# Motive Drilling Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/motive-drilling-technologies

- Industry: Software
- Headquarters: Dallas, US
- Website: www.motivedrilling.com
- Total disclosed funding: $11M
- Latest round: Series A (Feb 17, 2016)
- Investors on record: 2

## About

Motive Drilling Technologies, Inc. is a Dallas-based company that specializes in providing innovative drilling solutions to enhance operational efficiency and optimize processes within the drilling industry.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. The company has successfully completed 2 deals to date, with the most recent deal occurring in May 2017.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. These solutions have been launched in recent years and are deployed in markets spanning North America, Europe, and parts of Asia, reflecting an effective penetration strategy in both established and emerging markets.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. Their flagship products are designed to meet competitive landscape demands and foster long-term client relationships through value-driven services.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.

## Funding rounds

- Series A, Feb 17, 2016, $11M — Formation8, GE Ventures

## Investors

- Formation8 (https://capitalatlas.ai/funds/formation8) — Series A
- GE Ventures — Series A