HOUSTON--(BUSINESS WIRE)--Genesis Park today announced that it has invested in PetroCloud LLC, a technology leader of cloud-based solutions that provides automation, monitoring and security for the energy, utility and critical infrastructure industries. The financing serves as a growth platform for PetroCloud to add talent, expand its footprint and maintain the responsive customer service it has become known for as it serves new customers and markets.
Headquartered in Irving, Texas, the PetroCloud® Automation Platform empowers customers to remotely view, monitor and interact with their assets from any internet-enabled device. The company’s industrial internet of things (IoT) platform utilizes a unique “push” architecture and proprietary techniques for customers to receive real-time alerts from cameras, sensors, gauges and other field devices and bi-directionally control their remote assets. Providing solutions in “dead zones” where cellular reception is weak or absent enables operators to prevent unauthorized access and equipment loss due to theft or accidents. PetroCloud’s hardware is also available in solar power options allowing automation, access control and security in extremely remote areas not usually covered by traditional systems.
“Our customers’ most valuable assets reside in extremely remote areas and they can’t afford the old way of managing and securing these assets,” said Lance White, CEO of PetroCloud. “We give them the tools to cover more locations with fewer personnel and improve the overall safety and efficiency of their operations.”
“Today, customers utilize only a small percentage of available operational data but the adoption trend is quickly increasing,” said Peter Shaper, Founding Partner of Genesis Park. “PetroCloud has earned the trust of customers by helping them identify and collect information with cost-effective solutions that will truly improve their businesses. We look forward to our partnership together.”
Simmons & Company International® | Energy Specialists of Piper Jaffray® served as an advisor to PetroCloud.
About Genesis Park
Genesis Park is a Houston-based lower middle market buyout firm founded in 1999 that focuses on investments in the Southern U.S. The firm is actively involved in portfolio companies and places a strong emphasis on solving operational problems and professionalizing management and systems. The Genesis Park partners have worked together for more than 17 years investing and building businesses in information technology, software, energy services, telecommunications, financial and healthcare industries. The team’s deep Texas roots, operating experience and extensive network gives it unique advantages to bring to portfolio companies. For more information, visit www.genesis-park.com.
PetroCloud is a technology leader of cloud-based solutions that provides automation, monitoring and security to the energy and critical infrastructure industries. The company has built an advanced industrial internet of things (IoT) platform specifically designed to meet the requirements of the most critical and remote environments on earth. By partnering with customers to develop unique solutions where none previously existed, PetroCloud has earned the trust of oil and gas operators, utility managers and security and law enforcement personnel and oversees thousands of nodes throughout the United States. For more information, visit www.petrocloud.com.