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01 Jun


Oil data startup Tachyus fuels up with funding from Founders Fund (and HRV)

June 1, 2015 | By |

No matter how you feel about climate change, the oil industry is becoming more data-driven and efficient thanks to this startup.

Oil isn’t the most popular industry in the Bay Area, admits Dakin Sloss, co-founder and CEO of Tachyus, an 18-month-old Silicon Valley startup that builds data tools for the oil industry. But Sloss — a serial entrepreneur who graduated from Stanford in 2011 — says “if you care about energy, then you should care about oil and gas. There’s a big opportunity for more data-driven efficiency.”

The startup seems to have hit a nerve initially with oil well operators in the U.S. Sloss says that the company’s data models are being used at 6,000 oil wells domestically helping operators increase their oil production by an average of 20 to 30 percent and enabling Tachyus to grow its revenues around 20 percent week over week. Sloss declined to name the company’s oil operator customers.

Sloss tells Fortune that, following this growth, Tachyus has recently closed on a Series A round of $13 million in funding led by the Founders Fund, the venture capital firm created by former PayPal founders including Peter Thiel. Founders Fund has backed startups like SpaceX, Palantir, Airbnb, Facebook, Lyft, Spotify and Yammer. Read more on Fortune

08 Jul


Tachyus is hiring!

July 8, 2014 | By |

tachyus_smNow hiring Software Engineers, Petroleum Engineers, and Data Physicists. Find out more!

10 Apr


Tachyus, a Data Start-Up for Oil Industry, Raises $6 Million

April 10, 2014 | By |

Since graduating from Stanford in 2011, Dakin Sloss has already co-founded two start-ups, including the government data analysis company OpenGov.

But several months ago, he and two friends began discussing what their next project should be. After research into a number of industries ripe for more sophisticated data analysis, they came up with a surprising one: oil and gas.

What the three founded has become Tachyus, which aims to create an array of sensors and mobile applications to help oil and gas producers better record and analyze their wells. The company plans to announce as soon as Thursday that it has raised $6 million from a group led by Founders Fund and includes Streamlined Ventures, Caffeinated Capital, Huron River Ventures, and Formation 8.

Read more on New York Times: Dealbook