HOUSTON--(BUSINESS WIRE)--Datagration Solutions, Inc. ("Datagration" or "The Company") announced today the closing of additional equity financing to support the growth of its business with funds slated to further advance the PetroVisor™ Platform, add to its implementations and customer success group and recruit additional global sales resources. All major existing investors, including Quantum Energy Partners' Innovation Fund, participated in the fundraising and several new investors, led by Houston-based EIV Capital, an energy-focused private equity firm.
Launched in late 2020, Datagration has already delivered significant value for multiple upstream companies globally. PetroVisor's ability to consolidate and integrate disparate data systems in a unique, scalable, and flexible format brings substantial customer value. This functionality is the key feature that enables powerful analytics, workflow automation, and AI/ML across disciplines and functions.
Datagration will use a portion of its new funding to grow its portfolio of platform-native apps and expand the use of its Unified Data Model (UDM) that can influence operational and process changes to improve asset productivity and profitability.
"E&P companies have expressed their frustration with one-off, point solutions. PetroVisor is a modernized, open, agnostic SaaS platform everyone uses in an oil and gas company, from the CEO to the Production Superintendent," said Peter Bernard, Chairman & CEO of Datagration.
"PetroVisor integrates engineering, geological, financial, accounting, production information, all key data into one version of the truth," continued Bernard. "It is deployed on any cloud, not user-defined, uses ML/AI technology, and E&P companies no longer have to worry about 'vendor lock-in.'"
"We believe the PetroVisor platform will be a game-changer for energy companies, enabling them to make better decisions through data consolidation and powerful analytics. We look forward to working with Peter and his team to support Datagration's continued growth," said Patricia Melcher, Managing Partner, EIV Capital.
"Oil and gas companies that do not embrace advanced data analytics today will soon be left behind as much of the industry has woken up to the tremendous power of data," said Jeffrey Harris, who oversees Quantum's Innovation Fund. "Our follow-on investment in Datagration is evidence of the PetroVisor platform's rising momentum and product leadership in this space."
ABOUT DATAGRATION
Datagration provides the world's Oil and Gas companies with the tools they need to integrate and model data into meaningful insights and decisions daily. Our team of data scientists, engineers, and technologists work hand in hand with our customers to build a single source of truth used across the organization for data analysis, benchmarking, internal collaboration, financial analysis, and more. To learn more about Datagration and the PetroVisor platform, go to www.datagration.com.
ABOUT EIV CAPITAL
Founded in 2009, EIV Capital is a Houston, Texas-based private equity firm specializing in providing growth equity to the North American energy industry. EIV Capital focuses on investments in businesses which create value through infrastructure, innovation or efficiency. The firm's management has extensive experience leading and investing in successful companies across the energy value chain. For more information, visit www.eivcapital.com.
ABOUT QUANTUM INNOVATION FUND
The Quantum Innovation Fund is a joint venture between Quantum Energy Partners and Jeffrey Harris's Global Reserve Group. Quantum Energy Partners is a leading provider of private equity capital to the global energy industry, having managed together with its affiliates more than $17 billion in equity commitments since inception. For more information on Quantum Energy Partners and the Quantum Innovation Fund, please visit www.quantumep.com.
