“We only had two months to complete the financing. Four & Five worked in the evenings and on weekends without any problems.”
Tech company Sitemark has an atypical core business: industrial drone solutions for the inspection and control of assets and sites. In simple terms, commercial drones capture images which are then converted into usable data for the customer via Sitemark’s high-quality image processing technology platform, Sitemark Fuse. The main advantage for their customers is that companies can work faster, more accurately, and more safely.
Sitemark started with just three people in 2016 and has grown rapidly since then. Now, with nearly thirty employees, eleven nationalities, and operations worldwide, Sitemark is the definition of a successful start-up.
The rapid growth has made financing an absolute necessity for the aerial data company, which is why Sitemark relies on the legal expertise of Four & Five. “The office has supported and guided us in raising 5 million euros during a capital round, by representing us in negotiations, overseeing subscription modalities, and drafting the final shareholder agreements,” says Sitemark co-founder and CEO Vishal Punamiya.
“The process was not an obvious one,” the CEO continues, “since financing takes a lot of preparation time, especially in the form of due diligence. Plus, everything had to happen very quickly and within Sitemark’s international context. Anneleen and Toon were always very accessible and knew our case through and through, of course. I particularly appreciated the fact that—given the short time frame—they were willing to work during the weekends to get everything done in time. And by short timeframe, I mean short, as we had a total of two months in which to get everything finished. Despite all that, we triumphed and I am very happy with our very successful and pleasant collaboration. Thank you Anneleen and Toon.”