SEE Forge Secures $1 Million in Seed Funding Led by Mercury Fund
HOUSTON, Texas, May 5, 2014-- Mercury Fund, a Houston-based venture capital group, led the funding round, which also included Correlation Ventures as well as a number of top Oil & Gas experts. SEE Forge will use the funding to expand its mobile and analytics platform and to support its rapidly growing customer base focused in Oil & Gas.
“Mercury Fund and our other partners joining the team is extremely exciting,” said James McDonough, CEO of SEE Forge. “Having investors who understand energy and are aligned to solving these serious challenges will help accelerate our vision of lowering operational costs and reducing risk in energy operations.”
Founded in Perth, Australia in 2012, SEE Forge provides a cloud-based solution for improving operational efficiencies and lowering risks. By providing employees with a single app that combines any process and all existing systems, SEE Forge’s solution eliminates paperwork and spreadsheets so that companies can monitor and perform predictive analytics in real time. SEE Forge is currently in the SURGE Accelerator program and graduates May 21, 2014.
“The theme of consumerization of IT is something we have been focusing on at Mercury Fund,” said Blair Garrou, Managing Director at Mercury Fund. “We have seen a lot of mobile workflow solutions serving various industries, but See Forge’s solution is the first we’ve seen that can be applied across many industries, which was very interesting for us."
Companies waste billions of dollars a year on inefficient site based processes. Paper, Excel and legacy systems frustrate employees and put vital operations as risk. Employees demand a fast and simple consumer experience. SEE Forge provides a real-time window into operations uncovering risks and opportunities for improvement that have never been seen before.
“We invested in SEE Forge because of the entrepreneurs; James McDonough (CEO) and Chris Bjorklund (CPO)” said Kirk Coburn, Founder and Managing Director of SURGE Accelerator. “The founders are operational experts that have spent years in the field understanding customer needs. We have seen many other startups in this space, but none of them with this level of expertise and focus on delivering an easy to-use-product.”
About SEE Forge
SEE Forge is a cloud based solution for improving operational efficiencies and lowering risks. SEE Forge eliminates paper work and spreadsheets so companies can monitor, do predictive analytics in real time and to notify employees and systems for faster response. Employees has a single device for all applications and processes.
About SURGE Accelerator
SURGE is the leading seed fund and mentor-driven accelerator that identifies, invests in, and enables entrepreneurs who are solving the world's energy problems using technology. SURGE is ranked in the top ten accelerators in the US. Portfolio companies have raised over $25M in funding, generated similar amounts in customer revenue, and created more than 150 jobs since May 2012.
Based in Houston, Texas, "The Energy Capital of the World", SURGE identifies leaders, validates business models, raises capital, and connects startups to customers and the global energy ecosystem. SURGE has recruited over 150 of the world's top scientists, engineers, executives, entrepreneurs, venture capitalists, and angel investors to serve as mentors.
About Mercury Fund
Mercury Fund is a seed and early-stage venture capital firm headquartered in Houston, Texas. With over $200 million under management, Mercury invests in compelling and novel software and science-based start-up opportunities, focusing on entrepreneurs and innovation originating in the U.S. Midcontinent. Since inception in 2005, Mercury has become one of the most active venture funds in the Midcontinent, becoming a "go-to" fund for entrepreneurs at the earliest stages of idea generation, company formation, and market execution.
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