Construction site management platform, SignOnSite, has announced a seed funding raise of $590,000 as it looks to take on Australia’s $207 billion construction market.
Launched in mid-2016, SignOnSite has already reached impressive milestones, with $1.6 billion worth of active projects across Australia and New Zealand currently under management on its platform – which is taking manual compliance requirements online to overhaul site safety, attendance and evacuation processes.
The recent round led by Sydney Angels raised over half a million dollars in total, with $260,000 contributed by members of the angel investor group and Sydney Angels Sidecar fund. Further capital was contributed by private industry investors.
Sydney Angels investor and Senior Consultant with engineering firm WSP|Parsons Brinckerhoff, James Smithers, said that mobile technology is fast enabling the construction industry to innovate its manual processes.
“Mobile technology has opened up so many new opportunities for improving upon how things are done on construction sites, and SignOnSite has nailed it with its safety focus and ability to connect and communicate with every person on-site.
“With the app already installed on every on-site person’s phone, this creates further opportunities to scale the platform and its functionality, in particular around data capture and industry insights. The Sydney Angels members could not overlook the future potential of SignOnSite as a key innovator within Australia’s billion-dollar construction market, which is expected to reach $15 trillion globally by 2025,” Smithers added.
