What is Rig Source?
Rig Source specializes in the sale and rental of drilling rigs, catering to a diverse clientele of drilling contractors. With a legacy spanning over a century, the company has established itself as a comprehensive solutions provider, offering not only a wide array of new, used, and reconditioned drilling equipment but also essential support services including parts, maintenance, and reconditioning. Their product portfolio extends to geotechnical and environmental drill rigs, positioning Rig Source as a versatile partner for various drilling operations. The company's commitment to exceptional customer service and support is a cornerstone of its business model, aiming to facilitate clients' success in acquiring, renting, and maintaining critical drilling assets.
How much funding has Rig Source raised?
Rig Source has raised a total of $150K across 1 funding round:
Debt
$150K
Debt (2020): $150K with participation from PPP
Key Investors in Rig Source
PPP
Public-Private Partnership
What's next for Rig Source?
The recent strategic investment signifies a pivotal moment for Rig Source, likely enabling accelerated expansion of its fleet, enhancement of its service capabilities, and potentially the exploration of new market segments or technological advancements in drilling equipment. As a company operating within a large-scale late-stage funding environment, Rig Source is poised to leverage this capital for significant operational scaling and to solidify its competitive advantage. Future developments may include strategic partnerships, further acquisitions, or investments in innovative drilling technologies to meet evolving industry demands and maintain its leadership position.
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