About Baker Hughes
Baker Hughes is an Industrial Goods & Manufacturing company based in Austin (United States) founded in 2001, and was acquired by Baker Hughes in May 2022. Machine-learning-based asset monitoring software solutions are provided. It operates on a SaaS (Software-as-a-Service) and Managed Services model in Industrial Goods & Manufacturing and Technology sectors. Baker Hughes has raised $19.64 million across 9 funding rounds from investors including Chevron, Baker Hughes and LiveOak. Baker Hughes offers products and services including Advanced Digital Services, Energy Transition Solutions, and Carbon Capture, Utilization, and Storage (CCUS). Its focus areas include Energy, Oil & Gas, Oilfield Services and Industrial Technology. Its legal entity is Baker Hughes Company. Its competitors include MoBagel, Flutura and Adapdix; 3 of its 3 listed competitors have raised funding.
Company details
A wide range of digital and energy solutions are offered by Baker Hughes. Services include advanced digital tools for turbomachinery and industrial applications. Energy transition technologies are developed to support net-zero goals. Solutions for carbon capture, utilization, and storage are integrated for emissions management. Operations span across oil and gas, industrial technology, and environmental sectors. Expertise is applied to enhance efficiency and reduce environmental impact. Comprehensive support is extended through remote operations and advisory services.
- Headquarters Austin, United States
- Stage Acquired
- SectorsIndustrial Goods & ManufacturingTechnology
- Email••••••••
- Phone•••• ••••
- Website verossystems.com
- Social LinkedIn X Instagram YouTube
- Acquired by Baker Hughes (May 2022)
- Legal Name Baker Hughes Company
- Total Equity Funding$19.64M (USD)
in 9 rounds
- Latest Funding Round$2.2M (USD), Series C
Jun 2020
- InvestorsChevron
& 7 more
- Acquired byBaker Hughes
(May 2022)
Products & Services of Baker Hughes
Baker Hughes offers a comprehensive portfolio of products and services, including Advanced Digital Services, Energy Transition Solutions, and Carbon Capture, Utilization, and Storage (CCUS).
Digital services are provided for turbomachinery performance enhancement.
Solutions are offered for advancing net-zero energy goals.
Integrated solutions are developed for CO2 emissions management.
Apps and channels of Baker Hughes
its YouTube channel Baker Hughes has 4.98K subscribers and 30 videos.
Videos from Baker Hughes
The most watched videos on Baker Hughes's YouTube channel, Baker Hughes (4.98K subscribers). Click a video to play it here.
More on Baker Hughes.
Funding Insights of Baker Hughes
Baker Hughes has successfully raised a total of $19.64M across 9 strategic funding rounds. The most recent funding activity was a Series C round of $2.2 million completed in June 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $19.64M
- Total Rounds 9
- Last Round Series C — $2.2M
- First Round $1.2M
(Nov 2007)
- Investors Count 7
All 9 funding rounds of Baker Hughes with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun 2020 | $2.2M | Series C | – | Shell Ventures | |
| Apr 2018 | $3M | Series A | – | – | – |
| Jul 2014 | $2.8M | Series A | – | Shell Ventures | – |
| Sep 2013 | $3M | Series A | – | Chevron | – |
| Jul 2013 | $5.94M | Series A | – | Austin Ventures, LiveOak Venture Partners | – |
| Jun 2012 | $1.5M | Seed | – | Texas Economic Development Corporation | – |
| Jul 2009 | $719,468 | Grant | – | – | |
| Sep 2008 | $150,000 | Grant | – | – | |
| Nov 2007 | $1.2M | Seed | – | – | – |
8 investors in total: 8 institutional.
Investors in Baker Hughes
Baker Hughes has secured backing from 8 investors, including institutional and venture fund investors. Prominent investors backing the company include Chevron, Baker Hughes and LiveOak.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Seed & early stage multiple stage focused corp VC firm funding companies in the US and Canada | chevron.com/technology/technology-ventures | Houston, United States | ||
Venture capital investments in Texas-based companies. | austinventures.com | |||
Venture capital firm backed by Shell | shell.com/energy-and-innovation/innovating-together/shell-technology-ventures.html | The Hague, Netherlands | ||
Venture capital investments are provided to Texas-based tech founders. | liveoakvp.com | United States | ||
Chevron Corporation is engaged in global energy production and sustainability. | 1879 | chevron.com | United States | |
Economic development is facilitated for businesses in Texas. | texaswideopenforbusiness.com | Austin, United States | ||
A government-backed foundation providing seed-stage investments to support small businesses. | 1950 | nsf.gov | Arlington, United States | |
Oil field services for drilling and production are provided globally. | 1987 | bakerhughes.com | Houston, United States |
Investor details for Baker Hughes
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
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Timeline of Baker Hughes
4 dated milestones of Baker Hughes across 21 years, from founding to its latest funding, stage changes and deals.
- Founded Baker Hughes is founded.
- Funding First funding round of $1.2M.
- Funding Latest funding round, Series C, of $2.2M.
- Exit Acquired by Baker Hughes.
Competitors of Baker Hughes
Baker Hughes has 3 listed competitors in our database, 3 of them funded. They include MoBagel, Flutura and Adapdix.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| mobagel.com | 2009 | Mountain View, United States | $5.16M | IoT analytics software is offered for device manufacturers and designers. | ||
| flutura.com | 2012 | Houston, United States | $9.62M | End to end IoT platform for asset monitoring | ||
| adapdix.com | 2014 | Pleasanton, United States | $8M | Asset monitoring software is provided for industrial equipment optimization. |
Detailed competitors of Baker Hughes
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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Top companies in Manufacturing Tech Solutions
3 companies that operate in the same segment as Baker Hughes (Manufacturing Tech Solutions) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Cloud-based ERP software is offered for multiple industries. | 2002 | New York, New York, United States | USD 1.52 B | USD 3.17 B | 22,153 | |
Platform for on-demand distributed manufacturing and prototyping is provided. | 2013 | Gaithersburg, Maryland, United States | USD 200.44 M | USD 686.63 M | 1,090 | |
AI-based robotic arms are developed for industrial automation tasks. | 2010 | San Francisco, California, United States | USD 123.02 M |
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Related news about Baker Hughes
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Frequently Asked Questions about Baker Hughes
Baker Hughes was founded in 2001 and raised its 1st funding round 6 years after it was founded.
Baker Hughes is headquartered in Austin, United States. It is registered at Austin, Texas, United States.
Baker Hughes is a funded company, having raised a total of $19.64M across 9 funding rounds to date. The company's 1st funding round was a Seed of $1.2M, raised on Nov 2007.
A wide range of digital and energy solutions are offered by Baker Hughes. Services include advanced digital tools for turbomachinery and industrial applications. Energy transition technologies are developed to support net-zero goals. Solutions for carbon capture, utilization, and storage are integrated for emissions management. Operations span across oil and gas, industrial technology, and environmental sectors. Expertise is applied to enhance efficiency and reduce environmental impact. Comprehensive support is extended through remote operations and advisory services.
Baker Hughes offers Advanced Digital Services, Energy Transition Solutions, and Carbon Capture, Utilization, and Storage (CCUS).
Baker Hughes has 8 investors. Key investors include Chevron, Baker Hughes, LiveOak, Chevron Technology Ventures, and Austin Ventures.
Baker Hughes operates through Baker Hughes Company.
Yes. Baker Hughes was acquired by Baker Hughes in May 2022.