R

RigUp

Energy source-to-pay procurement platform

Overview

RigUp provides a source-to-pay procurement platform designed for the energy sector. It combines specialized software with expert teams to connect large energy companies with their suppliers, supporting the entire procurement lifecycle from sourcing to payment. The platform streamlines workflows, speeds up purchasing, and improves overall efficiency by enabling better collaboration between energy firms and their suppliers. Unlike more generic procurement tools, RigUp focuses on energy-specific needs and couples technology with human expertise to drive faster, more reliable procurement. The company aims to help energy customers reduce cycle times, cut costs, and strengthen supplier relationships through an integrated platform and services.

Work here?Claim your company

About RigUp

Simplify's Rating
Why RigUp is rated
C-
Rated C on Competitive Edge
Rated C on Growth Potential
Rated D+ on Differentiation

Industries

EnergyEnterprise Software

Company Size

201-500

Company Stage

Series E

Total Funding

$752.5M

Headquarters

Austin, TX

Founded

2014

Get referred to RigUp

See people who can refer or advise you

Simplify Jobs

Simplify's take

What believers are saying

  • RigUp launched Discovery and Bid Management in 2024, broadening workflow control.
  • The company raised $300 million in 2021 at a $2.9 billion valuation.
  • Customers keep buying single-platform vendor management because energy procurement remains fragmented and manual.

What critics are saying

  • Workrise cut 450 jobs in January 2025, signaling severe cost pressure.
  • Headcount fell to 251 by October 2026, shrinking execution capacity and sales coverage.
  • Energy-specific concentration leaves RigUp exposed if oilfield procurement spending slows in 2027.

What makes RigUp unique

  • RigUp combines source-to-pay software with managed services for energy operators.
  • The September 2025 rebrand back to RigUp reinforces its oilfield specialization.
  • Its vendor lifecycle stack spans sourcing, onboarding, compliance, payments, and bid management.

Help us improve and share your feedback! Did you find this helpful?

Funding

Total Funding

$752.5M

Above

Industry Average

Funded Over

8 Rounds

Series E funding typically includes additional rounds after Series D if the company needs more capital. The business is usually stable, and these rounds are typically used for further expansion or to address market challenges.
Series E Funding Comparison
Above Average

Industry standards

$100M
$250M
$300M
$1.3B
$1.5B

Benefits

  • Unlimited Paid Time Off
  • Health Insurance
  • Dental Insurance
  • Vision Insurance
  • 401(k) Retirement Plan
  • 401(k) Company Match
  • Remote Work Options
  • Flexible Work Hours
  • Wellness Program
  • Parental Leave
  • Pet Insurance
  • Gym Membership

Growth & Insights and Company News

6 month growth

-1%

1 year growth

-2%

2 year growth

0%
Business Wire
May 14th, 2024
Workrise Names Dave Moxey As Company’S First Chief Marketing Officer

AUSTIN, Texas--(BUSINESS WIRE)--Workrise, the source-to-pay company for energy, is proud to announce the appointment of Dave Moxey as its first Chief Marketing Officer and SVP of Strategy. Moxey’s experience in new product introduction and category creation will be pivotal in driving Workrise’s vision of revolutionizing the energy ecosystem by optimizing and automating source-to-pay solutions. Moxey will report to CEO Mick Hollison and be responsible for all aspects of marketing including product marketing, product packaging, and pricing. He will also partner closely with product and sales leadership under his purview as SVP of Strategy as Workrise enters its next phase of growth. "Workrise is developing a unique blend of software and services that will support the largest and most successful energy companies at every step in the process from sourcing to payments,” said Moxey. “Data and AI may be the new oil, but it’s still energy that fuels human potential

Business Wire
Mar 7th, 2024
Workrise Names Mick Hollison As Next Ceo

AUSTIN, Texas--(BUSINESS WIRE)--Workrise, the energy supply chain company, proudly announces the appointment of Mick Hollison as its new Chief Executive Officer. Hollison, a seasoned technology leader renowned for his strategic vision and operational expertise, steps into the role with a commitment to driving Workrise's growth and innovation in the dynamic energy sector. He will also join the company’s board of directors. Mike Witte, the company’s co-founder and previous CEO will remain a member of the board. With over two decades of experience in executive leadership positions across various technology and enterprise software companies, Hollison brings a wealth of knowledge and a proven track record of driving business success. His appointment marks an exciting new chapter for Workrise as the company continues its mission to build software and services that forge the connections that make it easier, faster, and safer to power our world

Recently Posted Jobs

Sign up to get curated job recommendations

RigUp is Hiring for 3 Jobs on Simplify!

Find jobs on Simplify and start your career today

Don't see your dream role? Check out thousands of other roles on Simplify.Browse all jobs