Waterfield Energy and M33 Growth Partner to Accelerate Expansion
Strategic alliance will expand oil and gas software company's resources to meet customer demand
TULSA, Okla., Sept. 26, 2018 /PRNewswire-PRWeb/ -- Waterfield Energy, a leading provider of advanced oil and gas software, and M33 Growth, a growth stage investment firm, today announced they have partnered to accelerate Waterfield's technology innovation, go-to-market investment, and customer success resources.
An oil market rebound, and the resulting merger and acquisition flurry has created a unique opportunity for Waterfield Energy. "While our competitors have been busy managing through changing ownership, we have made unprecedented strides in the development of our fully customizable cloud-based and on-premises accounting software solution," said Pete Waldroop, CEO at Waterfield Energy. "Our transparent and predictable pricing, streamlined upgrades, and unmatched support has led us to a 95% customer satisfaction rating and garnered the trust of some of the most respected names in the oil and gas industry. Nearly half of our customers have chosen to switch from a competitor to our more modern offering. We see tremendous opportunities to accelerate our product development and growth. This led us to partner with M33 to expand our resources and quicken our time to market with on-demand solutions."
M33 Growth's mission is to partner with bootstrapped, high-growth companies located outside traditional startup hubs who have built industry-leading products. "We see Waterfield as a perfect partner," said Mike Anello, co-founder and managing director of M33 Growth. "Their team's deep expertise and unique vision for solving the complex oil and gas accounting challenges are the reason we invested. As a minority partner, the M33 team will be supporting Pete and his team, adding our strategic and operational expertise to support Waterfield's product development and strategic acquisitions to expand their leadership position."
Waterfield Energy (WE) provides a fully-integrated software suite for the midstream and upstream sectors. From day one, the company has been committed to creating an innovative, collaborative partnership with its clients which they call the WE Experience. What separates them from legacy industry incumbents is the modern technology feel coupled with industry best product performance. Customers cite WE's processing engine as a key differentiator. It has reduced running the hundreds of thousands to millions of month-end transactions to a matter of seconds versus the 20+ hours it takes the competition. Clients can analyze the output in real time and make changes as opposed to spending hours on post-closing adjustments. This is one of many ways the WE Experience is changing the face of the industry.
About M33 Growth
M33 Growth is a venture and growth stage investment firm that partners with founders and CEOs who have successfully bootstrapped their companies to strong growth and are positioned to rapidly scale their companies and break through as market leaders. With deep experience fueling sales and marketing engines, driving acquisitions and building value through data assets, M33 Growth seeks to propel portfolio companies to success in their markets. Founded by veterans of renowned investment firms with considerable operational experience, the Boston-based firm seeks to invest in companies in the software, healthcare and services sectors throughout North America. Learn more at m33growth.com
About Waterfield Energy
Waterfield Energy is the new standard in oil and gas accounting software. The company's cloud-based or on-premises fully-integrated software suite provides the best end-to-end solution on the market. Faster setup, performance, reporting and streamlined upgrades leaves its clients more time for analyzing data and running their businesses. Combine this with client-focused technology advancements, known and transparent costs, and highly-qualified customer support members, and the WE Experience consistently exceeds expectations while setting performance benchmarks for the industry. Learn more at waterfieldenergysoftware.com.
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SOURCE Waterfield Energy
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