CruxOCM Raises $17 Million in Series A
CruxOCM, a Calgary, Canada-based company specializing in co-pilot technology for control room operators, has raised $17 million in Series A funding, bringing its total raised to $27 million.
CruxOCM, a Calgary, Canada-based company specializing in co-pilot technology for control room operators, has raised $17 million in Series A funding, bringing its total raised to $27 million.
Investors
The round was led by M12, Microsoft’s Venture Fund, with new contributors including ONEOK, Raven Indigenous Capital Partners, and the EIC Rose Rock Fund. It also saw continued support from existing investors Angular Ventures, Bullpen Capital, Root Ventures, Industry Ventures, Cendana Capital, Pipeline Capital Partners, and Golden Ventures.
M12, the venture capital arm of Microsoft, invests in early-stage companies with a focus on AI, cloud infrastructure, cybersecurity, developer tools, vertical SaaS, and Web3/Gaming. Since 2016, M12 has invested in over 100 companies, helping startups accelerate growth through unparalleled access to Microsoft.
CruxOCM Use of Funds
The company will utilize the funding to accelerate its growth and implement co-pilot technology for control room operators across the midstream and broader energy sectors.
About CruxOCM
CruxOCM is a technology company specializing in co-pilot solutions for control room operators in the energy sector. Its flagship technology includes pipeBOT™, maxOPT™, and leanOPT™, offering advanced automation, real-time data connectivity, and optimization features. CruxOCM’s platform empowers energy organizations to enhance their financial performance, sustainability, and QHSE (Quality, Health, Safety, and Environment) practices by integrating cross-domain, real-time, AI-driven software at the core of their operations.
Funding Details
Company: CruxOCM, Inc.
Raised: $17.0M
Round: Series A
Funding Date: August 2024
Lead Investor: M12
Additional Investors: ONEOK, Raven Indigenous Capital Partners, EIC Rose Rock Fund, Angular Ventures, Bullpen Capital, Root Ventures, Industry Ventures, Cendana Capital, Pipeline Capital Partners, Golden Ventures
Company Website: https://cruxocm.com/
Software Category: Control Room Management
