[Context: On October 22, SCF Ventures announced an equity investment in Ruths Analytics and Innovation, a developer of oil and gas analytics software. Further details and related links are below.]
SCF Ventures Announces Growth Investment in Ruths.ai; SCF Ventures leads an investment round of growth equity into Ruths.ai, a software suite enabling analytics and data science across the oil and gas value chain.
HOUSTON–October 22, 2018–(BUSINESS WIRE)–SCF Ventures is proud to announce a growth equity investment in Ruths Analytics and Innovation (“Ruths.ai”). In an effort to increase service efficiency and well productivity, oil and gas operators are collecting more data than ever before. Ruths.ai allows industry users to visualize and learn from disparate data sources using a powerful combination of analytics and industry expertise.
After earning a Computer Science Ph.D. from Rice University, Dr. Troy Ruths founded Ruths.ai in 2013. Since that time, the company has expanded across the United States and Canada: analyzing reserves, drilling, completions, and production data. “With this investment, we will be able to accelerate the deployment of Petro.ai, a seamless combination of big data, data science, and chat into one cohesive interface,” reports Dr. Ruths.
Managing Director Hossam Elbadawy affirms: “The digital oilfield, empowered by analytics, is the fastest growing part of our industry; we have been looking carefully at this space as it has developed. We are pleased to partner with the Ruths.ai team because of their talent, track record, and vision for the next generation of oil and gas SaaS.”
SCF Ventures is an early stage investment vehicle within SCF Partners, focused on new products and technologies in the energy service sector. SCF Ventures provides differentiated capital to young oilfield service companies.
SCF Partners, headquartered in Houston, Texas, with offices also in Aberdeen, Singapore, and Calgary, is a private equity firm focused solely on building energy services, equipment, and technology companies. SCF has completed more than 400 energy services investments and helped build 17 public companies in its nearly 30-year history. SCF partners with operational management and assists with additional growth through acquisitions and geographic expansion initiatives to build leading companies across the globe. Current investments from active funds include Nine Energy Service (NYSE: NINE), Select Energy Services (NYSE: WTTR), Forum Energy Technologies (NYSE: FET), NESR (NASDAQ: NESR), Centurion Group, as well as a group of others.