A company described as “Atlassian for the built world” has raised nearly $30 million in venture capital, defying the ongoing funding slump that continues to leave Australian start-ups struggling to raise investment.

Sitemate has drawn comparisons with Mike Cannon-Brookes and Scott Farquhar’s tech giant Atlassian for both its growth trajectory and its product, which aims to replace Word and Excel with workflow software tools. The latest funding round has valued the Sydney-based start-up at close to $200 million.

Instead of being aimed at software engineers, however, Sitemate offers software for engineers working on the “built world”, including civil, structural, mechanical and electrical projects.

The start-up is led by chief executive Hartley Pike, a former field engineer with Lendlease who found himself buried in paperwork before deciding to start a software company to fix that problem.