Construction technology firm receives US$10 million investment
By Lewis Tyler07 February 2023
Construction technology firm Site 20/20 has secured US$10 million (€9 million) growth equity investment from Deep Field Asset Management.
Founded in 2015, the Canada-based company employs over 100 staff and produces a range of smart products for the construction industry, including its flagship product the Guardian SmartFlagger.
Said to be the first and only smart automated Flagger Assistance Device in the industry, the Guardian SmartFlagger is designed to replace traffic control flaggers with a portable traffic system.
Site 20/20 says the funding from the investment firm will be used to advance its Guardian SmartFlagger in North America.
It will also help the company to introduce new products and expand its coverage in international markets.
Mitch Hollohan, CEO of Site 20/20, said, “Site 20/20 is humbled to be working with such an experienced investor, having a wealth of international and advanced corporate experience.
“This partnership will help Site 20/20 take the next step towards our mission to disrupt the traffic control industry.”
Jordan Moelis, managing partner at Deep Field, said, “Site 20/20 is bringing highly innovative solutions to a problem that has huge consequences for efficiency and safety in its industry, which is something we are excited to support.
“Site 20/20 has a great team and a clear vision in pursuit of an important mission. A future with more Guardian SmartFlaggers on roads is a future where the construction industry can be more efficient while keeping people safer.”