RigUp
Funding History
| Series D · 10/2019 | $1.9B |
|---|---|
| Series E · 05/2021 | $2.9B |
About
RigUp operates a digital platform and software platform connecting independent contractors, service companies, and equipment vendors with upstream and midstream oil and gas operators. Its offerings span vendor sourcing and onboarding, safety and compliance management, contingent workforce staffing and payroll, bid and capital-project management, and vendor payments, positioning the company as what it calls a full-service execution partner for energy companies.
- CEO
- Mick Hollison
- Employees
- 201-500
- Headquarters
- Austin, Texas, United States
- Founded
- 2014
- Website
- rigup.com
Overview
RigUp -- legally Workrise Technologies Inc. -- is an Austin, Texas-based source-to-pay software and services company built for the energy industry, providing vendor management, workforce staffing, and capital-project spend-management tools to oil and gas operators and their suppliers. The company was founded in 2014 as RigUp, rebranded as Workrise in February 2021 to reflect an expanded mission beyond its original oilfield roots, and then reverted to its original RigUp name and brand effective September 4, 2025, a change co-founder and Executive Chairman Xuan Yong described as "a recommitment to the core strengths, expertise, relationships and values that have driven our success in serving the Oil and Gas industry from the very beginning."
RigUp grew from an oilfield-services platform into a unicorn-valued platform through a series of venture rounds, including a $60 million Series C led by Founders Fund in January 2019, a $300 million Series D led by Andreessen Horowitz in October 2019 that valued the company at $1.9 billion, and a $300 million Series E led by Baillie Gifford in May 2021 that pushed its valuation to $2.9 billion. The company has also grown by acquisition, including its September 2024 purchase of Codeco-Vanoco Engineering, a nearly 40-year-old Calgary-based drilling engineering and staffing firm.
RigUp remains an independent, privately held company with roughly 201-500 employees, according to its LinkedIn profile, and is not listed on any public stock exchange. Long-time co-founder and CEO Xuan Yong moved to the role of Executive Chairman in March 2024 when the company named Mick Hollison, a technology-industry veteran, as its next Chief Executive Officer.
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