Archeio Technologies Raises $1M in Funding

Archeio Technologies, a Dallas, Texas-based provider of intelligent software and services to the upstream oil and gas industry, raised approximately $1m in funding. The company will use the funds to expand product development, sales, and support teams. Founded in 2015 by Rex Womble and Chetan Chouhan, Archeio Technologies combines cloud computing, machine learning, and intelligent search technology to provide SaaS based software that allows organizations including Parsley Energy (NYSE: PE) to manage large volume of information generated throughout the well lifecycle, including engineering, geology, land, regulatory, and production data. The company – which employs seven full time staff – has already attracted a portfolio of clients, from large, publically traded companies to independent operators, and currently manages information for thousands of wells across North America.