Mastt, an Australian contech startup that provides real-time reporting and data insights, secured $9.5 million (£7.2m) in a Series A funding round led by OIF (Our Innovation Fund) Ventures.
Existing investors Artesian, Significant Early Venture Capital, Investible, and Gravel Road Ventures also contributed to the oversubscribed round. The new funding comes just a year after the company closed a $2.2 million (£1.6m) round.
The startup will use the funding to accelerate R&D, grow its product offering, expand its team, and reach new markets.
Company: Mastt Australia Pty Ltd.
Round: Series A
Funding Month: March 2022
Lead Investors: OIF (Our Innovation Fund) Ventures
Additional Investors: Artesian, Significant Early Venture Capital, Investible and Gravel Road Ventures
Company Website: https://www.mastt.com/
Software Category: Capital Project Technology SaaS platform
About the Company: Founded in 2019 by Doug Vincent (Managing Director), Raman Nambiar (Head of Partnerships), and Jamie Cerexhe (Head of Engineering). Mastt is a capital project technology SaaS platform that aims to digitize the tools and technologies to manage large and complex project financials in the construction industry. Their current client base includes the Australian Army, Aurecon, Jacobs Engineering, the Department of Foreign Affairs and Trade, engineering firms WSP and GHD, as well as Sydney Metro Airports. Mastt provides real-time reporting and data insights to some of the largest project owners & consultants in Australia, the US, and the Middle East. This includes the likes of Jacobs, Aurecon, AECOM, WSP, and the Australian government.