Workrise Technologies Inc.

Name

Workrise Technologies Inc.

Legal name

Workrise Technologies Inc.

Website

https://workrise.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Energy Workforce and Vendor Management Software

SIC

Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Production Services & Artificial Lift (ESP, Rod Lift, Gas Lift, Chemicals) (EUALABAH)

Keywords

• Source-to-pay software
• Vendor management
• Workforce staffing
• Energy procurement
• Field services

Headquarters

HQ city

Austin

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Platform/SaaS Subscription: Tiered subscription model with Pro and Enterprise tiers offering different levels of features, support, and service. Pro includes basic platform support while Enterprise includes dedicated expert teams.
2. Managed Vendor Services: Full-service model where Workrise handles onboarding, compliance verification, invoicing, and payments on behalf of clients. Revenue derived from service fees on vendor transactions.
3. Transaction/Processing Fees: Fees associated with vendor payments, invoicing, and transaction processing through the platform

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

RigUp provides a source-to-pay platform built specifically for the energy industry, combining vendor management, workforce staffing, and capital project management. The platform enables oil and gas operators to source, onboard, manage compliance, validate invoices, and pay vendors across 200+ service categories, while also placing skilled workers in field and project roles. The company's offerings are sold as tiered SaaS subscriptions (Pro and Enterprise) plus optional managed services where RigUp handles operations on behalf of operators.

Product overview

RigUp is a full-service execution partner for energy companies offering a unified source-to-pay platform that combines workforce staffing, vendor management, and capital project solutions. The core platform consists of three main pillars: Vendor Management (combining sourcing, onboarding, compliance, payments, and data), Workforce Management (end-to-end from sourcing to payment), and Capital Management (real-time spend visibility). These are supported by modular components including Discovery, Vendor Onboarding, Safety & Compliance, Data & Insights, Invoicing & Payments, Managed Vendor Services, Bid Management, and Field Services. The platform serves both upstream and midstream Oil & Gas operators with specialized solutions. The company recently rebranded from Workrise back to RigUp and acquired Codeco-Vanoco Engineering to expand its engineering and staffing capabilities in Canada.

Differentiator

Problem solved

Functional benefit

Products and services

• RigUp Source-to-Pay Platform A comprehensive source-to-pay solution built for the energy industry that combines workforce staffing, vendor management, and project solutions with technology that delivers complete visibility and control for oil and gas operators.
• Vendor Management (Vendor Solutions) End-to-end vendor management combining sourcing, onboarding, compliance, payments, and data analytics in a single platform designed for Oil & Gas operators.
• Workforce Management End-to-end workforce management solution from sourcing to payment, providing contingent labor solutions powered by a purpose-built platform for energy operators.
• Capital Management Maximizes ROI on capital projects with real-time visibility into spend, providing budget management and cost control capabilities for energy operators.
• Discovery 1.0 AI-powered search feature enabling discovery of vendors and workers across 200+ service categories in Oil & Gas, with details on services, locations, diversity classifications, and safety ratings.
• Vendor Onboarding Streamlined vendor onboarding module that enables operators to bring vendors into compliance with document collection, verification, and approval status tracking.
• Safety & Compliance Compliance management feature that reduces risk by providing clear visibility into the safety and compliance status of all vendors on the platform.
• Bid Management Bidding solution for RFQ management enabling streamlined procurement for both energy operators and their suppliers.
• Field Services (Field Ticket Solutions) Field ticket verification and management solutions for the energy industry, providing digital verification of field work.
• Managed Vendor Services Full-service offering where RigUp manages contracts, compliance, and price negotiations on behalf of operators.
• Midstream Solutions Workforce solutions for midstream operations including inspection, project management, and staffing services.
• Upstream Solutions Contingent workforce solutions tailored specifically for upstream Oil & Gas operators.
• RigUp Mobile App Mobile application for workers and vendors to access work opportunities, submit timesheets, and manage their profiles on the platform.

Quantifiable outcome

• 6x faster vendor onboarding compared to industry average
• +4 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature6 records

Partnerships

Five partnerships are on record, tiered core and minor.

• ShellcoreOEM/ Whitelabel/ Licensing Partner · 1 January 2025Exclusive licensing of Shell's U-lateral drilling technology for energy companies across the US. RigUp serves as the licensing intermediary for this specialized drilling technology.
• Codeco-Vanoco EngineeringcoreStrategic or Co-development Partner · 1 January 2024Acquisition of Calgary-based engineering and staffing firm with nearly 40 years of experience serving the energy industry in Canada. This acquisition expands RigUp's presence and capabilities in the Canadian energy market.
• Lone Star CollegeminorStrategic or Co-development PartnerPartnership to provide free training for students interested in joining the growing solar energy industry. Helps address workforce development in renewable energy sector.
• imawareminorStrategic or Co-development PartnerPartnership with Houston-based digital health organization to create COVID-19 testing and screening solution for energy workers who need to work in the field.
• Parsley EnergyminorStrategic or Co-development PartnerPartnership to roll out comprehensive COVID-19 screening and mitigation program for oil and gas workers.

Scale indicators13 records

Recent moves9 records

Expansion highlights6 records

Emerging players

• FieldEngineer: FieldEngineer runs an on-demand marketplace for freelance engineers and field technicians across telecom, energy, and construction. It is comparable to RigUp's workforce marketplace and discovery functionality.
• Procurify: Procurify offers spend-management and procurement software for mid-market buyers. It overlaps with RigUp's vendor-management vision but does not have the same energy-vertical specialization.

Broad incumbents

• ServiceNow: ServiceNow's workflow and procurement applications extend into supplier lifecycle management. As a platform incumbent, it could broaden into the energy operator workflows RigUp targets.
• SAP Ariba: SAP Ariba is the largest enterprise source-to-pay and supplier-management platform. It competes with RigUp at the procurement layer and could encroach on the energy vertical with industry-specific templates.
• Coupa Software: Coupa offers a broad business spend management platform, including sourcing, invoicing, and supplier management. It is a broad incumbent that overlaps with RigUp's source-to-pay functionality across enterprise buyers.
• Workday: Workday provides enterprise HCM and contingent workforce management. Its workforce offerings compete with RigUp's workforce management and payments capabilities at large enterprises.
• B2W Software (now part of Trimble): Trimble's B2W and construction suite include estimating, field-operations, and vendor workflows for heavy civil and infrastructure contractors. It overlaps with RigUp's field-services and vendor-bid-management modules.

Direct peers

• Avetta: Avetta provides contractor prequalification, compliance, and supply-chain management for energy, construction, and other heavy industries. It is the closest direct competitor to RigUp's vendor-management and compliance workflows serving Oil & Gas operators.
• ISN (ISNetworld): ISN collects and reviews safety, procurement, and compliance information from contractors for energy and industrial clients. Overlaps directly with RigUp's Safety & Compliance and vendor onboarding modules for upstream and midstream operators.

Others

• Bravely: Bravely (and adjacent HR/contractor platforms) provide adjacent people-operations tooling. They are thematically connected to RigUp's workforce network but not direct competitors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/workrise

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Workrise Technologies Inc.