SITE Technologies Raises $10 Million in Series A Funding Led by Prologis Ventures
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SITE Technologies will accelerate its mission to empower the real estate industry with real-time data collection and AI property condition analysis
CHICAGO, September 12, 2023-- SITE Technologies, the leading innovator in asset management and data analytics technology utilizing artificial intelligence and advanced imagery capturing technologies, is excited to announce the successful completion of its Series A funding round, securing $10 million in investment. The round was led by Prologis Ventures, the investment arm for Prologis, the global leader in logistics real estate, along with technology investors DivcoWest Ventures and Protagonist.
"Managing multiple properties can be complex, and our proprietary technology enables our clients to make decisions faster, increasing ROI while optimizing performance and productivity," said Dan Duffy, CEO of SITE Technologies. "The way property inspections are completed has been transformed, combining our state-of-the-art data capture technology with powerful data analytics, and AI, providing invaluable insights into property conditions, infrastructure, budgets, and operations."
SITE Technologies was formed with the vision to revolutionize the real estate industry through advanced data collection and AI analysis. The SITE's proprietary intelligence platform uses the power of AI and drones, satellites, manned aircraft and other methods to gather precise and real-time property data, significantly improving the efficiency and accuracy of a facility's condition analysis. This round of funding will allow the company to accelerate enhancements of the AI intelligence platform and expand globally.
"We are really excited about how Site Technologies' platform can enhance long-term value and performance for real estate properties," said Will O'Donnell, Managing Director, Prologis Ventures. "It's truly a game changer in the industry. Its ability to leverage AI and other capture technologies to quickly and accurately analyze critical property characteristics allows property owners to identify potential issues as well as optimize bid management processes more efficiently."
SITE Technologies has already established itself as a trusted partner for various industries, including commercial, industrial, and retail real estate, construction, and infrastructure management. The company's innovative approach enables clients to access critical data remotely, eliminating the need for expensive, time-consuming, and sometimes hazardous "boots on the ground' inspections. Prologis is now expanding using SITE in all of its locations across the Americas and expanding into Europe.
About SITE Technologies:
SITE Technologies is an innovative asset management and data analytics company whose team of experts develop best-in-class technology solutions by utilizing imagery to offer our clients' proactive, predictive, actionable data designed to extend the lifespan of their properties and save time and money. Headquartered in Chicago, SITE Technologies serves a diverse range of industries, including retail and industrial real estate, construction, infrastructure management, and more.
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625 West Adams Street, 19th Floor, Chicago, IL 60661
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