ComboCurve raised $50 million through a Series B funding round, less than six months after its Series A funding, cementing ComboCurve as “the fastest growing technology company in the energy industry,” the company said in an April 12 release.

Headquartered in Houston, ComboCurve is a scalable energy tech company with a cloud-based energy analytics and operating platform serving energy companies, financial institutions, mineral and royalty firms and private equity groups.

The Series B capital raise was led by Dragoneer Investment Group and Bessemer Venture Partners and will allow the company to accelerate the core product enhancements while expanding into other workflows, including greenhouse-gas emission forecasting, scheduling and modeling of renewable energy sources.

“ComboCurve was created to solve critical pain points, helping energy companies better manage their forecasting, valuation, reporting and decision-making functions. Our solution has resulted in widespread adoption by many of the world’s leading energy companies, and this investment led by Dragoneer and Bessemer, two of the world’s leading technology investment firms, will enable us to engage with additional energy companies to operate more efficiently,” commented Armand Paradis, CEO and co-founder of ComboCurve, in the release.

Since last year’s Series A funding round, ComboCurve has quickly become the energy operating platform of choice, boasting 650% year-over-year growth and more than 170 customers with a collective enterprise value exceeding $600 billion. ComboCurve’s software was named “Disruptive Technology of the Year” at the 2021 Northam Royalties Assembly Awards.

“ComboCurve has drastically improved the efficiency, ease, and accuracy of our acquisition efforts and asset management,” said Jarret Marcoux, vice president of engineering and acquisitions at Desert Peak Minerals, the largest independent Permian Basin pure-play mineral and royalty company which recently announced a $1.9 billion all-stock merger with Falcon Minerals. 

“Our organization is focused on holistic data integration to make informed decisions using the best tools available in the industry, and ComboCurve fits into that strategy perfectly. ... ComboCurve has been a refreshing change in an industry littered with antiquated software companies unwilling to innovate, change, or address customer needs,” Marcoux added.

Executing on a broader roadmap, ComboCurve’s mission is to become the software for energy asset management, including renewables, according to its release on April 12.

“ComboCurve is in the early innings of building a truly enduring franchise that is rapidly becoming the software backbone of their customers’ day-to-day operations,” commented Christian Jensen, partner at Dragoneer Investment Group. “We are excited to partner with Armand and his world-class team as they continue to deepen their suite with existing customers and expand their platform into renewables, emissions reporting, and all corners of the energy market.”

“ComboCurve is bringing the energy industry to the cloud and delivering a best-in-class, collaborative solution for energy forecasting, asset management, and more,” added Brian Feinstein, partner at Bessemer Venture Partners. “We’re thrilled to be partnering with ComboCurve in their journey to modernize the energy industry in the U.S. and beyond.” 

Dragoneer is a growth-oriented investment firm with over $27 billion in long-duration capital. Meanwhile, with $9 billion of capital under management, Bessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies.

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