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Big data startup EquityMetrix has taken $5 million in growth investment from Peterson Partners, a Salt Lake City-based private equity firm.
The company, which provides land data management services to the oil and gas industry, tells us via email that the cash will be used to roll out new services for pinpointing revenue problems.
“On average, we recover 1 percent of total revenue, which has unlocked tens of millions of dollars in unclaimed revenue for our clients,” said Tom Agnew, CEO and founder of EquityMetrix, in a statement on the news.
“With this capital infusion, we look forward to accelerating our growth and introducing new services that deliver significant value for our customers.”
EquityMetrix is based in Dallas, Tex., and was founded in 2003.