Mastt to expand business overseas with OIF Ventures-led $9.5Mn fund
Category: #business  By Saipriya Iyer  Date: 2022-03-15
  • share
  • Twitter
  • Facebook
  • LinkedIn
Mastt to expand business overseas with OIF Ventures-led $9.5Mn fund

The company aims for offshore growth across the U.S. and Middle East

Mastt, a construction technology startup, has reportedly raised $9.5 million building upon its goal to pursue offshore growth.

The latest funding round led by OIF Ventures witnessed participation from others such as Mastt CTO David Jablonski, Co-founder of Assignar Sean McCreanor, and Chief Revenue Officer Chris Peterson.

Additionally, the round involved existing investors including Significant Early Venture Capital, Investible, Artesian, and Gravel Road Ventures.

Last year, Mastt successfully nabbed $2.2 million in seed round dedicated for overseas expansion by launching the software into the Middle Eastern and American markets.

With 40 staff globally, the latest funding underpins Mastt’s pursuit for worldwide expansion and will integrate additional 15 roles across engineering, product development, and sales over the next six months.

Primarily, Mastt’s software platform specializes in capital project technology acting as the focal point for project owners that deal with complex programs with a solid construction projects portfolio.

Currently, the company’s subscription software service is used by more than 500 projects all across the globe, with a vast client base comprising of the Department of Foreign Affairs & Trade, Australian Army, Jacobs Engineering, and Aurecon.

Mastt also serves various engineering firms including GHD, Sydney Metro Airports, as well as WSP.

Founded in 2019 by Raman Nambiar, Doug Vincent, and Jamie Cerexhe, Mastt has demonstrated its ability to counter a key challenge faced by the construction sector over the last one year.

As per Vincent, the company’s goal is to serve large capital and infrastructure projects by simplifying their management of spreadsheets, aligning perfectly with the overall development of the industry.

With the latest funding, Mastt will be able to leverage the data potential of its software platform that provides customers with predictive decision-making as well as insights.

Moreover, the startup plans on investing more in machine learning capabilities to allow infrastructure portfolio managers to make decisions faster, marking a ground-breaking change considering the conventional methods relied on 60-year-old data.

Source Credit: https://www.startupdaily.net/2022/03/construction-software-startup-mastt-bags-9-5-million-for-global-push/

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Saipriya Iyer

Saipriya Iyer    

Saipriya Iyer currently works as a content developer for GroundAlerts. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had previous experience of 3 years under her belt, she has dabbled with website ...

Read More >>

More News By Saipriya Iyer

British MPs: Energy bills to rise if Drax gets more government support
British MPs: Energy bills to rise if Drax gets more government support
By Saipriya Iyer

MPs from the UK have reportedly cautioned that if the government jumps into giving power station operator Drax more state support, people may find themselves paying higher energy bills. Nuclear and renewable power generators are being encouraged t...

Swedish firms Instabox and Budbee to merge as Instabee in a $1.7B deal
Swedish firms Instabox and Budbee to merge as Instabee in a $1.7B deal
By Saipriya Iyer

Stockholm-based last-mile delivery firms Instabox and Budbee have reportedly planned to ink an 18 billion krona ($1.7 billion) merger. The two organizations, which were both launched in 2015, act as the logistics and delivery partners for well-kno...

Uber probes computer system breach, takes Slack system offline
Uber probes computer system breach, takes Slack system offline
By Saipriya Iyer

Uber Technologies, the American mobility service provider, has reportedly uncovered a breach in its computer network on Thursday, forcing the organization to shut down some of its internal communications and engineering networks while it investigated...