Tachyus, a Houston, TX-based provider of data-driven production optimization software to the oil and gas industry, closed a $15m Series B funding round.
The round was led by Cottonwood Venture Partners.
The company intends to use the funds to reach customers and accelerate the delivery of new technology that improves our clients’ business performance.
Founded in 2014 by CEO and co-founder Paul Orland, Tachyus is an innovative, data-driven technology company serving oil and gas operators. The SaaS platform allows reservoir and production engineers to use historical production data to build predictive models of flow in a producing field. Operators then optimize the production parameters to maximize economic outcomes such as Net-Present-Value or minimize operating costs.
The company has customers in Argentina, Europe, and Asia.