HammerTech Announces $10 Million Series A Funding Led by Arrowroot Capital
MELBOURNE, Australia, April 1, 2019 /PRNewswire/ -- HammerTech, the leading mobile provider of health, safety and quality software for the construction industry, announced today it has completed its Series A financing.
Led by Santa Monica-based Arrowroot Capital, a leading growth equity firm specializing in B2B software, the investment will enable HammerTech to further establish market leadership and continue development of its growing suite of software solutions for the construction industry. The investment will be used to accelerate the product roadmap, grow the sales & marketing teams and support continued expansion into the United States. As part of the transaction, Chuck Haling and Matt Klein, from Arrowroot Capital, will be joining the board.
"It's an exciting time for HammerTech and we are thrilled to have gained support and investment from Arrowroot," said Milton Walters, CEO of HammerTech. "Within five years of being founded, we've worked tirelessly to introduce an advanced software platform to construction that empowers operational excellence. With Arrowroot's experience and partnership we're looking forward to enhancing our product capabilities, growing our global footprint, and increasing collaboration on job sites."
"HammerTech has positioned itself to be the go-to health, safety and quality software for the construction industry. Their mobile-first platform drives operation efficiencies, keeps workers safer and improves quality across all aspects of the construction process," said Matthew Safaii, Arrowroot Capital's Founder and Managing Partner. "We are excited to partner with the HammerTech team to help scale their platform around the globe."
HammerTech's subscription-based platform is available on all devices and is designed to meet the demands of companies seeking to better manage their operations and HSEQ obligations. HammerTech customers typically see results in valuable time saved and increased safety & quality measures. The company works with leading, global construction companies including DPR, Hutchinson, Mirvac, LendLease and more.
Over the past year, HammerTech has made significant strides increasing its foothold in the Australia and North America markets and has doubled its client base. The company works with leading construction companies worldwide, has tens of thousands of users on the platform and is being used on billions of dollars worth of construction projects globally. For more information on the platform, visit https://hammertechglobal.com.
About HammerTech
HammerTech is a global construction technology company that provides a cloud-based, collaborative performance & productivity platform, ensuring operational efficiency, quality, and safety. The company provides 16 integrated modules that make it possible to have everything in one place, allowing customers to replace paper, excel, and individual apps. The company was founded by five co-founders: Ben Leach, Bradley Tabone, James Harris, Andrew Hogben and Lucas McDonald. For more information, visit www.hammertechglobal.com.
About Arrowroot Capital
Arrowroot Capital is a global growth equity firm based in Santa Monica, CA, focused on minority, majority, and buyout investments in B2B software companies. The firm serves as a catalyst for growth-related initiatives by partnering with management and leveraging its deep enterprise software expertise to deliver meaningful, tangible value. Arrowroot targets initial equity investments in the range of $5 million to $25 million and has the flexibility to pursue larger opportunities as well as a broad range of transaction types. Arrowroot also targets add-on acquisitions for its portfolio companies with a wider range of size and general criteria. Learn more at http://www.arrowrootcapital.com.
HammerTech Media Contact:
Virginia Chere Lucett
Phone: 480.299.3890
Email: chere.lucett@hammertechglobal.com
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SOURCE HammerTech
