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Venture Capital News: Site 1001 Closes $5M Series A

KANSAS CITY, MO, Developer of a new smart building maintenance and management platform, today announced it has raised $5 million in Series A funding.
Site 1001, Inc., developer of a new smart building maintenance and management platform, today announced it has raised $5 million in Series A funding led by JE Dunn. Additional participants in the Series A include Flyover Capital, Tifec, and Ward Ventures. Site 1001 will use the funding to build its engineering team and develop sales and marketing.
Site 1001 is a cloud-based software platform that digitizes, simplifies and automates facilities management and maintenance. Traditionally time-consuming tasks that required a combination of paper documents and multiple software systems are combined into a single mobile app that goes anywhere the facilities professional goes. With Site 1001, the user merely walks into a room and scans a quick code with the app. The system then pulls up detailed facilities and asset information--everything from structural and mechanical drawings to the type of carpet and light bulbs--for that room. The app can also create task lists, log service, issue work orders, and perform a number of other functions including adjusting building controls via integrations with building automation systems and smart building gateways.
'Site 1001 bridges the gap between the old hodge podge of paper and PC-based facilities management systems of the past 30 to 50 years, and the hyper-connected and automated 'smart' building systems of tomorrow,' said Cleve Adams, CEO of Site 1001. 'By bringing all that legacy information in, combining it with the real time information connected building controls generate, and putting it all in the hand of the person who needs it when and where he needs it, we can dramatically reduce operational costs and extend the life of the building,' he said.
Site 1001 was originally developed as a 'skunkworks' project spearheaded by Site 1001's CTO, Eric Hall while he was a vice president at JE Dunn, a leading general contractor whose hallmark is signature projects like metropolitan hospitals, high rises and performing arts centers. Hall, an architect and construction supervisor, was frustrated by what he saw as a major shortcoming in the information handoff between the builder and the building owner.
'As a construction company we used tools like enterprise tools like resource planning and building information modeling (BIM) to track every detail of what went into the building -- from the $6 million chiller on the roof to the $2 electrical outlet in the basement supply room,' Hall said. 'But those systems are extremely expensive and difficult, so very few on the building operations side use them.'
Without a way to leverage that information, Hall believes roughly 80% or more of the building information collected during construction is lost when the keys are turned over to its owner.
'Over the lifetime of the building, owners spend four times what it cost to construct on management and maintenance,' Hall said. 'I thought, if owners had the tools that would allow them to use all the information we compiled during construction as well as all the new information the building generated, not only would they reduce a lot of that spending, but quite likely extend the life of the building as well.'
As a result, Hall developed Site 1001 using the model he learned from BIM in construction, but focused on the facilities manager. Site 1001 is cloud-based so IT infrastructure isn't necessary, and recognizing that facilities professionals are rarely sitting behind a desk, was developed to be mobile-first, maximizing features and functions for ease-of-use on a mobile screen. Site 1001 is also location-based rather than asset-based. By organizing based on building > area > room, facilities personnel merely go to a room, scan a quick code with their app and get an interactive list, photos, schematics and detailed information on every asset in the room. Finally, Site 1001 was also built to natively integrate with other systems like building automation, energy management, 'internet of things' (IoT), analytics and other connected systems core to smart buildings and smart cities.
'In the next few years smart building technologies are going to be mainstream and building operations will be transformed,' CEO Adams said. 'Building automation, analytics and smart management will be key to reducing costs, increasing efficiency and extending the life of buildings and building ecosystems by 20% or more. In a couple of years it will be no big deal that a light bulb can request its own work order to be replaced, and it will be Site 1001 that is there to accept the work order and notify the nearest facilities manager to complete it.'
About Site 1001
Site 1001 is a next generation building management platform designed for the smart building revolution. Site 1001 combines a cloud-based, mobile-first facilities management platform with building automation and IoT technologies to provide the first 'building intelligence' platform for facilities professionals, building owners, managers and operators. Site 1001's patented location-based asset management gives facilities professionals the ability to take full-feature, enterprise-class facilities management wherever their smartphone goes. By integrating paper documents, legacy building data and the latest in smart building and IoT technologies, Site 1001 helps make every building, new or old, a smart building. For more information, visit the Site 1001 website at, follow us on Twitter at @site1001, or linkup with us on LinkedIn.
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