Thursday, September 28, 2023

Proptech Startup That Is More ‘Atlassian Than Aconex’ Raises $5.2 Million

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Sydney-based start-up Sitemate has raised $5.2 million for its no-code software tools for construction companies.

The round was led by Blackbird, with the participation of existing investors Shearwater Capital and angels, including local tech founders Tim Doyle of Eucalyptus and Rory San Miguel of Propeller.

Coincidentally, Nick Crocker, general partner of Blackbird, was running the Startmate program in 2017 when Sitemate, then known as Construction Cloud, joined the program and was considered the least likely to survive.

utilities Tom Humphrey, the president of Blackbird, likens Sitemate to Atlassian, believing his path forward is closer to the Sydney software giant than to proptech company Aconex.

“It’s a product-driven company that provides real-time collaboration and a seamless product experience to the hundreds of millions of employees who wear safety helmets and steel work boots — just like Atlassian did for software developers and software companies,” he said.

No-code tools like Canva, Jira, Trello, and Slack are part of the trend, allowing businesses to design and implement streamlined digital processes relatively easily and at a very low cost.

Sitemate co-founder and CEO Hartley Pike, an engineer by training and experienced in the construction industry, said the product is designed to digitize”Built World” companies, which he defines as those operating in any of the heavy industries, including construction, oil and gas, mining, manufacturing, energy, energy, utilities, transportation, agriculture and facilities management.

They often still rely on paper forms, physical folders and clunky old software to document, track and manage work, he said, recalling how during his time in the industry he spent half a day a week collecting paperwork. , handing out half the day.

“There’s an unfair assumption that the built world’s industries have an ‘old-fashioned’ workforce or have had a unique resistance to change when the software designed for them just wasn’t good enough or easy enough to use,” he said. .

“Unlike many white-collar industries that had access to no code tooling and paperless processes for years, the vast majority of the companies we work with still did their work manually. These companies are now able to easily digitize and streamline their end-to-end processes through our flagship product, the Dashpivot Systems Cloud.”

Dashpivot Systems Cloud is part in-office digital database and part on-the-job app, allowing businesses to easily choose, create and customize any number of digital processes and complex workflows that can be touched by a number of different project parties and stakeholders – which results in time and cost savings, improved compliance and better results for all parties.

Shearwater Capital Managing Partner, Zac Zavos, first invested in Sitemate in 2019 and has increased their investment in this round.

“The Sitemate team understands the problem they are solving very well and has shown a consistent ability to grow their customer base through downward and upward cycles,” he said.

Sitemate now has a global customer base, with operations in Sydney and London, and a North American office planned for later this year.

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