WellAware provides remote monitoring and management services for oil wells, pipelines, and refining and chemical facilities, using partner On Ramp Wireless for remote monitoring and control. The company tracks oilfield production data and recently launched a service to optimize and manage chemical usage on production sites. WellAware says customers have saved about 15% on operational costs and reduced downtime by 30% using its technology. Despite the collapse in oil prices, leadership reports the business is doing well and sees continued demand as operators strive to run more efficiently. The company monitors a fraction of the roughly 1 million U.S. oil and gas wells and plans to double down on expansion in the U.S. and abroad. Prior financings total $45 million from investors including Activant Capital Group and energy-industry figures. WellAware is a San Antonio, Texas–based company that provides an end-to-end remote monitoring and predictive analytics platform for oilfield intelligence. Led by co‑founder and CEO Matt Harrison, the company offers a cloud-based platform for oilfield data collection, storage, visualization, mobility and predictive analytics. It strategically deploys automation equipment and operates data-driven networks across key shale basins that feed data to its software platform. The solution consolidates field data and delivers predictive insights to operators. WellAware secured an additional $37m of growth equity to further expand its solution. Investors in the round included Activant Capital Group, Carlos Slim, strategic investors and board members Ed Whitacre Jr. and Dick Cheney. WellAware develops proprietary software and a unique RPMA physical network that enable 24/7 real-time monitoring and intuitive two-way control of wells, pipelines, assets and equipment from mobile and desktop devices. The company’s Eagle‑Ford RPMA network claims >99% reliability, strong tolerance to interference, and elevated network and software security versus cellular, mesh/900 MHz and satellite alternatives. WellAware’s platform is positioned to reduce costs, improve data reliability and security, prevent theft, optimize field personnel, lower capital and operating expenditures, and enable faster adjustments to production strategies. Welder Exploration & Production was WellAware’s first strategic customer and assisted during early network deployment, software development and ROI modeling; Welder reported financial benefits and improved production efficiencies. The company was incorporated in 2012 and is based in San Antonio, Texas; its leadership includes CEO and co‑founder Matt Harrison and a board with members from legal, oilfield services and mobile software backgrounds. Based on customer response, WellAware is building a similar network to cover the Permian Basin and plans to add other U.S. and Canadian shale plays.

Total raised

$53M

Funding rounds

3

Latest round

Series B

Latest activity

Sep 2015