ProjectWorks, a project intelligence platform for fast-growing consulting firms, announced that it has secured $12 million in additional funding through its Series A round, led by new investor Ten Coves Capital, with existing investors including Bridgewest Group and Punakaiki Fund participating. This latest investment brings Projectworks’ total funding to over $20 million.
The new funding round, which follows the 2024 appointment of Projectworks CEO Mark Orttung, reflects a decisive shift in the global consulting market. Driven by AI and new workplace automation solutions, the world’s 7 million small to medium-sized firms are increasingly securing major projects in fields such as energy grid resilience, high-speed transportation, cybersecurity, and risk analysis.
Projectworks’s cloud-based software automates time-tracking, invoicing, resourcing, forecasting, and reporting, helping SMB consultancies run more efficiently and gain deeper insights to drive greater profitability. Projectworks serves as the nerve center for the business, integrating with popular workplace solutions such as QuickBooks, Xero, Salesforce, HubSpot, Jira, and Zapier.
Launched in New Zealand in 2019, Projectworks has achieved a 140% compound annual revenue growth since its launch. In 2024, it opened new headquarters in Silicon Valley. It appointed Mark Orttung, former president and COO of BILL and CEO of Nexient (acquired by NTT Data in 2021), as CEO to accelerate its expansion into North America, the United Kingdom, and other global markets. Under Orttung, Projectworks has expanded its customer base to over 600 companies, with tens of thousands of users operating across more than 50 countries.
How the funding will be used: Projectworks will deploy the new funds to expand its product development, go-to-market, and customer success teams. Specific areas of investment include the development of generative AI tools for the Projectworks platform, including tracking time and generating proposals and quotes. Projectworks plans to grow its headcount by approximately 50% over the coming year.
New board member: As part of its growth investment, Ten Coves’s Steve Piaker will join Projectworks’s board of directors.
KEY QUOTES:
“It’s a good time to challenge the status quo. 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.”
Steve Piaker, Managing Partner, Ten Coves Capital
“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.”
Marc Foster, Vice President at Cypress Environment and Infrastructure
“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.”
Christian Nolden, President of Groundline USA
“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. By eliminating project chaos, it helps firms focus on work that makes a real difference in people’s lives.”
Mark Orttung
