About Octio
Octio is a company based in Bergen (Norway) founded in 2007 by Magne Oldervoll and Leon Lovheim, and was acquired by Reach Subsea in March 2022. Real-time geophysical monitoring solutions for subsurface activities are provided. Its chief executive, as recorded, is Bjarte Fageraas.
Company details
Octio was founded in 2007 and is based in Bergen, Norway. Services in the geophysical monitoring sector are offered, focusing on real-time data for well drilling, seafloor subsidence, and injection integrity. Gravimetry and advanced software are utilized for 4D gravity monitoring and subsurface imaging. These tools support hydrocarbon recovery optimization and geosteering accuracy in subsurface operations across various locations.
- Headquarters Bergen, Norway
- Founders Magne Oldervoll, Leon Lovheim
- Stage Acquired
- Email••••••••
- Phone•••• ••••
- Website octio.com
- Social LinkedIn
- Acquired by Reach Subsea (Mar 2022)
- Annual Revenue$86.09 M (USD)33as on Dec 31, 2022
- Net Profit$6.97 M (USD)14as on Dec 31, 2022
- EBITDA$6.65 M (USD)-6as on Dec 31, 2022
- Investors
- Acquired byReach Subsea
(Mar 2022)
Investors in Octio
Octio has secured backing from 1 investor. Prominent investors backing the company include Reach Subsea.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Construction support, surveying, and decommissioning services are provided. | 2008 | reachsubsea.no | Haugesund, Norway |
Investor details for Octio
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- Complete investor list
- Round participation
- Investor portfolios
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People of Octio
3 people are tracked at Octio (3 in leadership).
| Name | Role | Group |
|---|---|---|
Magne Oldervoll | Co-Founder & COO | Leadership |
Leon Lovheim | Co-Founder & CTO | Leadership |
Bjarte Fageraas | CEO | Leadership |
Complete people profiles for Octio
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
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Timeline of Octio
2 dated milestones of Octio across 15 years, from founding to its latest funding, stage changes and deals.
- Founded Octio is founded.
- Exit Acquired by Reach Subsea.
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Frequently Asked Questions about Octio
Octio was founded in 2007.
Octio is headquartered in Bergen, Norway. It is registered at Bergen, Vestland, Norway.
Bjarte Fageraas is the CEO of Octio, as recorded in our data.
Annual revenue of Octio is $86.09M as on Dec 31, 2022.
Octio was founded in 2007 and is based in Bergen, Norway. Services in the geophysical monitoring sector are offered, focusing on real-time data for well drilling, seafloor subsidence, and injection integrity. Gravimetry and advanced software are utilized for 4D gravity monitoring and subsurface imaging. These tools support hydrocarbon recovery optimization and geosteering accuracy in subsurface operations across various locations.
Octio has 1 investor. Key investors include Reach Subsea.
Yes. Octio was acquired by Reach Subsea in March 2022.