Friday, November 16, 2018

Well Data Labs Raises $3M

Denver-based Well Data Labs, which develops software for the oil and gas industry, said on Thursday that it has raised a Series B funding round. The round was led by Cottonwood Venture Partners (CVP), as well as the company's current investors. The funding was worth $3M. According to Well Data Labs, it will use the funding to grow its team and expand its core product capabilities. Well Data Labs is led by co-founder and CEO Josh Churlik. The company said it provides a real-time "frac data service" which is used by over 15 percent of frac jobs in the U.S.