Workrise

Workrise

Source-to-pay solution for energy sector

About Workrise

Simplify's Rating
Why Workrise is rated
B+
Rated B on Competitive Edge
Rated B on Growth Potential
Rated A on Rating Differentiation

Industries

Energy

Enterprise Software

Company Size

501-1,000

Company Stage

Series E

Total Funding

$752.5M

Headquarters

Austin, Texas

Founded

2014

Overview

Workrise provides a source-to-pay solution specifically designed for the energy sector. The platform combines specialized software with expert teams to improve collaboration between energy companies and their suppliers. It streamlines the procurement process, making it faster and more efficient by supporting every stage from sourcing to payment. Unlike many competitors, Workrise emphasizes the integration of technology with human expertise, ensuring that users receive both a powerful tool and knowledgeable support. The goal of Workrise is to enhance operational efficiency for large energy corporations and their supply chain partners, ultimately improving their procurement lifecycle.

Simplify Jobs

Simplify's Take

What believers are saying

  • Increased adoption of AI-driven procurement solutions enhances operational efficiency.
  • Remote work technologies enable better workforce management for energy companies.
  • Growing sustainability focus drives demand for streamlined supply chain platforms.

What critics are saying

  • Emerging workforce management platforms may erode Workrise's market share.
  • Volatility in energy prices could impact demand for Workrise's services.
  • Rapid technological advancements necessitate continuous innovation to stay competitive.

What makes Workrise unique

  • Workrise integrates specialized software with expert teams for energy sector procurement.
  • The platform supports the entire procurement lifecycle, from sourcing to payment.
  • Workrise combines technology and human expertise to enhance collaboration and efficiency.

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Funding

Total Funding

$752.5M

Above

Industry Average

Funded Over

7 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
Reddit
$300M
Workrise
$1250M
Epic Games
$1500M
Airbnb

Benefits

Health, dental, & vision insurance

Flexible PTO

401k

Disability & life insurance

Paid parental leave

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

0%

2 year growth

-2%
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

TechCrunch
May 20th, 2021
Workrise, once known as RigUp, raises $300M at a $2.9B valuation

Workrise, which has built a workforce management platform for the skilled trades, announced today that it has raised $300 million in a Series E round led by UK-based Baillie Gifford that values the company at $2.9 billion.

Finsmes
May 20th, 2021
Workrise Raises $300M in Series E Funding

Workrise, an Austin, Texas-based workforce management platform for the skilled trades, raised $300m in Series E funding. The round was led by Baillie Gifford, with participation from new investor Franklin Templeton and existing investors Founders Fund, Bedrock Capital, Andreessen Horowitz, Moore Strategic Ventures, 137 Ventures, and Brookfield Growth Partners. The company intends to use the funds to […]

Workrise
May 20th, 2021
Workrise raises $300 million in Series E Funding led by Baillie Gifford

Workrise, the leading workforce management platform for the skilled trades, has raised a $300 million Series E round led by Baillie Gifford.

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Workrise is Hiring for 3 Jobs on Simplify!

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