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ResFrac Receives Platform Investment from Banneker Partners
ResFrac is a leading provider of industrial software to the energy industry
SAN FRANCISCO, -- Banneker Partners ("Banneker") today announced a platform investment in ResFrac Corporation ("ResFrac"), the developer of the industry's only fully integrated reservoir simulation and hydraulic fracturing platform.
ResFrac uniquely couples reservoir simulation and hydraulic fracture modeling, enabling engineers to model a well's entire life cycle, from the moment rock is fractured through years of production, in a single, continuous simulation. This precision allows energy operators to test thousands of design scenarios in a virtual environment, optimizing completion design and maximizing resource recovery while minimizing capital risk.
Trusted by energy operators globally ranging from midsize independents to supermajors and national oil companies, ResFrac is deployed across major unconventional basins globally. The platform is also increasingly adopted for enhanced geothermal systems and conventional-fracturing operations, significantly broadening its addressable market.
"Banneker understands mission-critical software and has a proven track record of helping companies scale while staying true to the technical depth that customers depend on," said Mark McClure, co-founder and CEO of ResFrac. "This partnership positions us to accelerate our road map and bring our simulation capabilities to a much broader market."
"ResFrac has built something truly differentiated - a simulation platform grounded in first-principles physics that has earned the trust of the world's leading energy operators," said Matt McDonald, partner at Banneker. "This is exactly the kind of software platform we look for - providing significant ROI to our customers via a market leading solution, and we are excited to support the next phase of growth and innovation."
Banneker's investment will support continued platform innovation, further expansion into adjacent capabilities, markets and geographies, and the scaling of ResFrac's industry-leading team. Lightning Partners acted as exclusive financial adviser to ResFrac.
About ResFrac
ResFrac Corporation provides the industry's only fully integrated hydraulic fracturing and reservoir simulation platform, purpose-built for the complex challenges of unconventional reservoir development, enhanced geothermal systems and conventional oil and gas. Headquartered in Palo Alto, California, ResFrac is trusted by operators of all sizes across every major unconventional region in North and South America, and a growing number globally. For more information, visit www.resfrac.com.
About Banneker Partners
Banneker Partners invests in growing, mission-critical software businesses to drive sustainable long-term value. Banneker collaborates with management teams through capital, strategic and operational support to enable accelerated growth guided by the focus on enhancing value to the end customers of the software. For more information, visit www.bannekerpartners.com.
About Lightning Partners
Lightning Partners provides objective, high-impact strategic advice on M&A and capital raising to select growth-oriented technology companies. Our years of operating, investing, and transaction experience, combined with our industry knowledge, unrivaled tenacity, and hands-on, highly custom approach, consistently delivers top tier results for our clients. For more information, visit www.lightningpartners.com.
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