Mastt Raises $9.5 Million in Series A Funding

Today, we're proud to announce Mastt's $9.5m Series A funding round.

When I joined the owner’s side of the construction industry 10 years ago, I was amazed to find some of the largest owners and their consultants using spreadsheets to manage $ billions worth of capital works & infrastructure projects. All that valuable data, trapped in millions of spreadsheets around the world, inaccessible for us to use!

Fast forward a few years and with my co-founders Raman Nambiar and Jamie Cerexhe, we launched Mastt in November 2019 (it was a great party!) to change that. After raising $2.2m seed funding in Dec 20, and a further year of growth, we’re pleased to announce our Series A.

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We’re becoming a global leader – Built Better.

Mastt is the first con-tech start-up globally with a direct focus on awesome software for asset owners and their project management consultants. In our short 2.5-year life, we’re now unlocking data to provide real-time reporting and data insights to some of the largest project owners & consultants in Australia, US and the Middle East. This includes the likes of Jacobs, Aurecon, AECOM, WSP, Australian Governments, Dar Al Arkan & other big names.

Now the new wave of owners & consultants are benefiting from automation and reduced duplication of effort in their day-to-day tasks and reporting.  

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Mastt was the tool I wish I had when I was grinding for 7 years in the industry!  With so many customers behind our mission, I’m more confident than ever that what we're building is truly the future of the construction industry.  We're heading in the right direction and moving as fast as we can, with $9.5m to continue fuelling the rocket ship.

Say hello to our new investors

The Series A round was led by VC firm OIF Ventures, with participation from Assignar co-founder and CEO Sean McCreanor, Assignar Chief Revenue Officer Chris Peterson and Mastt’s own chief technology officer David Jablonski.  All of the new investor’s are fully aligned with our vision, and we’ve enjoyed getting to know them, as they got to know us!

Our awesome existing investors Artesian, Significant Early Venture Capital, Investible and Gravel Road Ventures (one fund of Aconex co-founders Rob Phillpot and Leigh Jasper), also contributed to the heavily oversubscribed round in an awesome show of support for the great company we are building at Mastt.

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What's the money for?

Well, you’ll have to find out in our upcoming Webinar on Monday April 4th. To give you a short teaser, we’ll be investing the capital into:

• R&D to create new value add offerings for clients. We’re huge on leveraging our data to give back to clients deep analytics and insights, using the latest in Ai and machine learning.
• Developing of our existing Product Roadmap to extend our advantage in the owner’s market globally with amazing world class design and user experience. We’re big on this design and experience. I always think its crazy how we have great apps in our personal life to swipe and order, food, cars and other services in sleek and easy to use apps, but then our clients go to work and deliver huge economically important portfolios of projects like hospitals, schools or infrastructure and use spreadsheets. We are turning this around.
• Global expansion (US and Middle East) and domination.
• Team and Executive hiring to build out a world class team and management. If you're interested in or know anyone who would like to join our mission.

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What's coming up?

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• Mastt will be present at a number of key industry events in the first quarter of 2022 to showcase our solutions. To see a 1-on-1 tour of the software come say hi at:
  
  Property Congress:  28 - 30 March, Hotel Grand Chancellor Hobart

• Our upcoming webinar is on Monday April 4th, 10:30AM - 11:00AM. Join Doug Vincent in this webinar where we celebrate this achievement and outline how we utilise the investment towards the future development of our technology and product. Register here.

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