The BIG platform

Fueling a groundbreaking idea during an oil industry slump
Founded: 2014
Website: raptorrig.com
COMPANY PROFILE
Raptor Rig is an oil and gas automation company that builds technology to automate drilling procedures. Their products and services have revolutionized an industry reliant on archaic and often unsafe practices, empowering improved efficiency, employee safety and cost savings.

The challenge

Raptor Rig was sitting on an idea, poised to disrupt the multi-billion dollar oil and gas industry. Their founders had leveraged their combined tech, design and engineering backgrounds to concept the world’s first automated drilling rig. Despite their unrivaled expertise, they were struggling to turn their idea into a business. Namely, they needed funding. But in the midst of an industry-wide economic depression, building confidence in potential investors was an uphill battle. They pulled in BIG for help.

How we tackled it

BIG facilitated a capital infusion that fueled the product development, internal operations and business development Raptor Rig needed to transform from an idea to an industry leader.

BIG WIN: WE NAVIGATED AN ECONOMIC DEPRESSION TO CLOSE 3 ROUNDS OF FUNDING

BIG brought in our partners at Axial Energy Technology, an early-stage venture firm hyper-focused on high-potential oil and gas tech startups. In addition to their initial investment, we led two subsequent rounds of funding – all the while allowing Raptor Rig’s founders to maintain 65% ownership in their compan

BIG WIN: WE BUILT RAPTOR RIG’S INTERNAL INFRASTRUCTURE FROM THE GROUND UP

Getting funding was only the beginning. Raptor Rig needed help building the business around their idea. We used RIPKIT, our our proprietary business acceleration methodology, to set up an internal infrastructure that kept operations working seamlessly in the background while internal teams focused on product building and partnerships.

BIG WIN: WE LED BUSINESS DEVELOPMENT TO LAND KEY PARTNERS

Raptor Rig was built by visionary leaders, but like many founders, they were experts in their product who struggled with sales and storytelling. We crafted a business development narrative, built and managed relationships with key partners and negotiated contracts, all allowing Raptor Rig to stay focused on what they knew best: their product.

Building Impossible

Many companies would forfeit the challenge to build a new business in an economically depressed industry – but BIG saw an opportunity. Today Raptor Rig continues to lead the oil and gas automation space, and are recognized as the innovative team who sparked the advancement of modern drilling practices.