Drillinginfo raises another $25 million to continue growth

Sep 19, 2013
Austin American Statesman

Energy software company Drillinginfo, which last year raised $165 million, has received a new $25 million investment to continue its expansion


The Austin company, which provides data and intelligence to the oil and gas industry, did not disclose the investor in the new funding round


In March 2012, Drillinginfo closed a $165 million equity investment that was led by New York-based Insight Venture Partners and also included Battery Ventures and Eastern Advisors Private Fund


Founded in 1999, Drillinginfo provides intelligence on where to find oil and gas, as well as data on who controls the mineral rights for those sites. The company has more than 3,000 customers in the industry across the United States, and those companies account for more than 90 percent of the oil and gas produced in the U.S., according to the company


The deal is the third investment in an Austin energy technology company in recent weeks. RunTitle, which operates an online marketplace for mineral acreage title information, raised $4 million from Austin Ventures. Meanwhile, DrillMap, which sells a subscription-based Internet database that displays data on wells and pipelines, raised $6.5 million from investors including Houston-based energy giant ConocoPhillips


Drillinginfo has about 450 employees, including about 200 in Austin. The company is hiring geographic information systems professionals and data architects


The company has made three acquisitions in the past year, and plans to make more


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