TRUCKEE, Calif., July 18, 2016 /PRNewswire/ -- BetaZi has opened the door to its first external investor with the recent initial tranche of funding from businessman and entrepreneur Mark Cuban, through his VC entity Radical Investments. Cuban's substantial business presence brings tremendous market opportunity to the early-stage data science company, which is quietly revolutionizing how independent assessment of oil & gas assets is done. The potential impact of BetaZi's unmatched accuracy on risk evaluation and investment decision-making was immediately clear to Cuban, who had this to say:
"BetaZi is the definition of disruptive innovation for oil and gas production forecasting. Its new model has physics, big data statistics, and machine learning combined for the first time to automatically produce the most accurate forecasts available, and that's why I've invested in them. It's a step change in the standards of analysis for oil and gas wells by E&P companies and Wall Street firms. Look for some incredible products to come out of this company—and soon."
BetaZi CEO Janette Conradson reached out to Mark Cuban directly when her company decided to take on outside investment in order to speed product development and market penetration. BetaZi has already made significant inroads into the finance, insurance, production, banking, and engineering sectors of the oil & gas industry, as well as successfully petitioning to provide services to federal agencies. With client demand and brand recognition growing and major new products set to launch Q4 of this year, Conradson said:
"Mark's promotion of the company comes at an exciting time for us. We welcome the buzz generated by his involvement as enthusiastically as we do his investment capital. Let's face it: Mark Cuban is a big deal. The value-add of having him on our team isn't lost on us."
BetaZi™ provides state-of-the-art production oil and gas forecasting solutions based on Physics-Based™ Predictive Analytics. BetaZi™ solutions give industry stakeholders meaningful, actionable intelligence with testable results. Since 2012, they have modeled over a million wells with cutting-edge technology and provided accurate and insightful production forecasts to decision-makers from the field to the board room. For more information, visit their website at www.betazi.com.
Radical Investments LP is a Mark Cuban VC investment entity that does seed and early stage venture funding. Mark Cuban is the owner of the Dallas Mavericks, Landmark Theaters, Magnolia Pictures, and the chairman of AXS TV. He is also a 'shark' investor on Shark Tank.
Media Contact: Janette Conradson, BetaZi LLC, (530) 587-3858, [email protected]
SOURCE BetaZi LLC