Data Gumbo Wraps Momentous Year of Growth Powering Transactional Certainty for Commercial Relationships
Summary
“We’ve had a tremendous year of growth bringing transactional certainty to commercial relationships across capital-intensive and asset-heavy companies,” said Andrew Bruce, CEO and Founder, Data Gumbo. “In 2020, Data Gumbo achieved numerous milestones including forging a robust sales pipeline, expanding our executive team, receiving a capital infusion to support momentum, and adding several strategic partnerships. While it’s been a challenging year navigating the tumult of a pandemic and downturned oil market, we are excited for the bright future ahead as some of the world’s most critical industries are discovering GumboNet to not only survive but thrive out of this crisis.” With the first close of its Series B funding round in late September, the company has added experienced talent to guide the company into the future: Richard Dobbs, Board Chairman; Bill Arend, Chief Commercial Officer; Bruce Bain, Head of Channels and Alliances; Gina Manassero, VP of Communications; and Henry St. Aubyn, VP of Services — Europe. Deployed by the Offshore Operators Oil & Gas Blockchain Consortium (a group of 10 major oil and gas companies that recently rebranded as Blockchain for Energy) to automate produced water haulage from field readings to invoice payments, Data Gumbo’s network resulted in reducing current processes from 90-120 days down to one to seven days with 85% of all volume measurements automatically validated to enable a 25-35% reallocation of resources due to cost savings. “We enable companies to leverage trust to capture unprecedented cost-savings, and streamline operational efficiencies in a global transactional environment, and are primed for a great year ahead building on our existing momentum.