Startup Sitemate acquires Nomad Fleet
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The news: Construction technology startup Sitemate has acquired fellow startup Nomad Fleet for $2 million, bringing together two software companies focused on streamlining operations in the built environment sector.
The numbers: The acquisition comes off the back of a recent $7.5 million pre-Series A funding round by Sitemate. Following the acquisition, the company now has three platforms, 120 employees, and nearly 2,000 customers.
The context: Both Sitemate and Nomad Fleet operate in the construction technology sector and are Startmate alumni, offering software solutions to streamline operations for companies in the built environment.
Sitemate focuses on project delivery records and data flows, while Nomad Fleet specialises in asset management for large equipment such as bulldozers. The acquisition aims to create a more comprehensive suite of tools for customers who were already using both platforms side-by-side.
What they said: "[Nomad founder] Will [Smith] and I both experienced the actual pain our customers experience every day because of paper-based, manual and fragmented processes, so we each went about building a proper solution to solve this pain," said Sitemate CEO Hartley Pike.
Smith said: "There was already context and rapport between myself and Hartley, and as soon as I started seeing Nomad and Sitemate products being used side-by-side by a number of our customers, I thought, why not join forces to create an even better experience for our customers".
The source: Sitemate press release
