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Techday NZ
09-06-2025
- Business
- Techday NZ
Projectworks secures NZD $25 million in funding to drive global growth
Projectworks has closed its Series A funding round at NZD $25 million, securing investment from US fintech investor Ten Coves alongside existing shareholders. The latest funding boost takes the Wellington-founded software firm's total capital raised to more than NZD $33 million. The Series A round, which the company describes as one of the largest of its kind for a New Zealand technology business in recent years, included continued participation from Bridgewest Group and Punakaiki Fund. The investment coincides with Projectworks being awarded Hi-Tech Emerging Company of the Year at the 2025 Hi-Tech Awards. The company has also recently been recognised in the Deloitte Fast50 and the Inc. 5000 list, underscoring its growth trajectory. Strategic investment Ten Coves Managing Partner, Steve Piaker, has joined the Projectworks board as part of the investment. Piaker emphasised the shifts occurring in the global consulting market, particularly as smaller, specialist firms gain ground through technology adoption. "It's a good time to challenge the status quo," said Steve Piaker, Managing Partner, Ten Coves Capital. "With the latest advances in project intelligence, specialists with lean teams and deep experience can go toe-to-toe with larger firms — and win. Projectworks is the first end-to-end solution built for consultants from the ground up. It breaks down silos that get in the way of growth, and gives firms the tools to bid for and manage projects from a position of strength. . Having backed Mark Orttung when he served as president of BILL, we are thrilled to reunite with him and support his team as they break new ground in the professional services automation space." The funds are earmarked for expanding product development, customer success and go-to-market teams. In particular, Projectworks will focus on integrating generative artificial intelligence tools, such as automated time tracking and proposal generation, into its platform. The company expects to increase its headcount by approximately 50% in the coming year. Leadership changes Mark Orttung, who was appointed Chief Executive Officer in 2024, has headed an acceleration of Projectworks' expansion, especially in North America, since taking up the post. Orttung previously held senior positions including President and Chief Operating Officer of BILL and CEO of Nexient, which was acquired by NTT Data in 2021. Orttung said the new funding and recognition highlighted a shift in the consulting services industry, where firms face mounting pressures and must find efficiencies in their project management. "Great consulting firms spend all their time on clients. That doesn't leave any time to manage their own firms. Specialists are solving some of the world's hardest and most important problems, yet they often shortchange key areas like resource planning, project and firm profitability, time sheets, time off/expense management, and invoicing. If you don't nail the basics, nothing else matters. You can't scale. You can't make a profit. And most importantly, you can't serve your clients, employees, or shareholders. That's what makes Projectworks so special. We automate the routine so firms can focus on what really matters—profitable, meaningful, impactful work." Orttung added: "Projectworks is now a truly global company, but we retain our Kiwi attitude. We listen, we innovate, we deliver. We eliminate project chaos and help our clients focus on work that makes a real difference in people's lives. We are growing at a spectacular rate as a result." Recognition and growth Projectworks' growth was praised by the Hi-Tech Award judges, who commented on the company's strong reputation among over 600 consulting clients in more than 50 countries. The judges remarked, "Projectworks has carved out a clear niche in the professional services world, building a smart, practical software platform that grew from solving internal pain points of their own consulting business, to supporting over 600 consultancies in more than 50 countries." The panel further stated, "Projectworks is a stand-out example of how a New Zealand company can quietly and successfully go global by focusing on what services firms actually need. They've executed well and built a solid pipeline of innovation for future growth." Co-founder and Chief Product Officer Matt Hayter attributed the achievement to the dedication of the team and the confidence shown by early supporters. "We're here today because of the people who believed in us from the start. We were backed by ambitious Kiwi consulting firms - many of whom were scrappy young startups like us - and it's because of them that we grew. It's because of them that we are here today, taking on the world from Wellington. The future of NZ tech is bright and I've never been as optimistic as I am now. Sure, there are challenges and headwinds, but if there's one thing the last four years have taught me, it's that the world isn't run by the smartest or best people - it's run by the people who keep showing up. With Projectworks, I know we're just getting started." Operational progress Founded in 2019, Projectworks reports a compound annual revenue growth rate of 140% since launch. The company now serves more than 600 clients, including tens of thousands of users worldwide. In 2024, Projectworks moved its headquarters to Silicon Valley, marking a step-up in international ambitions targeting the US, UK, Australia, Canada, and Europe. Projectworks' software automates time-tracking, invoicing, resource allocation, forecasting and reporting, and integrates with commonly used workplace systems such as QuickBooks, Salesforce, Hubspot, Jira and Zapier. The company aims to give SMB consultancies a clearer overview of complex, cross-border projects. Customer perspectives Marc Foster, Vice President at Cypress Environment and Infrastructure, said, "A lot of software for consultants feels like the past -- enterprise with a capital E. Projectworks was the first solution we came across that really felt like the future. It's lightweight and nimble, not a big, clunky ERP. We've been growing like crazy the last few years, and it's reassuring to know Projectworks understands the challenges of firms like ours. It doesn't force you into a particular way of doing things. I love how it integrates with our accounting software, because it makes hiring so much easier. No matter where you are, you can always find someone who knows how to run QuickBooks." Christian Nolden, President of Groundline Engineering, USA, commented, "We've grown our team 10X over the past decade and recently made a major move into the US market—an exciting but complex transition for any company. We needed a project automation solution that could keep up with our pace, but more importantly, one that was easy to adopt and didn't require months of onboarding or training. Before Projectworks, we were juggling multiple disconnected platforms and relying heavily on spreadsheets just to get basic insights. Pulling data manually was time-consuming and error-prone, especially as we expanded globally. It was clear we needed a better way. Projectworks completely transformed how we manage projects. It was quick to set up, intuitive to use, and immediately gave us a single source of truth for all our projects. Within days, we were syncing teams across countries, tracking progress in real time, and making faster, more confident decisions. It's been a game-changer for our US expansion and beyond." Projectworks' leadership has signalled ongoing emphasis on international expansion, especially in North America, as well as continued investment in technology development and customer support teams.
Otago Daily Times
06-06-2025
- Business
- Otago Daily Times
Need seen to build builders' wellbeing
Marti Amos is the New Zealand-based head of The Professional Builder. PHOTO: SUPPLIED It was the stuff of Boy's Own lore. Growing up on Stewart Island, business owner and entrepreneur Marti Amos enjoyed a childhood which was "just one big adventure, one after the other". Fishing, hunting, learning to fire a rifle, bush walks and heading across Foveaux Strait to play schoolboy rugby at Bluff or Waikiwi. One of his earliest memories was sitting in the rear of a sea-plane as it taxied off the beach and was half-submerged under water. He looked out the window and saw fish. Following his parents' separation, he moved with his mother to the hustle of Nelson and says it was "jarring" being taken away from everything he ever knew. From 10, he worked multiple jobs to help his mother out — from a fish factory to a service station, cardboard factory to mowing lawns — and he both inherited and developed a strong work ethic. All those experiences in his early years helped give him an affinity with the working man — "just the best kind of people to be around". Mr Amos (Ngāpuhi) spent a decade at the University of Otago, from 1989 to 1999, which he described as some of the best times of his life. He studied commerce and pursued PhD research on branding. He lectured in marketing and MBA programmes, examined MCom theses and worked as a Māori students tutor and thesis officer in the commerce division. He then moved to Auckland, where he was marketing director for Honda Motorcycles NZ and country manager for Pirelli Tyres NZ, and where he has lived for 25 years. Becoming tired of working for someone else, he bought a business-coaching franchise and noted the number of builders among his clients. He discovered many were great at building but needed help to build a great business, so he decided to concentrate on the construction industry — helping "some of the hardest working, down-to-earth people I know". Since 2004, Mr Amos has focused on helping residential construction companies to systemise and scale their businesses, take control of their finances, increase revenue and buy back days of their personal time each week. He and his team at The Professional Builder — which has grown from three to 65 — have coached more than 3000 building company owners in the United States, United Kingdom, Canada, Australia and New Zealand. The business is projected to reach 100 employees within the next 18 months, while revenue is projected to double to $30 million within the same timeframe. Members have included Deloitte Fast 50 winners, builders featured in television shows The Block and Grand Designs and many Master Builders award winners. Mr Amos said more needed to be done to address high rates of suicide in the construction industry. Recent research showed New Zealand's construction sector was facing a mental health crisis; suicide rates were 25% higher than other sectors and Māori, Pasifika, women, migrant workers, apprentices and labourers were among those at higher risk. He attributed that to various factors including financial instability, low pay and poor mental health, saying those issues were amplified by the industry's boom-and-bust cycle, cost-of-living crisis and a training model that prioritised trade skills over business acumen. "Kiwi tradespeople are trained to excel on site. They are underprepared to manage the multimillion-dollar business aspects of their work, with dire consequences for their mental wellbeing. "Our construction workers account for about 7% of working-age male suicides — with nearly one worker losing his life to suicide each week and the avoidable burden and impact of suicide in the New Zealand construction industry has been estimated at $1.1 billion per annum," he said. A radical overhaul of the country's traditional construction model was needed, with greater emphasis on financial literacy being a priority, he said. "The New Zealand building industry is seeing its lowest levels of annual growth over a decade with a rate of just 0.6% in the second quarter of 2024 — a factor that is likely to exacerbate mental health concerns for many in the trade. "Kiwi builders have been taught how to create outstanding projects. They're brilliant with the tools — but no-one has taught them how to build a great business. Without a proper understanding of financial management, many building company owners were left grappling with severe cash-flow challenges, working long hours and sacrificing their personal lives. In many cases, that led to overwhelming stress and deteriorating mental health. "When you're constantly worrying about how to pay your subcontractors or secure payroll for the next week, it isn't just your business that suffers — it's your whole life," he said. A business like The Professional Builder could help but it also needed to be part of a wider mandate. A government focus on big projects such as KiwiBuild had not had the desired outcome, he said. A focus on the likes of reducing red tape in the industry would help significantly at a macro level but not at a micro level, where business owners were "struggling to understand their numbers". Groups like Mates in Construction NZ and Mike King's Gumboot Friday did some "phenomenal work" and he believed the government could be doing a lot more at grassroots level and also industry body and commercial level. Last month, Mr Amos launched a book The Profitable Builder's Playbook to help business owners improve their financial management. The company has launched an expansion programme to grow the market in the US, and there are plans to increase its physical presence there and establish partnerships with hardware wholesalers, similar to its relationships with Carters, ITM and Mitre 10 in New Zealand. The Professional Builder will be exhibiting at a roadshow in Texas in several weeks, to be followed by six seminars in the state. Need help? Life Matters Suicide Prevention Trust 027 240-0114 Need to talk? 1737, free 24/7 phone and text number Healthline: 0800 611-116 Lifeline Aotearoa: 0800 543-354 Suicide Crisis Helpline: 0508 828-865 (0508 TAUTOKO) Samaritans: 0800 726-666 Alcohol Drug Helpline: 0800 787-797 General mental health inquiries: 0800 443-366 The Depression Helpline: 0800 111-757
