The Colorado Office of Economic Development and International Trade (OEDIT) announced more than $3 million in grants to 15 Colorado companies, including $250,000 to Well Data Labs, Inc. The non-dilutive grant will support Well Data Labs’ growth as a SaaS solution supporting the oil and gas industry.
“This Advanced Industries Accelerator Grant offers us an opportunity to further scale Well Data Labs and position our product as a leader in oil and gas analytics software,” said Josh Churlik, Well Data Labs’ co-founder and CEO.
Since the beginning of 2017, Well Data Labs tripled its customer base, added seven new employees, and expanded into a new 2,800-square-foot office in Lower Downtown. The grant proceeds will allow Well Data Labs to further expand its sales, marketing and research/development teams and enhance the product with several bolt-on projects.
The OEDIT’s Advanced Industries Accelerator Grant Program focuses on proof-of-concept and early stage capital grants to drive innovation, accelerate commercialization and encourage public-private partnerships.