Sitetracker’s $42M Series C: Energizing the Future

The best part of my job is getting to meet with entrepreneurs who share with me their vision of the future. At Energize we meet around 500 qualified companies every year. We look for a CEOs storytelling ability and his or her conviction around what will be different and new in the coming years.

Through our own experience, our LPs and our continued learnings, we also develop ‘prepared mind’ theses to our areas of focus. One of those areas is the future state of our critical infrastructure. At Energize we thoroughly believe that our centralized critical infrastructure is dispersing to the edge. Big power plants are being decentralized into wind and solar farms. Rooftop solar and electric vehicle charging infrastructure are infiltrating houses, apartment buildings and commercial buildings. Cell towers are going from huge structures to rooftop cell relay sites. Critical infrastructure is atomizing and distributing. And the new energy economy is at the heart of this change.

When we first met Giuseppe Incitti and the Sitetracker team in 2018, we knew we had an Energize thesis-entrepreneur-future vision match. In addition to that thesis alignment, we also learned that the Sitetracker team had the level of customer respect and sales gumption required to win over the traditionally slow-moving critical infrastructure verticals. Critical infrastructure decisions move slowly by design: there can be no downtime and… once the product is in place… it is probably in place for a 20+ year relationship! The long-term investments that Sitetracker was making in 2018 into product and sales cycles drove us get creative when we led the Series B-2.

Since our investment, Sitetracker has continued to masterfully execute their plan to be the de-facto software platform for the next generation of critical infrastructure. We are thrilled to double down on Sitetracker and their progress. We are co-leading the $42M Series C alongside H.I.G Capital and are thrilled to bring them into the company. We are also happy to welcome new investors Deutsche Telecom Capital Partners, Energy Impact Partners and Clearvision Ventures to the cap table. Existing investors NEA, Wells Fargo, National Grid, and Salesforce Ventures also participated.

I joined the Sitetracker board during the Series B-2 and am excited to announce that our Energize Partner, Katie McClain, is joining the board as well. This is the first company where Energize holds two board seats and we are excited to double down Sitetracker’s growth efforts in the new energy economy.

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