In a new expansion deal for Atlanta-based company Citiri, the Black-owned software company has just received a Series A growth investment from Pensacola-based RCP Equity to help them transform airport and transportation operations, Black Enterprise reports.
Citiri — a leading provider of Operational Readiness software that helps manage major airport and public transportation construction projects — announced the new funding as it looks to scale up and increase its number of new airport and transportation improvement projects, largely brought on by the COVID-19 pandemic, according to a press release.
The new funding will also increase the need for greater stakeholder involvement in the commissioning and pre-commissioning processes, and pressure to lower costs as construction budgets are expected to shrink, a press release states.
This funding round will ultimately help Citiri serve more airport and public transit customers as well as accelerate expansion into other industries like healthcare or utilities that serve a multitude of consumers.
The innovative cloud-based software provider is successfully used by clients as large as San Francisco International Airport, Los Angeles World Airports (LAX) and the Port of Seattle. Now as a result of their funding round, they are positioned for immediate and rapid growth, according to Citiri co-founder and CEO, Ortez Gude.
“Demand for our software among airport and transit executives, operators, consultants, and program managers was growing rapidly, even before the COVID crisis,” said Gude in a press statement. “The investment from RCP gives us the ability to serve more airport and transit hubs and expand into other major complex construction environments as such people-dense facilities evolve and adapt to the post-COVID reality.”
Citiri’s versatile software plays an important role in the transportation industry as far as operational resilience, safety management, incident response and reporting are concerned.
By coordinating their platform to help formulate multiple and complex, years-long tasks with different project and operations stakeholders, Citiri is setting an industry standard for not only project planning, execution, and transition, but ongoing operations and maintenance as well.
“Citiri is a great match for RCP because of the quality of its product and its potential for explosive near-term growth across many transportation and construction projects,” said RCP partner Cleve Bellar, who will join Citiri’s board of directors as part of the new deal. “Citiri also brings to the table a committed founder-led team with the vision and expertise to create a better way to incorporate stakeholder and end-user needs into the planning and construction processes. We believe the pieces are in place and the timing is right for Citiri to revolutionize these critical, complex functions.”
For more information on Citiri, visit their website.