Saturday, November 26, 2022

Foresite Technology Solutions Rakes $8M in Financing to Introduce its Construction Platform

By ET Bureau - July 01, 2022 2 mins read

Foresite Technology Solutions, LLC (Foresite), a technology company focused on the construction industry, announced $8 million in financing in a funding round led by Gallant Capital. The funding will be used to deploy Foresite’s construction platform to support builders and trades in driving efficiencies, safety, quality, training and regulatory compliance directly at the jobsite.

Foresite’s platform solves the biggest challenges faced by builders and trade contractors by increasing productivity, safety, and efficiency at the jobsite, while supporting training and upskilling of the trades. The platform replaces numerous manual processes and siloed technology applications while reducing inefficiencies and cost over-runs, resulting in builders and trades having an unprecedented control over project profitability.

Foresite, which was founded in June, 2021, will deploy its flagship product in the third quarter of 2022.

Also Read: IT Leaders on Transitioning from CIO to Consultant

“As a lifelong veteran of the construction industry, I have witnessed the increasing complexities of managing cycle times, project budgets and quality while ensuring the jobsite remains safe and in compliance with an expanding and ever-changing regulatory environment,” said John Gillett, founder and CEO of Foresite. “These are challenges we can now solve real-time by bringing Foresite directly to the jobsite and orchestrating the workflows in a non-intrusive way, driven by Artificial Intelligence, expert content, and analytical outcomes.”

Foresite is a complete solution platform which targets four key areas of the jobsite: efficiency and productivity; safety; quality control; and regulatory compliance. Combined with multi-language support, microburst learning content, trade-driven checklists and mobile offline accessibility. The funding will support the platform becoming the most comprehensive operations management solution in the construction industry.

“We strongly believe in Foresite and are excited to support the management team through what we see will be an industry changing platform,” said Anthony Guagliano, Partner at Gallant. “This purposeful technology will immediately benefit builders and trades alike.”

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ET Bureau

The Enterprise talk Bureau has five well-trained writers and journalists, well versed in B2B enterprise technology industry, and constantly in touch with industry leaders for the latest trends, opinions, and other inputs- to bring you the best and latest in the domain.

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