Provides a platform for virtual construction draw management, offering same-day inspections conducted by licensed general contractors and integrated tools for budget tracking, progress monitoring, and payment reconciliation. This streamlines the draw process, reduces fraud risk, and accelerates capital turnover by centralizing and automating key workflows for lenders and borrowers.
Funding
$3.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Construction lenders and borrowers face challenges in tracking project progress and managing draw requests, leading to delays, increased risk of fraud, and potential budget overruns. Traditional construction draw management processes often involve manual inspections, paper-based documentation, and disconnected communication channels, resulting in inefficiencies and slow capital turnover.
Solution
Sitewire provides a virtual construction draw management platform that streamlines the inspection and payment process for lenders and borrowers. The platform offers same-day virtual inspections conducted by licensed general contractors, providing real-time visibility into project progress. Integrated tools for budget tracking, progress monitoring, and payment reconciliation centralize key workflows, reducing fraud risk and accelerating capital turnover. By leveraging AI, 360° visual media, and financial tracking, Sitewire ensures that funds flow quickly, keeping construction projects on time and on budget.
Target Audience
Sitewire primarily serves construction lenders, institutional asset managers, and borrowers involved in real estate finance and construction projects.
Features
- Same-day virtual draw inspections performed by licensed general contractors
- 360° real-time budget management and progress tracking
- Integrated platform for managing draw requests, inspections, and payments
- AI-powered analytics for identifying potential risks and discrepancies
- Secure API for seamless integration with existing lending systems
- Mobile apps for offline access and on-site data capture