RigUp is a technology company that's building a platform to better support the energy workforce.
RigUp's marketplace is improving the lives of contractors and helping service providers and operators find people who will get the job done.
RigUp was founded in 2014 by Xuan Yong & Mike Witte and is based in Austin, Texas.
RigUp's goal is to make an environment where any and all people feel welcome, respected, and free to be their authentic selves. It welcomes applicants of all gender identities, sexual orientation, educational background, religion, ethnicities, veteran status, and citizenships.
RigUp is building the energy industry’s largest marketplace, connecting independent contractors with work and matching service providers and operators with the workforce that will get the job done.
RigUp estimates that they save operators 25% on variable labor costs and help them scale labor resources up to 3x faster. Engineers and project managers working for large services companies or E&P companies use the technology to hire quickly, track contractor compliance, and minimize administrative work. RigUp is solving interesting process problems in a part of the energy industry that hasn't always been quick to adopt new technology. The platform has quickly gained traction in the market.
RigUp is backed by prominent investors including Andreessen Horowitz, Founders Fund, Quantum Energy Partners, Global Reserve Group, and Bedrock Capital among others. The company raised $300M from a "Series D" funding on Oct 09, 2019. The latest round brings RigUp's total funding to $423.8M to-date.
RigUp pushed its valuation to $1.9B during it's Series D round on Oct 9, 2019.