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Siteflow raises €10 million to accelerate digitalization of field operations
Paris June 24, 2022. Optimization of field operations is key to driving the performance of complex and strategic industries such as nuclear. Siteflow, a software pioneer in field operations management, will invest in the development of its solution, thanks to a €10 million Series A financing round led by Bpifrance via its Digital Venture fund. The Fonds France Nucléaire and 360 Capital, the company's historic investors, were also involved in this latest round of financing.
All complex and strategic industries, including nuclear, aeronautics, defense and energy are under pressure to produce more at lower cost and higher quality, and to adapt to increasingly tough health and safety regulations.
Field operations are insufficiently digitalized
Field operations in these industries – which include maintenance, setting up new production units, upgrading facilities to meet new safety or environmental standards, and decommissioning - are far from being fully digitalized, a transformation that is key to improving performance and safety.
In the nuclear industry, for example, 70% of project time is spent on operational administration. While this is done according to tried and tested procedures, most of the validation is done on paper.
The reference for field operations management in all complex and strategic industries
Siteflow's software solution, initially built for the nuclear industry, allows for the complete digitalization of all field operations across numerous industries, based on procedures developed by process engineering departments. Equipped with tablet computers, operators are freed from paper files and can concentrate fully on the technical aspects of their work. The result is improved quality, complete traceability, better performance, and time savings of more 50%.
Siteflow has rolled out a successful solution that fully meets the needs of the highly regulated nuclear industry. The solution has been adopted by some of the biggest players in the industry, which is a testament to its success. Siteflow is contributing to the digital transformation of the nuclear industry, as well as other highly regulated industries. The Fonds France Nucléaire is proud to support its development", said Benoit Desforges, Partner of the Fonds France Nucléaire at Siparex.
"The tool is designed for a wide range of activities, from maintenance to construction. It is highly flexible and configurable, which means it can be adapted for a wide range of industries," said Siteflow CEO and co-founder Louis Hauvette.
"Our goal at Siteflow is to support our customers in meeting their industrial challenges. We use a data-centric approach that is fully integrated into daily operational routines, to give an optimal user experience,” added Siteflow CTO and co-founder Samed Jalouali.
10 million euros to develop the solution and expand internationally
"Siteflow's solution can be replicated across all complex and strategic industries. We are convinced that Siteflow has all the necessary attributes to become a leader in industry 4.0, thanks to its ability to answer rapidly evolving digitalization needs," said Marion Aubry, Investment Director in the Digital Venture team of Bpifrance.
The funds will be invested in the development of new functionality to improve software quality and resilience, and enhanced collaboration and data sharing. And, to respond to the changing needs of these strategic markets, Siteflow has obtained ISO 9001 and ISO 27001 certification, and will continue to invest in this direction. The funds will also be used to drive Siteflow's international development, especially in Europe and the United States.
"Siteflow has the potential to become a world reference in the digitalization of field operations for complex industries," said 360 Capital Partner Nader Sabbaghian.
Contact presse Siteflow : firstname.lastname@example.org - +33 (0)6 30 07 41 39
Contact presse Bpifrance : Sophie.email@example.com - +33 (0)1 45 65 51 62
Contact presse 360 Capital : Emanuele LEVI, associé chez 360 Capital - firstname.lastname@example.org +33 (0)6 88 35 91 29
Contact presse Fonds France Nucléaire : Priscille Clément : +33 (0)6 14 80 75 22 - email@example.com