Ruths Analytics and Innovation, a Houston, TX-based provider of a software suite enabling analytics and data science across the oil and gas value chain, received a growth equity investment from SCF Ventures.
The amount of the deal was not disclosed.
Ruths.ai allows industry users to visualize and learn from disparate data sources using a combination of analytics and industry expertise.
The company intends to use the funds to accelerate the deployment of Petro.ai, a combination of big data, data science, and chat into one cohesive interface.
Founded by Dr. Troy Ruths in 2013, Ruths.ai provides oil and gas operators with the following tools:
– DO Rockteller, a reporting and analytics platform for drilling optimization.
– DCA Wrangler, which allows users to focus onbusiness rather than churning through declines.
– CI Bandit, which enables users to rapidly evaluate completion performance, identify key inputs such as well spacing and geoparameters, and accurately predict EUR with multivariate models.
– OPS Ranger, an end-to-end solution for production and operations monitoring with real-time data.
SCF Ventures is an early stage investment vehicle within SCF Partners, focused on new products and technologies in the energy service sector. SCF Ventures provides differentiated capital to young oilfield service companies.