NEOS GeoSolutions, Inc., a Houston, TX-based provider of exploration solutions to clients in the onshore oil & gas and mining industries, has closed on a $60m financing round.
Investors include new backers Energy Capital Group and Bill Gates, as well as existing shareholders Goldman Sachs, Kleiner Perkins Caufield & Byers, and Passport Capital.
NEOS intends to use the capital to advance its technology development program, extend data acquisition and data processing capacity, add functionality to the NeoSphere™ data integration and interpretation system and expand its engineering, sales, marketing, field operations, and customer service teams around the world.
Led by Jim Hollis, President and CEO, and Michael Long, Executive Chairman, the company helps exploration teams in the onshore oil & gas and mining industries make more informed decisions about where to explore, lease and drill. In partnership with its clients, NEOS acquires and interprets multiple geological, geophysical, and geochemical datasets to identify hydrocarbons and minerals in the subsurface.
The company has technology Centers in Pleasanton, CA, Newport Beach, CA, Lakewood, CO, and an operations center in Buenos Aires, Argentina.