Software specialist Marbruck Investments has led a $7.5 million pre-Series A capital raising round for Sitemate a company that offers no-code software to “built world” companies to digitise administration processes.
The round was supported by existing investors including Blackbird Ventures and Artesian.
Early investors in the company included Shearwater Capital, and tech entrepreneurs Tim Doyle of Eucalyptus and Rory San Miguel of Propeller.
Sitemate’s software has been adopted by large Australian construction companies including Lendlease, Downer and John Holland as well as overseas businesses.
Sitemate’s easy to use software is designed to replace paperwork in managing processes across industries such as construction, mining, oil and gas, energy, power utilities, manufacturing and agriculture.
The company’s no-code technology, provided through the SaaS business model, can be used to create smart forms and field records and to set up streamlined approvals or multi-stage processes so nothing important gets missed, delayed or is carried out incorrectly.
Sitemate was called Dashpivot when it was founded in 2015 by construction engineer Hartley Pike, Sam McDonnell and a third team member who left during early travails. After taking part in the UTS start-up program the business was renamed Construction Cloud. In 2017, Constuction Cloud was selected for the 2017 Startmate accelerator program and emerged as Sitemate.
Sitemate was not a standout early performer. The initial product was taken up by only small a group of users but the founders were encouraged to see that this group used the technology daily and were soon seeking extra features. Since then, new features and add-on products have been progressively developed.
In August 2022, Blackbird Ventures led a $5.2 million round for Sitemate. Since then, the company has established an office in the US and doubled the size of its presence in Europe while continuing to grow strongly in Australia and New Zealand.
Over the last 18 months, the company has grown from a team of 18 to more than 70 and with the fresh capital it is planned double that number by the end of 2024.
Marbuck principal Lachlan Clough said: “Sitemate’s platform is a game-changer for the built world globally, addressing critical inefficiencies in workflow and compliance that have long burdened the industry.
“The company’s scalable tooling architecture and world-class net revenue retention metrics place Sitemate in a formidable position for both domestic and international scale.”
Sitemate recently released a new software platform, Flowsite Integrations Cloud, a no-code integration and automation platform that connects Sitemate’s flagship platform Dashpivot Systems Cloud with other tools including accounting platform Xero.
Pike said: “We believe that companies operating in the built world will soon be operating like technology companies. They’ll be using a series of best-in-class tools, all seamlessly integrated.”
Image: Sitemate founders Hartley Pike and Sam McDonnell.