Big data startup EquityMetrix has taken $5 million in growth investment from Peterson Partners, a Salt Lake City-based private equity firm.
The company, which provides land data management services to the oil and gas industry, tells us via email that the cash will be used to roll out new services for pinpointing revenue problems.
[aditude-amp id="flyingcarpet" targeting='{"env":"staging","page_type":"article","post_id":882433,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"entrepreneur,","session":"D"}']“On average, we recover 1 percent of total revenue, which has unlocked tens of millions of dollars in unclaimed revenue for our clients,” said Tom Agnew, CEO and founder of EquityMetrix, in a statement on the news.
“With this capital infusion, we look forward to accelerating our growth and introducing new services that deliver significant value for our customers.”
AI Weekly
The must-read newsletter for AI and Big Data industry written by Khari Johnson, Kyle Wiggers, and Seth Colaner.
Included with VentureBeat Insider and VentureBeat VIP memberships.
EquityMetrix is based in Dallas, Tex., and was founded in 2003.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn More