Wednesday, October 17, 2012

Verdande Technology Raises $8M

Verdande Technology, a developer of real-time decision making software for the oil and gas, financial services, and healthcare industries, said today that it has raised $8M in a funding round. The firm--which has offices in Houston--said the funding comes from Investinor AS, ProVenture Management and Statoil Technology Invest. Verdande's headquarters are in Norway. Verdande said its technology is used to sift through massive amounts of data to predict future problems, rapidly diagnose and correct issues, and events. The company also said it has received $1.75M in a grant from Innovation Norway for its efforts. Houston's Baker Hughes took a stake in a unit of Verdande Technology back in September, due to the firm's developing of drilling software for the oil and gas industry. More information »