Data Gumbo Corporation
The trusted transactional blockchain network to automate contract execution for tomorrow’s leaders.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
| investor investor investor | €0.0 | round | |
| investor investor investor | €0.0 Valuation: €0.0 | round | |
| investor investor investor | €0.0 | round | |
* | $4.0m Valuation: $38.5m | Series C | |
| Total Funding | 000k | ||
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Data Gumbo Corporation, founded in 2016 by Andrew Bruce, is a Houston-based company providing a smart contract network for industrial sectors. The founder's journey began after he identified significant cost inefficiencies in the oil and gas industry, stemming from manual processes and a lack of trust between commercial partners. Leveraging his extensive background as a serial entrepreneur and executive roles at MHWirth and National Oilwell Varco, where he developed a semi-autonomous drilling system, Bruce established Data Gumbo to automate contract execution.
The company's core offering is GumboNet™, a Blockchain-as-a-Service (BaaS) platform that allows global industrial enterprises to create and execute automated, data-driven smart contracts. This private, permissioned blockchain network uses real-time operational data, often from IoT sensors, to verify transactions, thereby eliminating disputes and the need for manual invoice reconciliation. The platform is designed to serve heavy asset industries, including oil and gas, supply chain and logistics, construction, and manufacturing. Revenue is generated through a usage-based subscription model, with pricing typically set at 1% per transaction or a monthly minimum.
GumboNet aims to reduce transactional friction and provide certainty for complex commercial relationships. It synchronizes data across all counterparties on an immutable ledger, which enhances transparency and frees up working capital by shortening payment cycles. In addition to its primary function, Data Gumbo offers GumboNet ESG, a solution that automates sustainability reporting by tying a company's operational data to Environmental, Social, and Governance (ESG) standards, leveraging the Sustainability Accounting Standards Board (SASB) framework. The company has successfully raised $18.8 million over six funding rounds, with notable investors including Equinor Ventures and Saudi Aramco Energy Ventures. These funds are aimed at expanding the company's footprint, particularly in the Middle East, and scaling the platform to meet growing demand.
Keywords: smart contracts, blockchain-as-a-service, industrial blockchain, contract automation, supply chain management, oil & gas technology, transactional certainty, ESG reporting, IoT data, asset management