RigUp unearths $60m in series C funding

Jan 31, 2019 • Jack Hammond

The General Electric-backed oilfield services marketplace operator has reportedly increased its valuation to $300m following a round led by Founders Fund.

RigUp, a US-based oilfield services marketplace operator backed by industrial equipment manufacturer General Electric (GE), collected $60m on Tuesday in a series C round led by venture capital firm Founders Fund.

The round also featured private equity firm Quantum Energy Partners, VC firm Bedrock Capital and advisory and investment firm Global Reserve Group, valuing RigUp at $300m according to Axios.

Founded in 2014, RigUp has created a mobile app that enables oilfield operators and service providers to find and connect…

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