Datagration Secures Additional Capital Investment to Support Growth

HOUSTON, February 01, 2022–(BUSINESS WIRE)–Datagration Solutions, Inc. (“Datagration” or “the Company”) today announced the closing of an additional equity financing to support its business growth with funds to advance the platform PetroVisor™, to add to its successful group implementations and customers 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 end of 2020, Datagration has already delivered significant value to several upstream companies 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 AI/ML across disciplines and functions.

Datagration will use part of its new funding to develop its platform native application portfolio 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 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 production superintendent,” said Peter Bernard, President and CEO. of datagration.

“PetroVisor integrates engineering, geological, financial, accounting, production information, all key data into a single version of the truth,” Bernard continued. “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’.”

“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 the continued growth of Datagration,” 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 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.”

ABOUT DATAGRATION
Datagration provides oil and gas companies around the world with the tools they need to integrate and model data into meaningful insights and decisions every day. Our team of data scientists, engineers and technologists work hand-in-hand with our customers to create a single source of truth used across the organization for data analysis, benchmarking, internal collaboration,… financial analysis, etc. To learn more about Datagration and the PetroVisor platform, visit www.datagration.com.

ABOUT EIV CAPITAL
Founded in 2009, EIV Capital is a Houston, Texas-based private equity firm specializing in providing growth capital to the North American energy industry. EIV Capital focuses on investing in companies that create value through infrastructure, innovation or efficiency. Company management has extensive experience leading and investing in successful businesses across the energy value chain. For more information, visit www.eivcapital.com.

ABOUT THE QUANTUM INNOVATION FUND
Quantum Innovation Fund is a joint venture between Quantum Energy Partners and Jeffrey Harris’ Global Reserve Group. Quantum Energy Partners is a leading provider of private equity to the global energy industry, having managed with its affiliates over $17 billion in equity commitments since its inception. For more information about Quantum Energy Partners and the Quantum Innovation Fund, please visit www.quantumep.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220201005095/en/

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