About Zeno Technologies Inc

A product of 8VC's Build Program, Zeno is a visibility and accounting suit for midsized (i.e., non-major) upstream oil and gas companies. The software integrates with the existing fragmented tech stack and (or legacy) tools across the organization to give CFOs “command center” visibility into the performance of all their assets and allow them to run sophisticated forecasts and analyses. Zeno allows E&P operators the ability to integrate across the existing tech-stack (ERP, production data, drilling and reserves economics, land data, accounting, and market data), giving CFOs real-time insight into their asset’s performance.

Zeno has invested heavily in building a data integration platform for the fragmented O&G software stack over the last three years. We previously had a CEO from Salesforce but struggled to productize it successfully or achieve traction in the market, culminating in 5 months with no sales from November 2022. Following the hire of our newest CEO (Sean), the team was able to close 5 contracts within 4 months.

Product Features:
- Command Centers for CFOs
- CAPEX resource planning and financial forecasting
- Asset management
- Portfolio view

Tagged with

Oil & GasFinanceAnalyticsB2B

Team

Problem statement

By targeting supply chain visibility issues that plague O&G markets (wells, land rights, mineral data, purification, etc.), Zeno aims to build a high-fidelity data set that can be translated into investor advantages like increased transparency and reduced inefficiencies. The business model is such that we charge smaller contract values for the O&G operators (<$500k) while taking up from 1-10% (depending on size) of each position hedged. Zeno's hedging model doubles their addressable market and allows them to scale much more quickly.

Traction Metrics

Traction information

- 6 contracts with S/M O&G firms representing $600k in ARR, with a total pipeline value of $1m in contracts.
The largest customer is Callon Petroleum (NYSE: CPE) with an ACV of $250k that was renewed recently.
- Over $250k ARR signed between April 23' and August 23'
- 1 utility patent
- 14 FTEs

Product images

Milestones

November 2023

Zeno Technologies Unveils Updates with Releases v29.0 and v30.1

Zeno Technologies has announced powerful updates to its platform, enhancing the user experience and the efficiency of financial and operational planning for the energy industry. Two recent releases, v29.0 and v30.1, have introduced significant features and optimizations.

Updates

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Funding

Currently raising capital

$1,650,000

committed

$4,300,000

round goal

Total raised to date:$12,361,689