Peloton Computer Enterprises Ltd., a Calgary based provider of well data software solutions to the oil and gas industry, has closed a growth equity round of financing led by Silver Lake Kraftwerk, a fund of Silver Lake. TriWest Capital Partners and HarbourVest Partners also participated in the investment. Financial terms were not disclosed.
Silver Lake Kraftwerk provides growth capital to technology and tech-enabled businesses driving efficiency across the operations, energy, and resources industries.
Peloton is one of the largest oil and gas software companies in the world with more than 450 clients, including 21 of the 25 biggest North American exploration and production companies. The company has 12 offices worldwide including its newest office in Denver, Colorado which opened earlier this month.
Peloton’s software helps oil and gas companies focus their operations and improve their strategic decision-making through better data management during the entire lifecycle of a well, including drilling, well operations, and production.
“Peloton is a world-class software organization with a market-leading product portfolio, and we are thrilled to partner with them for their next phase of growth,” said Bryce Lee, Managing Director at Silver Lake Kraftwerk. “The company is uniquely positioned to help oil and gas companies optimize their operations through superior data-driven insights from a modern software suite. We look forward to working with management to continue their product-first strategy, including exploring potential investments in new product capabilities and M&A opportunities.”
“Peloton is excited to collaborate with our first strategic financial partners,” said Glen Gray, Chief Executive Officer of Peloton. “Their expertise in technology, energy, and information solutions aligns perfectly with our vision. We look forward to working with them to continue expanding our proven technology globally, and delivering valuable new opportunities to our clients, partners, and employees.”
photo credit: Peloton