Data Gumbo, a Houston, TX-based smart contract solution provider, closed a $4M Series C equity funding.
The round was co-led by Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco, and Equinor Technology Ventures, the venture subsidiary of Equinor, Norway’s leading energy operator.
The company intends to use the funds to expand operations and its business reach.
Led by William Fox, Chief Executive Officer, and Andrew Bruce, Founder, Data Gumbo empowers enterprises and their business networks to transact securely, increasing operational efficiencies, accountability, transparency, and cash flow certainty. With a distributed ledger technology, the company’s smart contract platform utilizes real-time IoT sensor data, reducing friction to deliver streamlined operations and transactional certainty while maintaining security controls to protect its customers and their network.
By tapping into existing IIoT data sources to trigger confirmation and payment automation of contractual commercial terms, organizations are able to eliminate the time-consuming process of validating invoices and transactions and fully automating the procure-to-pay and order-to-cash processes.
FinSMEs
10/08/2022