Validere, a Calgary and Toronto, Canada- and Houston, TX-based informatics platform that enables energy companies to realize efficiencies through real-time product quality insights, raised US $15m USD ($20,551,275 CAN) in Series A funding.
The round was led by Wing VC, with participation from Greylock Partners and Sallyport Investments.
The company will use the funding to scale in its U.S. market, expand its team, and grow its technological capabilities across the oil and gas ecosystem.
Founded by Harvard graduate and scientist Dr. Ian Burgess and entrepreneur Nouman Ahmad, Validere empowers oil & gas organizations to know product quality through real-time IoT data and optimize logistics and trading with predictive AI insights. Its software is now monitoring and optimizing over 3 million barrels per day for leading oil and gas companies in Canada and the U.S.