Data Gumbo is a smart contract solution provider that leverages distributed ledger technology and real‑time IIoT sensor data to trigger confirmation and payment automation. The company launched a Smart Contract Marketplace housing over forty smart contract templates ready for deployment. Its smart contract network has grown to more than 180 enterprise participants. By automating invoice validation and contractual confirmations, Data Gumbo aims to streamline back‑office processes, improve cash flow certainty, and reduce transactional friction. Although it started in the energy sector, the company already sees applicability in bulk commodity haulage, trucking, and shipping and plans to expand into other global industries. The company recently closed a $4M Series C equity round to support that expansion and continued adoption. Data Gumbo provides GumboNet, an industrial smart contract network that automates and executes contracts with integrated real-time capabilities to reduce contract leakage and enable real-time cash and financial management. The platform delivers provenance, speed, accuracy, visibility and transparency across commercial relationships. The company also offers GumboNet ESG, an automated sustainability measurement solution that ties operational data to ESG standards reporting for industrial supply chains. Data Gumbo plans to scale its network to meet demand for GumboNet and GumboNet ESG and to establish a presence in the Middle East. The company more than doubled in size in 2020, expanded its executive team, built a customer pipeline and added strategic partnerships into new industries. Total funding to date is $18.4 million after closing the Series B. Data Gumbo provides GumboNet™, a massively interconnected industrial blockchain network that powers, automates and executes smart contracts to reduce contract leakage and improve cash and financial management. The network targets oil & gas and adjacent asset-heavy industries including construction, mining and manufacturing, and it delivers provenance and transactional certainty. The company plans to use new capital to mature GumboNet, support global expansion, and make key hires to meet growing demand and sales pipeline growth. Data Gumbo reported a first close of its Series B and has raised $14.8 million in funding to date. The company is headquartered in Houston and maintains a subsidiary office in Stavanger, Norway. Data Gumbo offers a Blockchain-as-a-Service (BaaS) platform that creates a massively interconnected blockchain network for industrial companies, including oil and gas, to reduce disputes over payments, filings and audits. Its platform facilitates automated calculation, reconciliation and payment of invoice line items in near real time with full transparency. The company is led by CEO Andrew Bruce and operates from a Houston headquarters with an office in Stavanger, Norway. Data Gumbo positions its product to eliminate differences in interpretation of data that cause delays and disputes in industrial commercial transactions. The firm intends to use new capital to expand its commercial blockchain network and to grow technical, sales and marketing teams at its Houston and Stavanger offices. Financially, the company completed a $6M Series A equity round, bringing total funding to $9.3M.

Total raised

$22M

Funding rounds

4

Latest round

Series C

Latest activity

Aug 2022