|[January 15, 2014]
EquityMetrix Receives $5 Million Growth Investment from Peterson Partners
DALLAS --(Business Wire)--
EquityMetrix LLC, a technology-enabled service provider of big data
solutions to land data management issues in the oil and gas industry,
today announced a $5 million growth investment from Peterson Partners.
The funding will accelerate the development of new services to help
manage oil and gas operating companies, mineral interest owners and
energy investors identify revenue underpayments and misallocations.
"Peterson Partners' deep experience in growth equity investments makes
them the perfect strategic partner for us," said Tom Agnew, CEO and
founder of EquityMetrix. "On average, we recover 1 percent of total
revenue, which has unlocked tens of millions of dollars in unclaimed
revenue for our clients. With this capital infusion, we look forward to
accelerating our growth and introducing new services that deliver
significant value for our customers."
As the leading expert in revenue recovery, land data management and land
data assurance, EquityMetrix's cloud-based software combines image
processing, machine learning, spatial processing and data mining t
analyze and organize Exploration & Production (E&P) records. In addition
to uncovering missing data and tracking down lost records, the
proprietary technology detects anomalies - such as poorly documented or
incorrectly mapped assets, or agreement terms that are out of compliance
- to pursue lost and underpaid revenues.
"Because many oil and gas companies do not have the technology to
adequately manage their non-operating revenues, EquityMetrix solves a
real pain point in this sector," said Matthew Day, principal at Peterson
Partners. "We are confident that EquityMetrix's marquee client base and
patented technology platform provide a competitive advantage that
positions the company for a high trajectory of growth and success going
Since inception, EquityMetrix has organized millions of documents on
more than 50,000 wells, and reconciled tens of thousands of leases,
deeds and contracts for its clients.
EquityMetrix is the leading expert in revenue recovery, land data
management, and land data assurance. The company has developed
proprietary technology to detect anomalies and look for missing data. At
the center of EquityMetrix's work is a cloud-based data warehouse that
combines image processing, machine learning, spatial processing and data
mining. For more information, visit http://www.equitymetrix.com/
About Peterson Partners
Peterson Partners, based in Salt Lake City, Utah, is one of the
Intermountain West's most successful private equity firms. Specializing
in small to mid-sized companies, Peterson Partners has a track record of
successful investments including JetBlue, Vivint, EnergySolutions,
3form, Access CIG and Diamond Rental. Founded in 1995, Peterson Partners
has managed over $500 million in committed capital through eight funds.
For more information, visit www.petersonpartnerslp.com.
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