OspreyDataÔÇÖs AI-Based Optimization Platform for Oil & Gas Raises $5M in Series A Funding Led by Houston Ventures

Leading Energy VC firm Houston Ventures and others invest in
OspreyDataÔÇÖs Expert-Augmented Data Analytics platform for Oil and Gas

SAN JUAN CAPISTRANO, Calif.–(BUSINESS WIRE)–#digitaloilfield—OspreyData
announced a $5 million Series A growth financing led by Houston
Ventures with participation from existing shareholders. ÔÇ£This
investment will help support our technology leadership position and the
further adoption of our unique Expert-Augmented Machine Learning
methodology and platform. We will continue to grow the sales and
services teams to meet the needs of our global Oil & Gas customers,ÔÇØ
commented OspreyData CEO John Burke.

Fred Lummis, Junior Partner at Houston Ventures, said OspreyData was a
perfect fit for their fourth fund that targets inefficiencies in Oil &
Gas operations. He states, ÔÇ£OspreyDataÔÇÖs hardware-agnostic analytics
platform has the ability to deliver massive ROI by leveraging existing
production asset data streams to transition operators to an active
monitoring program that reduces asset downtime and optimizes well
performance. The enthusiastic response from early customers signals a
positive shift in the industryÔÇÖs willingness to adopt Machine
Learning-powered analytics solutions that augment the performance of
their human and machine assets.ÔÇØ

OspreyDataÔÇÖs core value proposition is maximizing uptime of critical
Artificial Lift assets by bringing engineers and operators early
detection of key problem states. OspreyData has leveraged the knowledge
of leading Oil & Gas industry experts, positioning them alongside Data
Scientists to create powerful models capable of predicting problem
states with real-time data. OspreyData works with clients in stages,
helping them evolve into data-driven producers without requiring
proprietary hardware or exorbitant capex investments.

For more information on OspreyData and to request a demo of the
OspreyData platform, please visit www.ospreydata.com.

About OspreyData

OspreyData is the first software platform to bring Expert-Augmented
Machine Learning to the E&P space within Oil & Gas. OspreyDataÔÇÖs
predictive models identify the problem states that lead to downtime and
sub-optimal production, allowing operators to take early action to
prevent failure and increase production and revenues. OspreyData is
privately funded and based in Orange County, CA and Houston, TX. For
more information, visit www.ospreydata.com.

About Houston Ventures

Houston Ventures is a venture capital firm focused on technology
solutions for the global Oil & Gas industry. For more information, visit www.houven.com.

Contacts

OspreyData
Scott Brown
VP of Business Development
(214)
808-5711
[email protected]