RigUp provides a cloud‑based source‑to‑pay platform for upstream, midstream and downstream energy operators. The solution integrates vendor discovery, automated onboarding, compliance checks, bid management, invoicing and payment into a single workflow, delivering real‑time spend visibility and analytics. Optional managed‑service add‑ons let RigUp’s team handle vendor onboarding and ongoing oversight.
Funding
$300M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
BGFounders
Product
Problem
Energy operators often rely on a patchwork of disparate tools for sourcing, onboarding, compliance verification, invoicing, and payment of non‑core suppliers. This fragmented workflow creates manual bottlenecks, limited spend visibility, and elevated compliance risk, leading to higher project costs and delayed execution.
Solution
RigUp delivers a unified source‑to‑pay platform built specifically for the energy sector. The cloud‑based solution consolidates vendor discovery, onboarding, safety and compliance checks, bid management, invoicing, and payments into a single workflow. Real‑time analytics provide instant visibility into spend, budget variance, and vendor performance, enabling proactive cost control. Automated document capture and rule‑based compliance validation reduce manual effort, while a searchable network of 200 + vetted service categories accelerates vendor selection. Optional managed‑service add‑ons allow RigUp’s supply‑chain team to handle onboarding and ongoing vendor oversight on behalf of the client, ensuring a frictionless end‑to‑end procurement experience.
Target Audience
The primary customers are upstream, midstream, and downstream oil‑and‑gas operators and energy service companies that manage large volumes of non‑core contractors and capital‑intensive projects.
Features
- Integrated vendor marketplace covering 200 + service categories with searchable filters for energy‑specific criteria.
- Automated onboarding engine that ingests contracts, insurance certificates, and safety documentation, applying configurable compliance rules.
- Bid and RFQ management tools that broadcast requests to the network, collect bids, and enforce pre‑defined pricing structures.
- Real‑time spend dashboard with budget tracking, AFE (Authorization for Expenditure) integration, and analytics for ROI optimization.
- End‑to‑end invoicing and payment processing, including electronic invoice capture, validation against work orders, and scheduled disbursements.
- Customizable safety and HSE compliance workflows, with alerts for missing or expiring vendor qualifications.
- Optional managed‑service layer that provides dedicated account teams to oversee vendor onboarding, compliance monitoring, and dispute resolution.
- API connectivity for downstream ERP or EHR systems, supporting data export in standard formats (e.g., CSV, JSON).