Matrak Enterprises
| Matrak Enterprises Logo | |
| Private | |
| ISIN | 🆔 |
| Industry | |
| Founded 📆 | 2013 |
| Founder 👔 |
|
| Headquarters 🏙️ | , Melbourne, VIC, Australia |
Area served 🗺️ | Worldwide |
| Members | |
Number of employees | |
| 🌐 Website | matrak |
| 📇 Address | |
| 📞 telephone | |
Matrak Enterprises, also known as Matrak, is a global construction technology company headquartered in Melbourne, Victoria, that provides end-to-end supply chain management and progress tracking for large-scale commercial and residential construction projects.[1][2] Matrak offers a SaaS solution in the form of a multi-tenant platform through a web and mobile app that gives construction companies visibility of the projects they’re working on, allowing manufacturers, suppliers and installers to track deliveries of materials, and to improve communication between different parties.[3]
As of January 2021, Matrak has raised a total of AU$9.8 million at a valuation of AU$30 million.[1]
History[edit]
The original Matrak platform was developed by co-founders and brothers Shane and Brett Hodgkins, after Brett, a computer science graduate, worked on a window installation project for his father’s business in 2013. Brett talked to Shane (also working in software development) about scaling the application, and the two bootstrapped Matrak for two years before officially launching the product in November 2016 and going full-time on the system.[4]
In August 2018, Matrak secured AU$765,000 in seed funding, with the lion’s share coming from former Aconex chair Simon Yencken, who has previously backed Aussie unicorn Canva and art marketplace success story Redbubble. The AU$765,000 consists of investment from Yencken, who was a board member at project collaboration platform Aconex for 18 years and chair between 2011 and 2014, as well as members of Melbourne Angels and several other private investors.[3] During the 2018 financial year, Matrak had an annual revenue of AU$1 million.[5]
In March 2019, Matrak secured an additional AU$264,000 in funding through the Accelerating Commercialisation Grant program operated by the Australian government to encourage innovation and international growth of Australian businesses and startups. The AU$264,000 grant was intended to help Matrak commercialise its platform and expand into Chinese markets.[6]
In June 2019, Matrak was chosen as one of the 10 most innovative startups in the construction industry by CEMEX Ventures in the third annual Construction Startup Competition 2019.[7]
In July 2019, Matrak secured AU$3 million in convertible note funding well above their target of AU$500,000.[8] The round was led by construction company Hickory Group International and Aussie VC Our Innovation Fund. Former Aconex chair Simon Yenken, who led Matrak’s seed round, was also a lead investor. In addition, Superseed Ventures, a VC backed by Matrak client Reece Group, also opted to invest.[2][9]
In January 2021, Matrak secured AU$5.85 million in Series A round funding from cloud software firm Aconex co-founder Leigh Jasper and venture capital fund Rampersand.[1]
Services[edit]
Matrak provides materials tracking, project tracking and scheduling services through a cloud-based platform and communication network that encompasses installers, manufacturers, suppliers and the full spectrum of construction delivery contractors.[10] Matrak primarily provides these services through a mobile app and web application as part of a single platform to track materials shipments through interactive construction site drawings and floorplans.[10]
The service Matrak provides is to create data transparency and connect all of the different stakeholders within a construction supply chain as follows:
Head Contractors[edit]
Head contractors have the ability to upload PDF architectural drawings which gets processed through machine learning techniques to automatically identify and capture all of the different materials on those drawings which are colour coded based on status.[11]
Manufacturers[edit]
Manufacturers have the ability to attach QR codes on their materials as they enter the production line which gets scanned as they go through each stage of the manufacturing and delivery process.[11]
Suppliers[edit]
Suppliers have the ability to monitor and track the digital record of every delivery and material from a manufacturer coming from overseas.[11]
Installers[edit]
Installers and contractors on site have the ability to look at their drawings and instantly see which materials have been manufactured, which materials are en route to site and which materials are already on site with their exact location.[11]
See also[edit]
References[edit]
- ↑ 1.0 1.1 1.2 Waters, Cara (2021-01-25). "'Huge opportunity' in construction tech: Aconex co-founder backs Matrak". The Sydney Morning Herald. Retrieved 2021-04-12.
- ↑ 2.0 2.1 Bailey, Michael (2019-07-01). "The $3m bet on the next construction tech unicorn". Australian Financial Review. Retrieved 2021-04-12. Unknown parameter
|url-status=ignored (help) - ↑ 3.0 3.1 Palmer-Derrien, Stephanie (2018-08-01). "Construction startup Matrak scores $765,000 in seed funding, including from high-profile investor who backed Canva and Redbubble". SmartCompany. Retrieved 2021-04-12. Unknown parameter
|url-status=ignored (help) - ↑ Wilkinson, Paul (2019-07-02). "Melbourne start-up Matrak attracts interest". Extranet Evolution. Retrieved 2021-04-12. Unknown parameter
|url-status=ignored (help) - ↑ Koehn, Emma (2018-09-30). "They can build it: Start-ups now selling new construction mindsets". The Sydney Morning Herald. Retrieved 2021-04-12.
- ↑ Palmer-Derrien, Stephanie (2019-03-04). "Starting from scratch: Why launching your startup in China might be harder than you think". SmartCompany. Retrieved 2021-04-12. Unknown parameter
|url-status=ignored (help) - ↑ "The 10 most innovative startups in the world that are transforming the construction industry". Entrepreneur (in español). 2019-07-18. Retrieved 2021-04-13. Unknown parameter
|url-status=ignored (help) - ↑ "Matrak: Window of Opportunity". The Venture Magazine. 2019-08-05. Retrieved 2021-04-13. Unknown parameter
|url-status=ignored (help) - ↑ Palmer-Derrien, Stephanie (2019-07-03). "Construction startup Matrak secures $3 million in funding round six-times oversubscribed". SmartCompany. Unknown parameter
|url-status=ignored (help) - ↑ 10.0 10.1 Smart, Belinda (2020-11-19). "Is disruption's time coming? Demand for offsite construction". Built Offsite. Retrieved 2021-04-15. Unknown parameter
|url-status=ignored (help) - ↑ 11.0 11.1 11.2 11.3 "Tracking app helps keeps building sites on track". Design Matters National. 2020-09-22. Retrieved 2021-04-15. Unknown parameter
|url-status=ignored (help)
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