Acquisition to Simplify Reality Capture Workflows and Accelerate Automation in Construction and Energy Industries
SAN FRANCISCO, Oct. 12, 2022 /PRNewswire-PRWeb/ -- Acquisition to Simplify Reality Capture Workflows and Accelerate Automation in Construction and Energy Industries
- Combination will create world's most complete reality capture platform – enabling users to perform aerial, ground, interior and exterior capture in one integrated solution.
- Deal meets industry demand for and accelerates both companies' roadmaps to build "a single platform to document, inspect and measure the exterior and interior of their assets and infrastructure".
DroneDeploy, the leading aerial reality capture platform, today announced that it has entered into a definitive agreement to acquire StructionSite, a leading provider of ground reality capture for the construction industry.
The acquisition will unify the two leading solutions for aerial and ground capture into one complete platform, enabling customers in the construction, energy and other industries to seamlessly deploy aerial drones, ground robots and handheld 360-degree cameras to document their sites.
The combination will also accelerate automation in some of the world's largest construction and energy companies, which are increasingly adopting DroneDeploy's autonomous ground robotics and drone-in-a-box solutions to improve efficiency, reduce risk and mitigate rising costs.
Better together
"Companies across industries have been asking for a unified view of their sites: a single platform to document, inspect and measure the exterior and interior of their assets and infrastructure," said Mike Winn, CEO and co-founder of DroneDeploy. "We're excited to deliver on this, combining DroneDeploy's leadership in aerial reality capture with StructionSite's leadership in ground reality capture to enable full reality capture for 40% of the top 400 general contractors."
"I am thrilled that with the DroneDeploy and StructionSite teams joining forces, our combined technology, resources and expertise will deliver the unified experience our construction customers and the wider industry have been asking for," said Matt Daly, CEO and co-founder of StructionSite. "Together, we can accelerate StructionSite's product roadmap through an integrated platform that will enable some of the world's largest construction companies to deploy autonomous aerial and ground robots to deliver efficiency and cost savings at scale."
DroneDeploy is already the market share leader in aerial reality capture, helping its customers spanning 190 countries capture an instant understanding of their operations through drone data, with over 300 million acres and 1.7 million sites mapped to date from 7.9 million flights. The company has a history of expanding its platform through acquisitions, including the addition of its photogrammetry engine, flight services offering and, with its acquisition of New Zealand-based robotics software company Rocos, the extension of DroneDeploy's reality capture capabilities to autonomous mobile ground robots.
Since StructionSite's launch in 2016, its customers have used its ground reality capture technology to capture over $190 billion of construction volume, providing them with unparalleled documentation and insights related to both progress and quality. Over 500 builders find a competitive edge with StructionSite, increasing the profitability and efficiency of their project teams, which has spurred rapid customer adoption and three-times annual growth in active projects.
The deal is expected to close in late October and is subject to customary closing conditions.
On November 1, Mike Winn and Matt Daly will host a live event, where they will share their vision for the combination of the two solutions, and what it means for customers and the wider industry.
Advisors
Wilson Sonsini Goodrich & Rosati, P.C. is acting as legal advisor to DroneDeploy in the transaction.
About DroneDeploy
DroneDeploy is the leading reality capture platform, making the power of interactive digital twins accessible and productive for everyone.
Trusted by Fortune 500 companies globally, DroneDeploy transforms sites, structures and assets into easy-to-understand digital representations that are accessible from any location, altitude or angle – all in one platform. Intuitive by design, DroneDeploy helps businesses in the construction, energy and agriculture industries to save time, improve safety and lower unforeseen costs throughout their entire operation.
DroneDeploy is headquartered in San Francisco, with our team of global experts located throughout the U.S., Asia-Pacific and Europe. To learn more, visit http://www.dronedeploy.com, and join the conversation on LinkedIn, YouTube, Instagram and Twitter.
About StructionSite Launched in 2016, StructionSite is a leading provider of interior reality capture for the construction industry. Our intelligent project tracking platform provides customers in-depth and organized insights into the status of work completed on a jobsite using 360° video, photo and AI-powered algorithm mapping. StructionSite's web and mobile applications are designed to easily capture project progress from every angle and at every phase of construction, giving contractors and project owners the ability to track projects, validate schedules and eliminate re-work. Learn more at StructionSite.com.
Media Contact
Amber Moore, Moore Communications, 1 5039439381, [email protected]
SOURCE DroneDeploy
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