LiquidFrameworks / Case Study
Several companies had previously entered the market to provide electronic field ticketing for upstream oil and gas. This was an area rife with economic potential yet no one showed significant commercial success — until LiquidFrameworks.
At the time of our investment, we recruited a new Head of Sales who knew complex selling and the technical landscape of the target market. We also introduced a CEO candidate with extensive experience running product companies in the target market. The founder recognized that we were well aligned regarding the benefits of re-platforming the product and recruiting critical management resources.
LiquidFrameworks has some of the largest oilfield service companies in the world as enterprise customers.
2012 Initial investment
2013 Product re-platformed
2014 Shift to upmarket customers
2018 Becomes market leader
2018 Acquired by Luminate Capital
Geoforce is the largest non-powered device network in the world.
2012 Initial investment
2016 Positioned as data company
2018 Geoforce becomes the largest
non-powered device network in
2019 Sold in December to LLR Partners
geoforce / Case Study
The cyclicality of the upstream sector can lead to chaos as operators and service companies rapidly scale up and down. Managing the status of equipment without its own power source presents a special technical challenge. Geoforce contains the chaos with purpose-built technology for the specific challenges of the upstream sector.
The knowledge required to globally deploy support operations for satellite-based communications for upstream oil and gas requires a substantial depth of regulatory understanding and appreciation for how customers want to buy. Houston Ventures brought relevant experience from its history with RigNet, Inc., one of the largest dedicated data networking companies focused on the upstream sector. HV also recruited IBM's Head of Design, Phil Gilbert, to sit on the Geoforce Board of Directors.
OSPREYDATA / Case Study
OspreyData built an expert-augmented machine learning software platform which integrates production data streams to enable more agile engineering, operations, and management activities. Producers using the platform can operate their wells with fewer surprises, lower cost, and higher production.
The value proposition of any new technology by itself is insufficient to overcome the adoption barriers within enterprise oil and gas buyers. Houston Ventures recruited new leadership from within the industry, who is experienced delivering complex software in a way the market is comfortable consuming.
OspreyData’s AI models are built with input from industry leading SMEs and over 500k training events.
2017 Initial Investment
2018 Recruited new CEO
Tracts is a computational engine for determining ownership of oil and gas rights. It is the first and only title management platform that uses auto-calculation to instantly solve complex ownership and distribute dynamic data across your organization, significantly mitigating asset risk.
Zilliant is the partner of choice for global B2B enterprises seeking to drive top-line growth and profit margins with AI-based technology.
acquired by MADISON DEARBORN DECEMBER 2021
Indx Software develops and markets operational intelligence software applications for use primarily in the refining and petrochemical industries.
acquired by siemens
RigNet provides IT networks for drilling rigs and offshore vessels, including those in the harsh environment of the North Sea. RigNet solutions significantly reduce costs and simplify operations, integrating voice, fax, video and data to customers’ networks and the Internet.
Syntex provides software that helps customers manage and analyze employee health and safety programs. Its customers include ExxonMobil, Valero, Unocal, Shell E&P and others.
acquired by IHS
Wayport was the world’s largest provider of high-speed Wi-Fi (802.11b) wireless and wired Internet access in hotels, airports and retail spaces, including McDonald’s nationwide.
acquired by AT&T
Founded in 1999, Lombardi was a leading provider of business process management (BPM) software and services for Global 2000 organizations. Lombardi had both the BPM software and implementation best practices to help companies transform into high-performance, process-centric organizations.
acquired by IBM
OspreyData is a software company providing artificial intelligence to aid oil and gas producers in maximizing uptime of their critical artificial lift assets. OspreyData is a Houston Ventures IV portfolio company.
Kahuna Workforce Solutions, based in Houston, Texas (“Kahuna” or the “Company”) developed a software product helps corporations track and manage the competencies and proficiencies of their labor pools. The Company’s system provides field operations teams, managers, and human resources (“HR”) departments a coordinated, repeatable and scalable methodology for measuring and planning how to fill competency gaps and otherwise serve market service demands.
SecurityGate develops and markets software that helps users provide cybersecurity assessments related to industrial controls systems. Cybersecurity assessments are inquiries performed to determine a company’s state of readiness to repel or manage a cyber attack. They include checks for vulnerabilities in IT systems and business processes, as well as recommending steps to lower the risk of future attacks. Most cybersecurity attacks succeed as a result of human error and SecurityGate’s system continually polls workers to determine whether the likelihood of human error is increasing or decreasing. SecurityGate resides at the intersection of operations and IT, which offers opportunities to extend the product both up and down the organization and externally into the customer’s supply chain.