Quantum Energy Partners and Global Reserve Group Lead $11 mi
HOUSTON, Sept.16, 2020 /PRNewswire/ -- Quantum Energy Partners and Global Reserve Group have led an $11 million equity financing to support the growth of Datagration Solutions, Inc. ("Datagration™"). Datagration currently delivers PetroVisor™, an open architecture software platform that improves the profitability of upstream operators by aggregating and integrating data from disparate systems into one cloud-based (or on-premise) platform with built-in workflow solutions to complete real-time analytics.
Datagration™ has assembled an experienced executive management team with a proven record of successfully growing and selling global enterprise software. Energy company software industry veterans Peter Bernard, Jorge Machnizh, and Ike Epley lead Datagration's founding senior management team.
The PetroVisor™ platform automates numerous operational workflows such as portfolio management, asset development, well productivity enhancement, and machine learning. Super-majors, national oil companies, and independents worldwide can easily leverage their data from all incumbent legacy systems in a collaborative approach, ultimately optimizing processes, operating costs, and capital expenditures while improving the efficiency of existing personnel. Utilizing the platform ecosystem approach eliminates legacy data logic dependency and breaks down existing organizational silos to deliver data excellence and continuous operational improvement. Datagration will use a portion of its new funding to build upon the PetroVisor platform by adding value-enhancing workflow automation solutions for upstream operators.
Datagration is a member of the Microsoft "One Commercial Partner Program" and is currently in many worldwide co-sell opportunities with Microsoft Energy. Datagration is also in Amazon's AWS Partner Network.
"PetroVisor has already delivered game-changing financial results for many E&P companies and is ready to scale globally. The platform increases returns out of legacy brownfield and greenfield reservoirs, and gives engineers more time to make engineering decisions that will improve profitability," said Executive Chairman Peter Bernard. "We are very pleased to welcome Quantum and Global Reserve Group to the team."
"Datagration is the sixth energy technology venture capital investment that Global Reserve Group has made in partnership with Quantum. We were drawn to this opportunity by the strength of the management team and the quality of PetroVisor, as we saw it as a tremendously easy to implement solution for E&P companies that could meaningfully and quickly enhance their operational results and cash flow," said Jeffrey Harris, founder of Global Reserve Group.
"The next step change innovation for the oil & gas sector is to properly harness the power of data. Datagration's PetroVisor platform will help upstream companies realize the potential of advanced data analytics and workflow automation," said Wil VanLoh, founder and CEO of Quantum Energy Partners.
ABOUT DATAGRATION SOLUTIONS
Formerly named Oilsphere, Inc., management decided to change the name of the company to reflect more closely what the company delivers. Datagration delivers an easy to implement, open, and collaborative ecosystem of domain-specific platforms that create solutions for E&P organizations by aggregating and integrating data from disparate legacy systems, databases, and unstructured documents into a unified cloud-based or on-premise environment. Combined with advanced AI / ML analytics, Datagration provides organizations with enhanced decision-making opportunities to maximize value creation. For more information on Datagration, please visit www.datagration.com.
ABOUT QUANTUM ENERGY PARTNERS
Founded in 1998, 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, please visit www.quantumep.com or contact Michael Dalton at (713) 452-2110.
ABOUT GLOBAL RESERVE GROUP
Jeffrey Harris established Global Reserve Group in 2012 following a 29-year career at Warburg Pincus. As a senior partner at Warburg Pincus, he had a long history of successful investing in technology and energy companies. He was instrumental in creating and building the firm's global energy practice and directly overseeing several billion dollars of equity investment in numerous successful oil and gas-related ventures. For more information on Global Reserve Group, please visit www.globalreservegroup.com.
SOURCE Datagration Solutions, Inc.