The Sydney Morning Herald has reported that construction tech startup company Matrak has received $5.85 million in investor funding. The money comes from venture capital firm Rampersand and Leigh Jasper, co-founder of Aconex, a project collaboration software company that was purchased by Oracle.
Matrak is a cloud-based materials and progress tracking software that allows each company working on a project to track and share real time information at every stage, including manufacturing, shipping, installation and reorders.
Co-founders and brothers Brett and Shane Hodgkins created Matrak after Brett was working on construction sites and seeing the paper trail, stress and cost from lack of proper materials management. Shane worked in software development and the two put their heads together to create the Matrak software. They say the software can help companies digitize their supply chain to help ensure regulations are met and projects are completed on time.
Watch a demo of Matrak: