Workrise (formerly RigUp) operates an online workforce-management marketplace that matches skilled laborers with infrastructure and energy companies. Its platform connects workers with over 500 companies, handles payroll and benefits, and provides access to training. The business has expanded beyond oil and gas into wind, solar, commercial construction, and defense. Workrise serves more than 70 U.S. metro areas and has over 600 employees across 25 offices. Financially, gross revenue tripled from just under $300M in 2018 to about $900M to close out 2020, and the company placed 15,000 workers in 2020. The company plans to use new capital to continue expanding into new markets, particularly renewable energy and infrastructure roles. RigUp operates a marketplace that connects contract field workers with energy companies to source and manage skilled trade labor. The platform gives workers access to a large network of energy companies, flexible payment terms, and streamlined access to partners that provide healthcare benefits and training. It serves upstream, renewables, midstream, and downstream segments across the energy industry. The company has more than 300 employees across the United States and in 2019 expected to exceed $2 billion in gross service volume on its platform, more than a 200% increase from 2018. RigUp plans to use new capital to expand into renewable energy, midstream oil and gas, and downstream operations and to hire at its Austin headquarters and Denver office. Founded in 2014 by CEO Xuan Yong and COO Mike Witte, the company is based in Austin, Texas. RigUp operates a marketplace app that connects pre-qualified contract oilfield workers with services companies and E&P operators, enabling workers to find jobs and employers to hire quickly. The platform helps engineers and project managers track contractor compliance and reduce administrative work. Led by CEO and co-founder Xuan Yong, the company focuses on on-demand services and labor for the energy industry. RigUp is based in Austin, Texas. The company said it will use the funds to continue to expand operations. The article does not disclose revenue or user metrics. RigUp operates a digital oilfield services marketplace that lets buyers and service providers connect and transact across a full range of oilfield services. The company leverages proprietary software to streamline transactions and enable scale on demand. RigUp provides buyers across the United States access to more than 22,000 service providers across 100+ service categories. It plans to use new capital to strengthen its product with enhanced mobile features and streamlined payment solutions and to continue building its product and sales teams. Financially, RigUp completed a $15.8M Series B and has secured a $30M credit facility from Silicon Valley Bank. The company is led by CEO and co-founder Xuan Yong. RigUp is a bidding, compliance, and invoicing platform that connects operators and service companies for efficient and safe operations. The platform facilitates bidding, compliance management, and invoicing to streamline interactions between operators and service companies. RigUp closed a $15 million Series A, following a $3 million seed round in summer 2014. The new Series A funding came mostly from existing investors Founders Fund, Box Group, and Great Oaks. New backers in the round included FreeS VC, Moore Capital, and GE Ventures.

Total raised

$721M

Funding rounds

6

Latest round

Series E

Latest activity

May 2021