# ResFrac Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/resfrac

- Industry: Software
- Headquarters: Palo Alto, US
- Website: www.resfrac.com
- Total disclosed funding: $5M
- Latest round: Series A (Apr 15, 2020)
- Investors on record: 1

## About

ResFrac Corporation develops advanced software solutions for hydraulic fracturing and reservoir simulation, utilizing physics-based modeling to help operators enhance oil recovery and optimize well performance.Founded in 2015 in Palo Alto, US, ResFrac Corporation specializes in hydraulic fracturing and reservoir simulation software. The company raised USD 2 million in Series A funding on April 15, 2020, from Altira Group, bringing their total amount raised to USD 2 million and a current valuation of USD 20.28 mn. The company is led by CEO Mark McClure, one of the founders, alongside Charles Kang.ResFrac Corporation specializes in advanced software solutions for hydraulic fracturing and reservoir simulation, employing a unique physics-based modeling approach. Their flagship product integrates hydraulic fracturing and reservoir simulation into a single platform, allowing operators to simulate the full lifecycle of a well, from stimulation through to production and enhanced oil recovery (EOR). This innovative software addresses complex issues such as proppant transport, wellbore dynamics, and parent/child well interactions, enabling clients to optimize well spacing and stage length for improved capital efficiency. The company serves a diverse client base, including over 35 operators in major shale plays across North America, such as the Vaca Muerta and Utica formations, as well as international markets where enhanced geothermal systems are being developed.ResFrac Corporation generates revenue through direct software licensing and consulting services, offering tailored solutions for a wide range of clients in the oil and gas sector. Clients typically engage with the company through subscription models, paying for access to the software and ongoing support, in addition to performance-based consulting arrangements that may involve revenue sharing based on the success of the implemented solutions. The company’s offerings include their ResFracPro software, aimed at optimizing hydraulic fracturing operations, while providing extensive training and documentation to assist clients in leveraging the technology effectively.ResFrac Corporation plans to utilize the recent USD 2 million funding from their Series A round for enhancing their software capabilities and expanding their market reach. The company is designing new features for their existing platform and is exploring entry into new international markets for enhanced geothermal systems and other applications. The funding will also support initiatives aimed at improving client engagement and operational efficiencies, ensuring that they meet the evolving needs of their customers.

## Funding rounds

- Series A, Apr 15, 2020, $2M — Altira Group
- Seed, Jun 1, 2018, $3M — Altira Group

## Investors

- Altira Group (https://capitalatlas.ai/funds/altira-group) — Seed, Series A