SITE Technologies, a frontrunner in asset management and data analytics technology, powered by artificial intelligence (AI) and advanced imagery-capturing techniques, is thrilled to announce the successful completion of its Series A funding round, raising $10 million in investment.
The leading logistics real estate firm, Prologis, via its investment arm Prologis Ventures, spearheaded the round, with technology investors DivcoWest Ventures and Protagonist also contributing.
“Property management can be a complex undertaking, and our cutting-edge technology empowers our clients to make informed decisions swiftly, thereby enhancing their return on investment (ROI) while optimizing performance and productivity,” explained Dan Duffy, CEO of SITE Technologies.
“We’ve revolutionized property inspections by melding state-of-the-art data capture technology with potent data analytics and AI, providing invaluable insights into property conditions, infrastructure, budgets, and operations.”
SITE Technologies was established with the vision to transform the real estate industry through advanced data collection and AI analysis. SITE’s proprietary intelligence platform harnesses the potential of AI, drones, satellites, manned aircraft, and other techniques to gather precise and real-time property data, dramatically boosting the efficiency and accuracy of facility condition analysis.
This fresh infusion of capital will enable the company to expedite the enhancement of its AI intelligence platform and facilitate global expansion.
“We are truly excited about how Site Technologies’ platform can augment long-term value and performance for real estate properties,” said Will O’Donnell, Managing Director at Prologis Ventures. “It’s genuinely a game-changer in the industry. Its capacity to leverage AI and various capture technologies to promptly and accurately assess critical property characteristics allows property owners to detect potential issues and optimize bid management processes more efficiently.”
SITE Technologies has already cemented its reputation as a trusted partner across various industries, including commercial, industrial, and retail real estate, construction, and infrastructure management.
The company’s innovative approach enables clients to remotely access crucial data, eliminating the necessity for costly, time-consuming, and sometimes risky on-site inspections. Prologis is now expanding its utilization of SITE across all its locations in the Americas and venturing into Europe.