MineralSoft Raises $4M, Extends Market Leadership in Mineral Management Technology
HOUSTON (PRWEB) February 07, 2018 -- MineralSoft announces the completion of its Series A funding round led by Cottonwood Venture Partners (CVP), a leading digital oilfield technology investor based in Houston. Earlier investors Blue Bear Capital, an energy technology fund, and Y Combinator, the Silicon Valley seed investor, also participated in the funding round. The infusion of capital followed the signing of an exclusive partnership with oil and gas data provider DrillingInfo, and comes amid rapid growth for MineralSoft’s software platform, which helps mineral, royalty, and non-operated working interest owners and investors manage their assets. The announcement was made today at the North American Prospect Expo (NAPE) Summit in Houston, the industry’s largest event for the buying and selling of oil & gas assets, where MineralSoft is exhibiting.
“50% or more of the value produced by an oil or gas well might be distributed to non-operating interest owners, yet the vast majority of tools in the market today were designed with the operator in mind,” said Gabe Wilcox, CEO of MineralSoft. “We built our technology platform and services specifically for the non-op asset class and we’ve been met with a tremendous response so far – and with interest and investment in the category skyrocketing, MineralSoft is poised to grow accordingly,” Wilcox stated. “We are proud to be supported by CVP, Blue Bear, and Y Combinator as we continue MineralSoft’s growth and execute on our vision to build the category-defining technology company for minerals, royalties, and non-op oil & gas interests.”
The Austin-based software company is the market leader in mineral management technology, with clients spanning private equity, investment funds, family offices, endowments, foundations, E&P companies, and individuals. Rapid customer growth has required MineralSoft to significantly expand its engineering and support staff, with all R&D and customer support conducted in-house in Austin. As a result, the company recently moved its corporate headquarters to a larger facility and is planning for another expansion this year as the team continues to grow. MineralSoft views its Series A funding as a strategic opportunity to accelerate development of its core software platform while continuing to innovate and release exciting new features and functionality to serve its customer base. Having relied on word of mouth marketing since its inception, the company also plans to expand its marketing and sales efforts.
“Investment in mineral, royalty, and non-op interests has grown substantially over the last few years, but owners faced challenges and inefficiencies before MineralSoft’s product streamlined and optimized the management of those interests,” said Jeremy Arendt, Managing Partner at CVP. “MineralSoft has established itself as the clear leader in the modernization of minerals management and we are excited to partner with the MineralSoft team.”
MineralSoft’s cloud-based software platform includes portfolio management and analytics tools tailored for oil & gas investors, helping to manage large portfolios, track payback and ROI, audit revenue and expenses, and verify income. The platform also provides an exclusive integration with DrillingInfo’s leading data source for public oil & gas information, giving investors access to production volumes, permits, and rig activity within MineralSoft’s platform – all enabling unprecedented workflow efficiencies and increasing bandwidth to evaluate new investment opportunities.
About MineralSoft
MineralSoft is an Austin-based software company focused on developing solutions to manage oil & gas investments. Launched in 2015, the company has seen rapid adoption of its cloud-based software by organizations who own minerals, royalties, and non-operated working interests in oil & gas assets. MineralSoft’s technology and service offerings address the growing need for investors to manage large portfolios, track revenue, verify income, and identify new investment opportunities. Customers include financial institutions, private equity firms, family offices, funds, and oil & gas operators with non-op portfolios. Backed by top digital oilfield venture capital firms, MineralSoft has also formed strategic partnerships with leading oil & gas data providers Drillinginfo and Oildex. For more information, please visit https://mineralsoft.com.
About Cottonwood Venture Partners
Cottonwood Venture Partners (“CVP”) is a Texas-based venture capital firm partnering with companies that provide digital solutions for the oil & gas industry. CVP invests in digital technology companies that have achieved early customer adoption and require capital to accelerate growth. CVP leverages its expertise and relationships in energy and technology to help drive growth at its portfolio companies. For more information, please visit http://cottonwoodvp.com.
Ben Parker, MineralSoft, +1 281-636-9055, [email protected]
Share this article