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§ Private Profile · Houston, TX, USA
Blockchain-as-a-service provider offering industrial smart contract networks for heavy industries, focused on automating data transactions.
Houston, Texas-based Data Gumbo develops GumboNet, a blockchain-powered industrial smart contract network that automates data sharing and financial transactions for heavy industries. Operating on a blockchain-as-a-service business model, the enterprise software platform addresses complex data access challenges and eliminates operational inefficiencies primarily within the global oil and gas sector. The company provides distributed ledger technology to oil supermajors and international industrial partners, drawing on deep sector expertise from executive experience at major corporations like NOV and MHWirth. While specific financial metrics remain undisclosed, the enterprise has completed an initial seed funding round and garnered significant institutional recognition, including being named a finalist in the 2020 Forbes Energy Awards, the 2020 Ernst & Young Entrepreneur of the Year program, and securing a victory at the 2021 ADIPEC Awards. Data Gumbo was founded in 2016 by Andrew Bruce.
Data Gumbo has raised $22.0M across 4 funding rounds.
Data Gumbo has raised $22.0M in total across 4 funding rounds.
Data Gumbo is a Houston-based technology company founded in 2016 that builds GumboNet, a private, permissioned blockchain platform for industrial smart contracts.[1][2][3] It serves global enterprises in sectors like oil and gas, construction, mining, supply chain, logistics, and manufacturing by automating contracts with real-time IoT and API integrations, solving problems such as manual reconciliation, contract leakage, payment delays (reducing from 72 days to 2 days on average), and lack of trust in transactions.[2][3][4] GumboNet delivers transactional certainty through immutable, verifiable data, freeing up working capital, enabling real-time financial management, and providing provenance with speed, accuracy, visibility, and cost savings of 2-10%.[1][2][4] The company has shown growth momentum with $4M in Series C funding co-led by Saudi Aramco Energy Ventures and Equinor Technology Ventures, a Smart Contract Marketplace with over 40 contracts, global customers, and around 50 employees generating $10.5M in revenue.[1]
Data Gumbo was founded in 2016 by former oil and gas executives who experienced workflow bottlenecks from outdated manual processes and distrust in business relationships, leading to wasted time, resources, and money.[3] Frustrated by these inefficiencies crippling industrial growth, they disrupted the industry by creating GumboNet as an enterprise blockchain solution for smart contracts.[1][3] Early traction came from addressing real-world pain points in complex value chains, evolving into an award-winning pioneer with IIoT-integrated blockchain, global partnerships, and a growing team building the world's largest smart contract network.[3][5]
Data Gumbo rides the wave of enterprise blockchain adoption in industrial sectors, where IIoT and digital twins demand real-time, verifiable data amid rising supply chain complexities and sustainability mandates.[4][5] Timing aligns with post-2020 blockchain maturity, energy transition pressures, and investor interest from majors like Aramco and Equinor, fueling its Series C growth.[1] Market forces favoring it include manual process inefficiencies costing industries billions, regulatory pushes for transparency, and the shift to automated, data-driven transactions in volatile sectors like energy.[2][3] It influences the ecosystem by pioneering industrial smart contracts, enabling networks of suppliers/partners to transact efficiently and setting standards for transactional certainty in B2B relationships.[3][4]
Data Gumbo is poised to expand GumboNet as the dominant industrial blockchain platform, scaling its Marketplace, IoT integrations, and sustainability tools amid global digitization of supply chains.[1][4] Trends like AI-blockchain convergence, stricter ESG reporting, and energy sector decentralization will accelerate adoption, potentially driving further funding and partnerships with more majors.[3] Its influence may evolve from niche disruptor to ecosystem standard-setter, delivering compounding efficiency gains for enterprises—echoing its founding mission to eliminate transactional friction and unlock industrial growth.[3]
Data Gumbo has raised $22.0M across 4 funding rounds. Most recently, it raised $4.0M Series C in August 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Aug 1, 2022 | $4M Series C | Saudi Aramco Energy Ventures, Gareth Burns | L37 Ventures, Prosperity7 Ventures | Announced |
| Aug 1, 2021 | $8M Series B | Gareth Burns | L37 Ventures, Prosperity7 Ventures, Saudi Aramco Energy Ventures | Announced |
| Sep 1, 2020 | $4M Series B | L37 Ventures | Prosperity7 Ventures, Saudi Aramco Energy Ventures, Gareth Burns | Announced |
| May 1, 2019 | $6M Series A | Saudi Aramco Energy Ventures, Rannfrid Skjervold | L37 Ventures, Prosperity7 Ventures | Announced |
Data Gumbo has raised $22.0M in total across 4 funding rounds.
Data Gumbo's investors include Saudi Aramco Energy Ventures, Gareth Burns, L37 Ventures, Prosperity7 Ventures, Rannfrid Skjervold.