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Comment: In accordance with the Wikimedia Foundation's Terms of Use, I disclose that I have been paid by my employer for my contributions to this article. PSAS0ftware (talk) 00:04, 24 June 2025 (UTC)
Projectworks is a cloud-based professional services automation (PSA) software platform developed by Spiderworks Limited, a company based in New Zealand[1].
The platform was publicly launched in 2019[2], and is used by organizations in various countries, particularly in industries such as architecture, engineering, management consulting, and software services. As of 2025, the company reports that the software is used by over 600 businesses and approximately 15,000 consultants worldwide[3].
Projectworks offers features that include time-tracking, invoicing, resourcing, forecasting, and reporting[4]. It integrates with software products such as Xero, QuickBooks Online, MYOB, Jira, Azure DevOps, Salesforce, and Employment Hero[5].
Projectworks has been described as emphasizing financial and project lifecycle intelligence, in contrast with tools that focus more on task-level project management[6]. Comparable software platforms include Scoro and Accelo[7].
History
[edit]Spiderworks Limited was founded in 2016 in Wellington, New Zealand, by Matt Hayter, Doug Taylor, and Julian Clarke. The Projectworks product was publicly launched in 2019.[8]
In April 2022, the company raised NZD$3.5 million in seed funding at a total valuation of NZD$15 million, led by Punakaiki Fund and facilitated through Snowball Effect.[9]
In March 2024, Projectworks announced a change in leadership, with co-founder Matt Hayter stepping down as CEO to assume the role of Chief Product Officer. Mark Orttung, formerly COO of Bill.com and CEO of Nexient, was appointed as the new CEO.[10]
The company raised US$5 million (NZD$8.2 million) in October 2024 as part of a Series A funding round at a valuation of US$100 million.[11] In June 2025, Projectworks announced the completion of this round, raising NZD$25 million from investors including Ten Coves Capital, Bridgewest Group, and Punakaiki Fund.[12]
Recognition
[edit]Projectworks was named Emerging App Partner of the Year by Xero in 2020, and was a finalist in the Xero App Partner category in 2021.[13]
In 2024, the company was ranked No. 557 on the Inc. 5000 list, which highlights the fastest-growing private companies in the United States.[14] In 2025, Projectworks was ranked No. 19 on New Zealand's Deloitte Fast 50 list[15] and received the Hi-Tech Emerging Company of the Year award at the NZ Hi-Tech Awards.[16]
References
[edit]- ^ "SPIDERWORKS LIMITED (NZBN: 9429042526582) - company information - Company Hub".
- ^ "About Us".
- ^ "American Chamber of Commerce in New Zealand Inc - Projectworks raises $12M to expand its project automation platform".
- ^ "Projectworks PSA Software Features Overview".
- ^ "All Projectworks Software Integrations".
- ^ https://techcrunch.com/2023/03/15/projectworks-project-intelligence
- ^ https://www.capterra.com/p/217472/Projectworks/
- ^ "About Us".
- ^ "Punakaiki Fund leads $3.5 million funding round in Projectworks". 3 May 2022.
- ^ "Projectworks appoints CEO, CPO & President international growth".
- ^ "Wellington start-up raises $8m, hires Silicon Valley CEO, injects AI". 18 June 2024.
- ^ Mitchell, Sean. "Projectworks secures NZD $25 million in funding to drive global growth". eCommerceNews New Zealand.
- ^ "NZ Startup Projectworks raises $3.5m in Seed Funding". 18 April 2022.
- ^ https://www.inc.com/profile/projectworks
- ^ "Fast 50 | Deloitte Private | Deloitte New Zealand".
- ^ "Winners".
See also
[edit]Professional services automation