Welligence Energy Analytics Announces $41 Million Minority Growth Equity Investment

HOUSTON, Jan. 23, 2024 /PRNewswire/ -- Welligence Energy Analytics, a market leading energy data & intelligence firm specializing in global oil and gas markets, greenhouse gas emissions, and projects related to carbon capture storage and utilization (CCUS), has raised $41 million in growth capital. The investment, which represents a minority stake in the company, was led by Elephant with participation from Veriten, EDG Group, and several high-profile executives from the energy, information services, and enterprise software industries.

Commenting on the funding, Welligence CEO Ross Lubetkin said, "Our team is proud of the growth we've achieved over the last six years. The foundation of Welligence has now been built. We have a world-class team, a robust database and platform, and a brand recognized globally in our industry. Raising significant capital from some of the market's most sophisticated investors with a proven track record is a pivotal step towards realizing the Welligence vision — to solidify our presence as a leading global energy research house."

Welligence will use the capital to further enhance its current products and geographical data coverage and expand into new energy research verticals. The company currently has employees and clients across Africa, Asia, Europe, Latin America, the Middle East, and North America, with plans to open offices in several new countries to complement its current operations.

"We have been extremely impressed by the Welligence team and product and are excited by the scalability of the platform. Through the company's use of new technology, ideas, and methodologies, Welligence continues to take market share in a space traditionally monopolized by a few legacy players," said Christopher De Souza, Partner at Elephant. "Welligence's global energy database positions it well for expansion into new frontiers."

About Welligence
Welligence is a premier market intelligence firm, specializing in global oil and gas markets, greenhouse gas emissions, and projects related to carbon capture storage and utilization (CCUS). Our unique approach combines cutting-edge machine learning techniques with proprietary data on 180+ countries, offering unparalleled bottom-up asset-specific research and sophisticated valuation models for assets, companies, and portfolios.

Our diverse client base includes supermajors, exploration and production companies, national oil companies, and sector-leading investment banks, among others. With regional hubs in Houston, Austin, London, Edinburgh, and Singapore, we are strategically positioned to serve our global clientele effectively.

For more information, please visit: www.welligence.com

For sales inquiries, please contact: [email protected] 

About Elephant
Elephant is a venture capital firm focused on the enterprise software, consumer internet, and mobile markets.

About Veriten
Veriten is a research, investing, and strategy firm that draws from its energy-focused network and knowledge platform to bring diverse perspectives to the long-term energy discussion, helping our industry partners and investors improve strategic decision-making. Veriten leverages its research and strategy work to inform its investment strategy at NexTen, the firm's energy-focused investment fund. Independent and employee-owned, Veriten is committed to truth in energy, strength through partnership, rigorous analysis and research, and intellectual honesty. 

About EDG Group
EDG (Energy Development Group) has been a leader for over 50 years in the Middle East and Africa, providing operations, services, and sustainable solutions to the energy industry in the most challenging environments. EDG currently has operations and offices in over 20 countries and continues to expand.

SOURCE Welligence Energy Analytics