Matrak raises A$5.85m Series A funding round, backed by Leigh Jasper and Rampersand

MELBOURNE, AUSTRALIA. 27 January 2021 – Fast growing Australian construction tech startup Matrak today announces that it has closed a A$5.85m series A funding round, led by Aconex Co-Founder and former CEO Leigh Jasper, and Rampersand VC. 

Established in 2017 by brothers Shane and Brett Hodgkins, Matrak is a global construction tracking network which provides end to end supply chain visibility for the construction companies. The software tracks complex material interactions enabling projects of all sizes to connect and collaborate, regardless of their location.

The software tracks the status, location and state of all construction materials throughout a project’s life, enabling companies to connect and track their progress in real time, as well as reduce risk much earlier when re-work or delays might happen.

The Series A funding comes as Matrak has delivered year on year growth of over 400%. To date, Matrak has added more than 140 projects across Australia, the UK, US,  Hong Kong, Macau, China and Thailand.  

Matrak Co-Founder and CEO Shane Hodgkins said about the year of growth and the Series A funding round:

“We are absolutely thrilled to have Leigh Jasper and the Rampersand team come on board to lead our Series A round. Rampersand have a phenomenal reputation for supporting their founders’ visions, with extremely deep experience in Australia and overseas. Getting to work directly with Leigh has been surreal. Aconex has always been an inspiration to us. Now that we’re connecting hundreds of companies globally, being backed by the co-founder of one of Australia’s biggest tech successes puts us in a phenomenal position to emulate their trajectory.

“The funding will allow us to aggressively pursue further growth, expanding our sales and marketing and pushing into Europe and Asia, particularly China and UK where we have very good early success.”

The investment brings Matrak’s total funding since launching to $9.8m.  In 2019, Matrak raised $3m via convertible notes, which followed a $765k seed round in 2018. 

Speaking about his investment, Co-Founder and former CEO of Aconex Leigh Jasper said, “I am extremely bullish on Matrak’s prospects as the construction sector globally continues its push to become more productive, with digitisation being the key driver for profitability. 

“Shane, Brett, and the Matrak team have built a product and a network which offers significant value to its customers, and they are seeing rapid growth through this natural network effect which comes from connecting all parties on building and construction projects.“

 Venture capital fund Rampersand VC’s founding partner Paul Naphtali added, 

“Great companies are built when outstanding people come together to solve real problems. We’ve looked at construction tech with great interest for some time and are blown away by Matrak’s capability and ambition. Every company claims to have a billion dollar opportunity, but with Matrak we think that could be just scratching the surface.

“Shane and Brett are hugely curious, humble yet confident, and care deeply about building a product to serve customer needs. They have managed to not just win customers at an impressive rate, but perhaps more importantly they have assembled some of the most experienced people in the construction and tech world around them. They have all of the ingredients to build a world class company. ”

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For more information:

Kate Dinon +61 487 328 738, [email protected]

Gabriela Torres-Soler +61 449 545 920 , [email protected]About Matrak:

Matrak offers end-to-end supply chain visibility for manufacturing, construction and building teams. A global construction tracking network, Matrak was designed specifically to support and simplify the complexities of moving and tracking material status from manufacture to install and anywhere in between.

Matrak allows users to track complex material interactions and manage operations from a single source of truth, offering a global digital network that helps create collaboration and connection in construction. www.matrak.com.au