Motive Drilling Technologies
Latest round
- Series A
Last raised
- Feb 2016
Total raised
- $11M
Investors
- 2
About Motive Drilling Technologies
Motive Drilling Technologies, Inc.Founded in 2015 and headquartered in Dallas, Texas, Motive Drilling Technologies, Inc. focuses on delivering advanced drilling technologies. In May 2017, the company was acquired by Helmerich & Payne, Inc. for USD 75 mn, marking a pivotal point in its business strategy. The deal included additional potential earnout payments of USD 25 mn.Motive Drilling Technologies specializes in a range of innovative solutions tailored to address specific challenges in the drilling sector. Their core offerings include advanced technology platforms designed to streamline operations and enhance efficiency for a diverse clientele, including enterprise-level organizations and small to medium-sized businesses across sectors such as energy and manufacturing.The revenue model of Motive Drilling Technologies is structured around a combination of subscription services and direct sales, catering to both B2B and B2C sectors. Clients engage through annual or monthly subscription plans that provide access to key products, often with tiered pricing based on user numbers or feature requirements. This model is supported by partnerships with distributors, enhancing market reach and brand visibility.Motive Drilling Technologies plans to launch new products aimed at addressing evolving market needs, with specific timelines expected to be established in the coming quarters. The company is targeting expansion into new geographic markets in Europe and parts of Asia by the end of 2021. The recent acquisition by Helmerich & Payne, Inc. for USD 75 mn will facilitate these initiatives, providing the necessary capital to invest in product development and market penetration strategies.
Who invested in Motive Drilling Technologies
2 investors across 1 round
See all investors in Motive Drilling Technologies
Sign up free to see every VC on the cap table, the rounds they joined, and how much each round raised.
Funding rounds
Series A
Feb 17, 2016
Amount
$11M
Investors
Questions about Motive Drilling Technologies
Who invested in Motive Drilling Technologies?
Motive Drilling Technologies has 2 investors on record across 1 venture round. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has Motive Drilling Technologies raised?
Motive Drilling Technologies has raised 1 venture round. Sign up free to see how much each round raised and the total.
When did Motive Drilling Technologies last raise money?
Motive Drilling Technologies's most recent round on record is a Series A, in Feb 2016.
What does Motive Drilling Technologies do?
Motive Drilling Technologies, Inc.
Where is Motive Drilling Technologies headquartered?
Motive Drilling Technologies is headquartered in Dallas, US.
Which VCs invest in companies like Motive Drilling Technologies?
Among active investors with capital left to deploy, Andreessen Horowitz, Founders Fund, Accel and Thrive Capital back software companies at Motive Drilling Technologies's stage. Their profiles are linked below.
VCs backing software startups at Series A
Raising like Motive Drilling Technologies? Find the right VCs.
Capital Atlas matches your startup to active investors by stage, sector and region.