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SOFTWARE (NON-INTERNET/MOBILE) | Business Intelligence, Analytics & Performance Mgmt Software
siteaware.com

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Stage

Series A | Alive

Total Raised

$13.5M

Last Raised

$10M | 8 mos ago

Mosaic Score

+50 points in the past 30 days

What is a Mosaic Score?
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

About SiteAware

SiteAware is a developer of software focused on building knowledge into construction projects through analysis of data collected by drones.

SiteAware Headquarter Location

440 Louisiana St 900

Houston, Texas, 77002,

United States

(214) 731-7625

Latest SiteAware News

ConTech: Robert Bosch Venture Capital co-leads USD 10 million investment round in SiteAware

Nov 18, 2020

ConTech: Robert Bosch Venture Capital co-leads USD 10 million investment round in SiteAware November 18, 2020 Aron Bahnmüller Robert Bosch Venture Capital co-leads the funding round and invests together with Axon Ventures SiteAware is defining a new standard for Digital Construction Verification to enable consistent First Time Quality and mitigate construction risks. “SiteAware has the potential to revolutionize Quality Control (QC) and verification in the construction industry,” says RBVC managing director Dr. Ingo Ramesohl Stuttgart, Germany – Robert Bosch Venture Capital GmbH (RBVC), the venture capital arm of the Bosch Group, co-leads a USD 10 million round A financing in Tel Aviv (IL) based SiteAware ltd., investing together with Axon Ventures. Existing investors, including lool Ventures, Oryzn Ventures, Kluz Ventures and Power Capital Venture also participated in the round. The proceeds of the round will be used to scale the company’s business across North America. The Artificial Intelligence (AI) construction verification platform provides real-time, high accuracy quality control through its purpose-built digital twinning engine, paired with AI based anomaly detection. SiteAware is defining a new standard for Digital Construction Verification (DCV) to enable consistent First-Time Quality1 and mitigate construction risks. “SiteAware’s purpose-built AI streamlines construction field work and would therefore allow the industry to lower construction costs,” says RBVC Managing Director Dr. Ingo Ramesohl. “SiteAware’s Digital Construction Verification technology enables field teams to achieve First Time Quality, and we believe it has the potential to revolutionize quality control (QC) and verification in the construction industry.”   Digital construction verification reduces costs and drives efficiency Construction is a major contributor to the U.S. economy. The industry comprises of more than 680,000 employers with over seven million associates. This industry has been heavily relying solely upon human spot checks, while seeking the adequate tools and processes to perform comprehensive building verification. SiteAware’s enhanced solution provides the digital value add and, according to the Associated General Contractors of America (AGC), is addressing a USD 1.3 trillion market of new buildings each year. “The costs of construction errors and risk mitigation contribute 10%-30% of this number.” said Zeev Braude, SiteAware CEO. “SiteAware’s technology significantly lowers this overhead, allowing customers to reap the benefit.”   With the help of ground and drone-mounted cameras, SiteAware digitally scans buildings under construction and creates a highly accurate 3D model of the verified area. The model is then verified against the approved construction plans to flag any inconsistencies between plans and fieldwork. The result is a complete view, in real time, of the work performed that exposes any deviation from the plan, enabling field teams to make the necessary adjustments before needing to carry out reactive rework. Furthermore, SiteAware’s 3D model enables an easy generation of an accurate As-Built model2 of the building. SiteAware’s scans save much time and resources and eliminates the physical measuring of the existing facility, which sometimes involves measures such as precision laser distance meters and 3D laser scanners. “The need for DCV is even more evident during the COVID-19 pandemic. Implementing SiteAware’s solution enabled construction projects to maintain efficiency, make progress and adhere to schedule despite workforce reduction and social distancing”, added Ramesohl. World class team developing breakthrough technology The latest round of funding will enable SiteAware to expand its experienced management team led by CEO, Zeev Braude, and Co-founder and CTO, Ori Aphek. Both Zeev and Ori bring a combined 40 years of business industry experience. Zeev’s business leadership track record in B2B enterprise and SaaS products in rapidly changing environments, together with Ori’s experience in building optical and computer vision solutions is the necessary force in leading SiteAware to becoming the market leader within an industry ready for a digital upgrade. 1 First Time Quality (FTQ) is a manufacturing term for a metric indicating to what extent parts are manufactured correctly the first time without need for inspection, rework, or replacement. The same principals apply to construction. 2 As-Built models represent a building or space as it was actually constructed. As-built documentation is developed after construction (or a particular phase of construction), either immediately or at any time following. Further Information: https://www.bosch-presse.de “Picture: Bosch”

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The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Expert Collections containing SiteAware

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

SiteAware is included in 4 Expert Collections, including Construction Tech.

C

Construction Tech

564 items

Companies using technology to improve processes in the construction industry.

D

Drones

890 items

Drones are defined broadly to include software and hardware companies developing technologies related to unmanned aerial, marine, and/or land vehicles designed for unstructured environments. These technologies range from the manufacturing of drones to the analysis of data collect

S

Smart Money VCs (2017-2019)

6,297 items

We crunched the data to identify the 24 VC firms with the best combination of portfolio valuations and investment outcomes.

I

Internet of Things ( IoT )

3,148 items

SiteAware Patents

SiteAware has filed 4 patents.

The 3 most popular patent topics include:

  • Unmanned aerial vehicle manufacturers
  • Actuators
  • Avionics
patents chart

Application Date

Grant Date

Title

Related Topics

Status

11/10/2015

4/25/2017

Operating a uav with a narrow obstacle-sensor field-of-view

Unmanned aerial vehicle manufacturers, Medical imaging, Infrared imaging, Avionics, Airborne military robots

Grant

10/30/1988

6/30/1997

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4/29/1975

6/15/1999

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8/30/1974

8/16/1972

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Application Date

11/10/2015

12/5/1998

10/30/1992

9/23/2003

Grant Date

4/25/2017

1/21/1969

3/30/1970

1/6/1958

Title

Operating a uav with a narrow obstacle-sensor field-of-viewSubscribe to see moreSubscribe to see moreSubscribe to see more

Related Topics

Unmanned aerial vehicle manufacturers, Medical imaging, Infrared imaging, Avionics, Airborne military robots

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Status

Grant

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SiteAware Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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