MineralSoft, an Austin, Texas-based software company focused on developing solutions to manage oil & gas investments, raised $4M in Series A funding.
The round was led by Cottonwood Venture Partners, with participation from earlier investors Blue Bear Capital, an energy technology fund, and Y Combinator, the Silicon Valley seed investor.
The company intends to use the funds to accelerate development of its core software platform and expand its marketing and sales efforts.
Followed the signing of an exclusive partnership with oil and gas data provider DrillingInfo, and comes amid rapid growth for MineralSoft’s software platform, which helps mineral, royalty, and non-operated working interest owners and investors manage their assets.
The announcement was made today at the North American Prospect Expo Summit in Houston, the industry’s largest event for the buying and selling of oil & gas assets, where MineralSoft is exhibiting.
Led by Gabe Wilcox, CEO, MineralSoft provides a cloud-based software platform that includes portfolio management and analytics tools to serve the needs of oil & gas investors, to manage large portfolios, track payback and ROI, audit revenue and expenses, and verify income.
The platform also provides an exclusive integration with DrillingInfo’s data source for public oil & gas information, giving investors access to production volumes, permits, and rig activity within MineralSoft’s platform.