Nearly $100M in recent round of financing
Today, we announced that we have completed a new round of equity and debt financing totaling $96M. Our Series D investment round, which totaled $66M, was led by our partners at Energize Ventures along with strong participation from prior investors H.I.G. Growth Partners, National Grid Partners, Clearvision and others. New investors included NTT Docomo Ventures, Kingfisher Investment Advisors, and The Raine Group. Adding to the equity investment, we established a $30M revolving credit facility from BridgeBank, a subsidiary of Western Alliance.
We are extremely grateful to all of our partners who share our excitement about the opportunities that exist for Sitetracker and the industries we serve. This financial investment is a reflection that our partners share our vision that global critical infrastructure growth will only continue to accelerate in the coming years. The solutions Sitetracker provides enable our customers to improve the efficiency and productivity of their businesses oftentimes allowing them to take on 30%-40% more projects without the need to increase headcount.
This new round of financial support will allow us to continue on the mission we’ve been executing against for the past several years – to power the rapid deployment of tomorrow’s infrastructure with the leading Deployment Operations Management platform in the industry. Sitetracker’s 400 employees are now operating in 30 countries supporting our customers who are using Sitetracker in over 100 countries. While we continue to see tremendous growth opportunities in our core Telecom business, the energy infrastructure segment has become as hot as the sun with increased demand for EV charging infrastructure as well as residential and commercial solar deployments.
The financial support provided by this round of financing will help us continue to grow the Sitetracker team, the Sitetracker product line, partners and services necessary to ensure the success of the local, regional and global Telecom, Energy and Construction companies that are responsible for deploying what’s next.
For more details about the latest round of financing, please read the recent press release here. And, as always, if you are interested in seeing how Sitetracker can transform your business, please click here and one of our team members will be happy to show you more.