Datagration secures additional capital investment from Quantum, EIV Capital

Datagration Solutions Inc. announced the closing of an additional equity financing on February 1 to support the growth of its business with funds to advance the PetroVisor platform, strengthen its implementations and customer success group, and recruit additional global business 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 .

“E&P companies have expressed frustration with ad hoc, one-off solutions. PetroVisor is a modernized, open and agnostic SaaS platform that everyone uses in an oil and gas company, from the CEO to the superintendent of production,” Peter Bernard, president and CEO of Datagration, says.

Launched in 2020, Datagration has already delivered significant value to several upstream businesses around the world. PetroVisor’s ability to consolidate and integrate disparate data systems into a single, scalable and flexible format delivers substantial customer value. This functionality is the key feature that enables powerful analytics, workflow automation, and artificial intelligence/machine learning (AI/ML) across disciplines and functions.

“PetroVisor integrates engineering, geological, financial, accounting, production information, all key data into a single version of the truth,” added Bernard. “It’s deployed on any cloud, non-user-defined, uses ML/AI technology, and E&P companies no longer have to worry about ‘vendor lock-in’.”

Datagration will use part of its new funding to grow its portfolio of platform-native applications and expand the use of its Unified Data Model (UDM) that can influence operational and process changes to improve productivity and profitability. actives.

“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 enormous power of data,” said Jeffrey Harris, who oversees Quantum’s innovation fund. “Our follow-on investment in Datagration is proof of the growing momentum of the PetroVisor platform and product leadership in this space.”

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