What is RigUp?
Founded in 2014, RigUp operates a sophisticated digital platform designed to modernize the oil and gas service procurement process. By providing a centralized marketplace, the company enables buyers and service providers to transact with greater transparency and efficiency. This digital transformation of traditional energy workflows addresses long-standing inefficiencies in field operations, positioning RigUp as a leader in the energy-tech vertical. The platform's ability to scale across various oilfield service categories has made it an essential tool for operators looking to optimize their vendor management and operational expenditures.
How much funding has RigUp raised?
RigUp has raised a total of $423.8M across 6 funding rounds:
Angel/Seed
$3M
Series A
$15M
Series B
$15.8M
Debt
$30M
Series C
$60M
Series D
$300M
Angel/Seed (2014): $3M with participation from Boxgroup, Founders Fund, and Great Oaks Venture Capital
Series A (2016): $15M led by Great Oaks, Box Group, FreeS VC, Moore Capital, Founders Fund, and GE Ventures
Series B (2018): $15.8M supported by Founders Fund
Debt (2018): $30M featuring Silicon Valley Bank
Series C (2019): $60M backed by Quantum Energy Partners, Founders Fund, Bedrock Capital Management, and Global Reserve Group
Series D (2019): $300M with participation from Quantum Energy Partners, Founders Fund, Andreessen Horowitz, and Bedrock Capital Management
Key Investors in RigUp
Founders Fund
Founders Fund invests in the world's most important and valuable companies across all geographies, sectors and stages. The firm's partners have been founders and early funders of companies including PayPal, SpaceX, Palantir, Anduril, Airbnb, Stripe and Facebook.
Quantum Energy Partners
Quantum Energy Partners is a leading global provider of private equity, credit, and venture capital to the responsibly sourced energy and energy transition sectors.
Great Oaks Venture Capital
Great Oaks Venture Capital is an early-stage investment firm focused on identifying and supporting founders building transformative companies across software, marketplaces, and enterprise solutions.
What's next for RigUp?
With the infusion of capital from its latest financing round, RigUp is well-positioned to accelerate its market penetration and expand its service offerings within the broader energy ecosystem. The strategic focus will likely shift toward deepening its technological moat, enhancing platform features for enterprise-grade compliance, and potentially exploring adjacent sectors within the energy transition landscape. As the industry continues to prioritize digital adoption, RigUp's ability to maintain its growth trajectory will depend on its capacity to integrate further into the operational workflows of major energy producers while maintaining the agility that defined its early success.
See full RigUp company page
