RigUp Company Profile

Overview

RigUp is a developer of workforce and vendor management software designed to streamline sourcing, onboarding, and payment processes in the energy industry. The platform connects contractors and suppliers with operators, automates recruitment, compliance, invoicing, and payments, provides tools for bid management and workforce coordination, and integrates data visibility across field and corporate operations. This enables energy companies and service providers to manage labor and supply chain activities more efficiently and reduce operational complexity.

• ​Year Founded: 2014
• ​Status: Private
• ​Employees: 824
• ​Latest Deal Type: Later Stage VC
• ​Investors: 30
• ​Formerly Known As: Workrise
• ​Ownership Status: Privately Held (backing)
• ​Financing Status: Venture Capital-Backed
• ​Primary Industry: Human Capital Services
• ​Other Industries: Application Software, Other Energy Services, Business/Productivity Software
• ​Verticals: HR Tech, SaaS, Mobile
• ​Corporate Office:
  • ​111 Congress Avenue, Suite 1300, Austin, TX 78701, United States

Valuation & Funding

• ​Total Funding Raised: $818M
• ​Notable Funding Rounds:
  • ​Early Stage VC (Series B1): $10M (20-Jun-2018), Raised to Date: $73.8M
  • ​Early Stage VC (Series B): $45.8M (05-Jan-2018), Raised to Date: $63.8M

Cap Table (Selected)

• ​Series A: 650,636 shares, Par Value: $0.000100, Dividend Rate: 8%, Original Issue Price: $22.34, Liquidation Pref. Multiple: 1x, Conversion Price: $22.34, % Owned: 9.4%
• ​Seed: 508,799 shares, Par Value: $0.000100, Dividend Rate: 8%, Original Issue Price: $5.48, Liquidation Pref. Multiple: 1x, Conversion Price: $5.48, % Owned: 7.35%

Patent Activity

• ​Total Patents: 2 (Granted)
• ​Recent Patents:
  • ​US-D846588-S1: Computer display screen with transitional graphical user interface (Active, filed 24-Oct-2017)
  • ​US-D849031-S1: Display screen or portion thereof with energy industry dashboard graphical user interface (Active, filed 24-Oct-2017)

Acquisitions

• ​Codeco-Vanoco Engineering: Merger/Acquisition (17-Sep-2024), Industry: Energy Marketing
• ​Shipyard Staffing: Merger/Acquisition (20-Jan-2020), Industry: Human Capital Services
• ​Ally Consulting: Merger/Acquisition (30-Apr-2019), Industry: Human Capital Services
• ​Harvest Energy Services: Merger/Acquisition, Industry: Energy Infrastructure

Affiliates (Subsidiaries)

• ​Rusco Operating: Austin, TX (Founded 2016)
• ​Rudtuk Operating: Austin, TX (Founded 2016)
• ​Codeco-Vanoco Engineering: Calgary, Canada (Founded 2008)

Investors (Selected)

• ​Big Loud Capital (Venture Capital)
• ​Bow River Capital (PE/Buyout)
• ​Collective Asset Management (Secondary Buyer)
• ​Blue Opal Capital (Venture Capital)
• ​Breyer Capital (Venture Capital)

Competitors (Selected)

• ​Metron (Venture Capital-Backed, Paris, France)
• ​Paycor (Formerly PE-Backed, Cincinnati, OH)
• ​PeopleFluent (Formerly PE-Backed, Raleigh, NC)
• ​Petrosys (Corporate Backed or Acquired, Adelaide, Australia)
• ​Generac Grid Services (Formerly VC-backed, Denver, CO)

FAQs

When was RigUp founded?

RigUp was founded in 2014.

Where is RigUp headquartered?

RigUp is headquartered in Austin, TX.

What is the size of RigUp?

RigUp has 824 total employees.

What industry is RigUp in?

RigUp’s primary industry is Human Capital Services.

Is RigUp a private or public company?

RigUp is a Private company.

What is RigUp’s current revenue?

The current revenue for RigUp is not disclosed.

How much funding has RigUp raised over time?

RigUp has raised $818M.

Who are RigUp’s investors?

Big Loud Capital, Bow River Capital, Collective Asset Management, Blue Opal Capital, and Breyer Capital are among the 30 investors who have invested in RigUp.

Who are RigUp’s competitors?

Metron, Paycor, PeopleFluent, Petrosys, and Generac Grid Services are some of the 21 competitors of RigUp.