Wellington-based Projectworks, a software startup specializing in professional services automation, has raised A$7.5 million in a Series A funding round led by U.S. investor Bridgewest Group. Existing investors, including New Zealand’s Punakaiki Fund, also supported the round, which values the company at A$90 million. The funding will be used to expand Projectworks’ presence in the U.S., with a focus on building a development team in Silicon Valley, while also targeting growth in Australasia and the UK.

Founded in 2019 by entrepreneurs Julian Clarke, Matthew Hayter, and Doug Taylor, Projectworks develops software designed to help service companies run more profitable projects and businesses. The company’s software is already in use by 500 mid-market consultancies globally, including notable Australian clients like Kiandra, Bound, Diversus, and Ackama.

Hayter, who now serves as President and Chief Product Officer, said the time was right to appoint a new CEO and relocate Projectworks’ headquarters to the U.S. to meet the rising demand in North America. Mark Orttung, formerly CEO of Nexient, took over as CEO in March 2023 after joining the board in January. Orttung’s leadership marks a key moment for the company as it accelerates its expansion strategy.

“Projectworks has the right product, team, and market timing to build a truly global software business,” said Hayter. “With Mark leading the charge, we are poised to expand our impact in the global consulting industry.”

Orttung, based in San Francisco, is excited about the potential for growth, particularly in the U.S. market. “The U.S. market offers tremendous opportunity for Projectworks, and this funding will help drive our expansion, boost customer acquisition, and increase our R&D investment. We’re also focused on building a strong product and engineering team in Silicon Valley to further strengthen our platform.”

Bridgewest founder Dr. Masood Tayebi praised Projectworks’ growth and market positioning, noting that the company is well-positioned in an evolving industry with significant opportunities ahead. Punakaiki Fund partner Nadine Hill commended the team’s global momentum and dedication to delivering world-class solutions.

This latest investment round marks a significant step in Projectworks’ journey to become a leading player in the global professional services software market.