Sitemate Secures $7.5M Pre-Series A Funding, Propels Towards ‘Escape Velocity’

Sitemate Secures $7.5M Pre-Series A Funding, Propels Towards ‘Escape Velocity’

In a remarkable feat amidst a global tech downturn, Sitemate, the Australian scaleup specializing in no-code software platforms for the construction industry, has announced a triumphant $7.5 million Pre-Series A funding round. Marbruck Investments led the investment, with backing from existing supporters Blackbird Ventures and Artesian.

Sitemate’s journey over the last 18 months has been nothing short of extraordinary, defying market trends by expanding its team from 18 to over 70 employees. In a closed session featuring guest speaker Mike Cannon-Brookes, Co-CEO of Atlassian, organized by Blackbird Ventures, the Atlassian leader emphasized seizing opportunities during challenging times.

Hartley Pike, Sitemate’s CEO, stated, “While many take their foot off the gas, it’s an opportunity to get ahead.” And get ahead they did. Since their 2022 fundraise led by Blackbird, Sitemate has established a North American office, doubled its European presence, and sustained robust growth in Australia and New Zealand.

Tom Humphrey from Blackbird Ventures commended Sitemate’s impressive performance, citing the team’s dedication to executing on their product roadmap and driving customer growth. Pike revealed ambitious plans for the future, stating, “We will be doubling the size of our GTM teams in Oceania, Europe, and North America between now and the end of 2024.”

The recent funding will propel Sitemate’s expansion further, especially with the release of their second software platform, the Flowsite Integrations Cloud. This dedicated no-code integration and automation platform is tailored for the construction industry, connecting seamlessly with Sitemate’s flagship Dashpivot Systems Cloud and other essential tools.

Sitemate’s co-founder and CEO, Hartley Pike, envisions a future where construction companies operate akin to tech companies, utilizing seamlessly integrated best-in-class tools. Pike acknowledged receiving term sheets for a full Series A from US investors but opted for a smaller amount to fine-tune key aspects before reaching full ‘escape velocity.’

Blackbird’s Tom Humphrey concluded, “Sitemate raising this round in such a challenging funding market is full credit to the team’s execution and their impressive growth and capital efficiency to date.” Sitemate’s strategic approach, impressive growth, and commitment to innovation position them as a formidable force in the global built world.