Seed investor and former chair of Aconex, Simon Yencken, has led a $3 million bet that Melbourne start-up Matrak can be Australia’s next billion-dollar construction tech success, and improve building standards along the way.

Construction workflow management startup Matrak has secured $765,000 in seed funding, with the lion’s share coming from former Aconex chair Simon Yencken, who has previously backed Aussie unicorn Canva and art marketplace success story Redbubble.