Quantum Energy Partners and Global Reserve Group Lead $15.8 Million Funding to Support Next Phase of

AUSTIN, Texas, Feb. 5, 2018 /PRNewswire/ -- RigUp, the energy industry's predominant marketplace for on-demand services and labor, has raised a $15.8 million Series B round, including follow-on participation from Founders Fund and existing investors. The company has also secured a $30mn credit facility from Silicon Valley Bank to support its growing revenue stream. RigUp intends to use the capital raised in the equity financing to strengthen its product with enhanced mobile features and streamlined payment solutions and to continue to build the product and sales teams.

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