mynth
12/2022

SITESCAPE acquired by FARO TECHNOLOGIES

UNITED STATES Software / Industry-Specific Software REV 1m USD - 50m USD

Context

This transaction establishes a complete spectrum of field data capture by integrating lightweight, app-based mobile LiDAR workflows into an enterprise-grade reality capture ecosystem. Incorporating software capable of running on ubiquitous consumer smart devices lowers entry barriers for jobsite personnel, allowing field operators to conduct rapid spatial check-ins without specialized instrumentation. This addition effectively completes a multi-tier capture hierarchy ranging from low-resolution mobile LiDAR and 360-degree imagery to high-speed dynamic mobile mapping and millimeter-level stationary terrestrial laser scanning. At the software architecture level, the acquired capabilities are integrated into the buyer's central cloud platform, Sphere, aligning spatial scans across differing capture methods into a unified coordinate framework. For architecture, engineering, and facility management stakeholders, this technical alignment streamlines collaboration between on-site generalists performing rapid site audits and technical surveyors conducting high-precision verification, unifying all site records within a single operational environment.

SITESCAPE, which reported an EBITDA margin of in 2022, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (15.1x).

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Target

Founded in 2020 in the United States, SiteScape develops mobile 3D LiDAR scanning software tailored for consumer mobile hardware, particularly iOS devices. The company provides accessible spatial documentation tools that convert standard handheld tablets and smartphones into agile reality capture instruments. Its mobile application enables field personnel to generate scale-accurate point clouds, annotate spatial scans with photographs, take immediate measurements, and export spatial data directly into standard CAD and Building Information Modeling (BIM) workflows. SiteScape primarily serves architects, general contractors, engineers, and facility managers across the architecture, engineering, construction (AEC), and operations & maintenance (O&M) sectors. By simplifying on-site measurement and as-built verification, the platform helps field teams quickly document existing physical conditions, track project milestones, and spot installation discrepancies without requiring costly surveying equipment or specialized technical training.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (USD)

Year
Rev
EBITDA
EBIT
2022
2021

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REFERENCES

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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Acquirer: faro technologies