Cottonwood Venture Partners Leads Investment to Accelerate Growth and Product Development
DENVER, Sept. 5, 2019 /CNW/ -- Engage Mobilize, a cloud-based digital field management, procurement, and electronic ticketing platform built for the oil and gas industry, has announced a Series A financing round led by Cottonwood Venture Partners (CVP). The funding will allow Engage to add to its Denver-based team to enhance its current platform and accelerate new product development, including advanced-analytics features, for its customers.
Engage's industry-leading platform serves as a single solution for operators to manage supply chain operations including logistics and electronic ticketing. Engage delivers unprecedented transparency and data that oil and gas operators have never had access to before – driving accountability and efficiency across field operations. Data collected through Engage's platform serves as the foundation for companies to deploy advanced technologies such as dynamic smart contracts and real-time logistics optimization.
"We are not the first to identify the massive waste of time and money in the oilfield; rather, we are the first to build a platform that both sides of the transaction can identify with. We built Engage with the goal of reducing field expenses and capital spend by increasing transparency and accountability," said Co-Founder and CEO, Rob Ratchinsky. "We are truly changing the way operators interact with their service providers."
The Engage platform digitally mirrors existing workflows to deliver data driven solutions and field-level transparency that allow operators to improve decision-making. Engage customers have realized a dramatic reduction in costs and increased productivity, while saving precious time in the field.
Engage is the latest company to join CVP's portfolio of industry leading energy technology solutions. "With the oil and gas industry transitioning to a manufacturing business model, efficient field-wide logistics and procurement is becoming increasingly important. The Engage solution is tailor-made to drive efficient, transparent, and safe field operations – we are very pleased to partner with the Engage team," said Ryan Gurney, Managing Partner at CVP.
About Engage: Engage is a cloud-based digital field management platform that is revolutionizing the way oil and gas companies interact with their service providers. Their comprehensive solution interfaces with both operators and vendors, allowing transparency on all sides. Engage is the industry preferred solution for digitizing oilfield activity spanning across over one hundred service types. For more information, please visit http://engagemobilize.com.
About Cottonwood Venture Partners: Cottonwood Venture Partners ("CVP") is an investment firm partnering with technology companies that provide digital solutions for the energy industry. CVP invests in technology companies that have achieved early customer adoption and require capital to accelerate growth. CVP leverages its expertise and relationships in energy and technology to help drive growth at its portfolio companies. For more information, please visit http://cottonwoodvp.com.