Participated · Series A · Jul 2026

CullBeck has developed a hydrogen-based ironmaking process that uses hydrogen as a chemical reductant to significantly reduce production time. The technology is aimed at the steel industry as a lower-carbon alternative to traditional ironmaking methods. The company is characterized as deep-tech and is led by CEO and co-founder Martin Hacon. CullBeck is based in New Zealand. Financially, the company recently completed a $20M Series A round. No operational metrics, revenue figures, or detailed use-of-funds were disclosed in the coverage.

Led · Series A · Feb 2026

Auckland-based Hectre develops cloud software that helps orchards manage operations such as harvest scheduling, labor tracking, and yield analytics while also offering AI-driven computer-vision tools that grade fruit quality. Its technology is already used by leading suppliers including Vog (Italy), Nufri and Verfrut (Spain), and Borton Fruit (U.S.). With the new capital, Hectre plans to launch an AI-powered handheld scanner that instantly analyzes fruit defects and to build an online trading platform that uses AI to rebalance negotiating power toward growers. Founder and CEO Matty Blomfield projects the business can surpass US$100 million in annual revenue and reach a US$1 billion valuation within five years. The company positions itself as a data and efficiency layer that reduces waste, improves pricing transparency, and boosts margins for producers throughout the global fruit supply chain.

Participated · Series A · Jun 2025

Projectworks provides professional services automation and a project intelligence platform that connects users' ecosystems and aims to give time back to focus on billable work. The company supports more than 15,000 engineers, architects, software, and management consultants around the world. Led by CEO Mark Orttung, Projectworks focuses on product development and customer success for consulting firms. The company added $12M to its Series A in June 2025 and now has more than $20M in total funding. The new capital is intended to expand product development, go-to-market, and customer success teams. Projectworks is based in San Mateo, California. Projectworks offers a PSA platform used by around 500 customers to manage and optimise project delivery for professional services firms. The company has expanded rapidly across New Zealand, Australia, the United States, Canada, and the United Kingdom. Leadership includes founders Julian Clarke, Matthew Hayter, and Doug Taylor, with Mark Orttung as CEO. Projectworks recently completed a Series A that values the company at over NZD 100 million. The funding is earmarked to support global customer acquisition, increase R&D investment, and establish a product and engineering team in Silicon Valley. These moves are intended to accelerate the company’s expansion into the U.S. and other markets. Projectworks is a Wellington-based, cloud platform for managing professional services firms that integrates with accounting systems like Xero and CRMs like HubSpot. Launched in 2019, the SaaS product targets mid-sized consultancies in management, software, engineering and architecture, and estimates a total addressable market of more than US$100 billion with combined annual growth of 13.4%. The company reports 170% annual revenue growth and serves over 100 customers whose staff span 40 countries. Projectworks has won Xero Emerging App Partner of the Year (2020) and the Microsoft Emerge X competition, and was a 2021 Xero App Partner of the Year finalist. Leadership emphasizes a technical founding team and a product designed to eliminate multi-platform complexity for specialist consultancies. The company plans to use capital to hire developers in Wellington, expand global sales in Australia, the UK and the US, and invest in content marketing and digital advertising.

Participated · Equity · Feb 2022

Formus Labs is an Auckland, New Zealand–based developer of an automated 3D planner for joint replacement surgeries. Its cloud platform combines AI and computational biomechanics to deliver surgeon-ready, patient-personalized plans that can be produced in about an hour and updated in real time. The company is launching its Hip product offering in Australia and New Zealand and plans focused product evaluation in the United States after expected FDA approval in mid-2022. Formus is rapidly expanding its team across ANZ and the US, hiring computer-guided orthopedic surgery experts, engineers, commercial, and marketing roles. It has announced a partnership with Zimmer Biomet to co-develop and commercialize Formus Hip in Australia and New Zealand and to investigate international markets. Formus intends to use new funding to accelerate product development and its expansion into the US.

Led · Series B · Dec 2021

Founded in 2016, Whip Around offers a cloud-based platform that lets truck drivers and fleet managers perform and track mandatory vehicle inspections via mobile devices. The software aggregates inspection data to help fleets improve asset utilization, lower operating costs, and enhance safety and compliance outcomes. Initially launched for drivers, the product has expanded to serve fleet owners across the United States, its primary growth market. Customers use Whip Around to monitor defects, schedule repairs, and maintain regulatory documentation in one system. Management positions the company as a digital alternative to paper-based inspection workflows, aiming to reduce downtime and prevent costly violations. While no specific revenue or user metrics were disclosed, the company attracted significant private-equity interest, suggesting meaningful traction. Whip Around plans to leverage new capital and Accel-KKR’s operational support to accelerate product development and expand its U.S. footprint.