Reality Mobile welcomes Chevron Technology Ventures, Dobson and Energy Ventures as new investors
We are very pleased to welcome Chevron Technology Ventures, the Dobson Partnership and Energy Ventures as investors and strategic partners in our business. Together, they have invested $6.5 million to help us accelerate the delivery of our enterprise-class RealityVision platform to global enterprises and government organizations requiring instant mobile collaboration capabilities. Check out our press release announcing the investment and our articles in the Washington Post, the Washington Business Journal and the Houston Business Journal.
CHEVRON TECHNOLOGY VENTURES
Chevron is one of the world’s leading integrated energy companies. Its investment in Reality Mobile is being made by CTTV Investments LLC, the venture capital arm of Chevron Technology Ventures. Chevron Technology Ventures champions innovation, commercialization and integration of emerging technologies within Chevron, serving as one of the company's most important technology "scouts."
DOBSON PARTNERSHIP
The Dobson Partnership is led by managing partner Everett Dobson, the founder and former CEO of telecommunications leader Dobson Communications. Dobson Communications was the country’s ninth largest wireless communications provider prior to its acquisition by AT&T.
Energy Ventures is the leading venture capital firm providing competent capital to high growth oil and gas technology companies. The firm manages and advises four oil and gas venture funds with a combined capital base of US $400 million and is headquartered in Stavanger, Norway, with offices in Aberdeen, U.K., and Houston, U.S. Energy Ventures’ team has extensive industry, investment, transaction and stewardship experience, as well as a wide-ranging network in the oil and gas industry.
We are very excited about having such a strong investor group to help us expand our existing customer base. Working with them, we will be focusing in particular on accelerating the use of RealityVision’s dynamic capabilities in the energy sector, where there is a critical need to address high-risk scenarios quickly, to connect with experts located all over the world and to collectively visualize events in real time.
The Financial Times put it nicely in their October 13th blog entry, As finding resources means more remote locations, technology is key:
"As oil and gas companies the world over are searching increasingly remote locations for new sources of oil and gas, technology is going to play a growing role in accessing those resources. It is also going to play a major role in maintaining them and keeping them flowing. That is why consultants have long urged the sector to increase its research and development budgets. Yet there may be a faster and cheaper solution to technological advances than in-house research."
Namely, our RealityVision technology.
For example, imagine a field engineer on a platform in the Gulf of Mexico or the North Sea faced with an unexpected breakdown in the drilling program. Using RealityVision’s Screencast feature, that engineer can connect to an expert in the home office and the two can share seismic data simulations via their mobile phones to get a better look at what might be causing the issue. This connectivity stands to replace costly helicopter trips to transport these experts out to remote platforms, and reduce operational downtime.
Working with our investors, we now we have the opportunity to demonstrate how in scenarios like this and hundreds of others our mobile collaboration platform will allow users in the field to connect and share real-time data with the people who need to see it most, especially when time is of the essence. Check back soon for more news and information about our move into energy.