capabilities to support renewable energy, 5G, fiber and digital telecommunications infrastructure worldwide. . Energize Ventures led a new round of equity financing totaling $66 million, and BridgeBank, a subsidiary of Western Alliance, provided a $30 million revolving credit facility.

“With the world’s largest telecom and energy providers using our platform to manage their wireless, wireline, solar and energy deployments and operations around the world, Sitetracker has a strong tailwind through 2023 and into beyond,” said Giuseppe Incitti, CEO of Sitetracker. “This new funding will help us continue to expand our market presence while investing in our technology so we can stay ahead of the curve in the dynamic energy and connectivity sectors.”

In addition to Energize Ventures, the funding round included strong participation from existing investors including HIG Growth Partners, National Grid Partners, Clearvision Ventures and others, as well as participation from new investors including NTT Docomo Ventures, Kingfisher Investment Advisors and Raine Next-Gen. Communications.

Sitetracker currently operates in 30 countries with ongoing customer deployments planned to bring the platform to over 100 countries by the end of 2024. This expansion is a direct result of many Sitetracker customers relying on their initial success with Sitetracker’s technology and major government initiatives around the world, such as the Cut Inflation Act United States and NextGenerationEU in Europe. These initiatives include billions of dollars in funding for 5G capabilities, high-speed broadband, electric vehicle charging stations, solar panels and other critical infrastructure, prompting companies to accelerate clean energy deployments. and high-speed connectivity. Sitetracker’s solution helps customers efficiently manage large volumes of distributed assets.

Industry leaders in telecommunications, energy, construction and engineering, real estate, and media use Sitetracker’s cloud platform to manage and deploy their projects. Sitetracker’s customer base includes energy and electric vehicle charging companies including ChargePoint, NextEra Energy, Southern Company and Duke Energy, as well as telecommunications providers such as AT&T, Segra, Zayo and British Telecom. Many customers have explored the technology for specific programs and experienced such increases in efficiency, savings, and strategic planning that they are now deploying Sitetracker enterprise-wide.

“The energy infrastructure as we know it is fundamentally changing – in the United States alone, we expect more than 500,000 EV chargers to be deployed and solar installations to quadruple over the next next decade,” said Kevin Stevens, Partner and Head of Growth Equities at Energize Ventures. “The future of the new energy economy hinges on the ability to efficiently deploy and manage a growing number of distributed assets, and Sitetracker is building the digital backbone that enables this deployment. Our continued investment in the business demonstrates our belief in the size of the market opportunity as well as the aptitude of the Sitetracker team and software platform.

The $96 million new funding brings Sitetracker’s total capital raised to nearly $200 million since 2013. It comes as the company closed the first half of its 2022 fiscal year with 50% year-over-year growth. So far in 2022, Sitetracker has launched a new Tower Solutionforged a new partnership with a leader in private 5G networks, added new languages ​​and mobile capabilities to its platform and hired more than 75 people in eight new countries, bringing its total number of employees to nearly 400.

“Sitetracker is poised for significant growth and success, particularly as we integrate new sales capabilities, hire talent across all business functions, and gain greater market awareness,” Incitti said. .


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