Well Data Labs, a Denver, CO-based digital transformation company focused on the oil and gas industry, raised an undisclosed Series B funding.
The round was led by Cottonwood Venture Partners (CVP) with participation from current investors.
The company intends to use the funds to continue growing its team and expand core product capabilities, along with bolt on products such as real-time data feeds and machine learning models.
Founded in 2014 and led by Josh Churlik, CEO, Well Data Labs offers a web application that gives operators the tools to manage, analyze, and report on their internal frac data.
The company’s platform standardizes the delivery of time-series and field-created frac data directly to an operator’s operational engineers and IT systems in real-time.
Well Data Labs’ system enables instant graphing, analysis and comparison of stage data, while simultaneously structuring and organizing the data to be integrated with other internal systems throughout an organization.