Foresite Technology Solutions Secures $8M in Financing to Launch its Construction Platform
The platform, which will launch in Q3, increases profitability for builders and trade contractors through innovation at the jobsite
COSTA MESA, Calif., June 30, 2022 /PRNewswire/ -- 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.
"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."
For more information, visit https://www.foresite.tech/.
About Foresite
Foresite is an innovative and transformative construction platform built on 25 years of intellectual property and industry knowledge. The platform provides intelligent profitability management for field operations, serving builders, trade contractors, manufacturers, and insurers, in addition to unprecedented control over critical operational processes. Users access preconfigured content-based solutions such as workforce efficiency and productivity, logistics, safety, quality control, and regulatory compliance, rapidly driving process optimization at the jobsite. For information, visit: https://www.foresite.tech/
About Gallant Capital Partners
Gallant Capital Partners is a private equity firm that invests in technology, industrial and business services companies. Gallant executes on an operationally focused investment strategy with a focus on partnering closely with companies that can benefit from its extensive industry relationships and operating expertise. The firm partners with owners, founders, family-owned companies and management teams to maximize value and long-term, sustainable growth for portfolio companies. Gallant Capital Partners was founded in 2018 and is headquartered in Los Angeles. For more information please visit: www.gallantcapital.com.
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SOURCE Foresite
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