AUSTIN, Texas (July 12, 2023) — Enverus, the most trusted energy-dedicated SaaS company, announced today that it has surpassed $500 million in annual recurring revenue (ARR). The company’s added growth in new business derived from power and renewables, energy transition research, and ESG solutions has combined with the standout growth in its market-leading products, services and consulting in oil and natural gas to power beyond this momentous milestone.
Enverus offers real-time access to analytics, insights and benchmark data sourced from relationships with 98% of U.S. energy producers and more than 40,000 suppliers. Its solutions create intelligent connections that drive more efficient production and distribution, capital allocation, renewable energy development, investment and sourcing, while their experienced industry experts support customers through thought leadership, consulting and technology innovations to more than 6,000 customers in 50 countries. Enverus is trusted across the entire energy ecosystem — from renewables to oil and gas, financial institutions, and power and utilities.
“Enverus has become the most widely adopted platform in the industry thanks to our focus on being a single source of truth in energy,” said Jeff Hughes, CEO of Enverus. “With the support of Hellman & Friedman and Genstar’s experience and resources, we have accelerated our growth to new heights. Together, we are driving continued innovation to help our customers make intelligent connections, using predictive analytics, artificial intelligence and machine-learning capabilities, while expanding into renewable energy, power and ESG capabilities. Enverus will remain fuel-source agnostic and continue to take a long-term approach with our customers, looking ahead to address future challenges together.”
Hellman & Friedman (“H&F”), a premier global private equity firm, acquired a majority stake of Enverus from Genstar in June 2021. Genstar still remains a significant shareholder. Since the transaction, Enverus has seen more than 77% growth in its power and renewables offerings and 31% in new products such as Enverus Fusion® Connect.
Enverus was founded in 1999, when the industry was on the brink of a digital revolution. As a groundbreaking provider of reliable oil and gas data, Enverus powered that revolution. Since then, it has grown exponentially through product innovation, market expansion and acquisitions. The company is headquartered in Austin, Texas, and has offices throughout North America, and in Europe and Asia.
Enverus is the most trusted, energy-dedicated SaaS platform, offering real-time access to analytics, insights and benchmark cost and revenue data sourced from our partnerships to 98% of U.S. energy producers, and more than 40,000 suppliers. Our platform, with intelligent connections, drives more efficient production and distribution, capital allocation, renewable energy development, investment and sourcing, and our experienced industry experts support our customers through thought leadership, consulting and technology innovations. We provide intelligence across the energy ecosystem: renewables, oil and gas, financial institutions, and power and utilities, with more than 6,000 customers in 50 countries. Learn more at Enverus.com.
About Hellman & Friedman
Hellman & Friedman is a preeminent global private equity firm with a distinctive investment approach focused on a limited number of large-scale equity investments in high quality growth businesses. H&F seeks to partner with world-class management teams where its deep sector expertise, long-term orientation and collaborative partnership approach enable companies to flourish. H&F targets outstanding businesses in select sectors including software & technology, financial services, healthcare, consumer & retail, and other business services.
Since its founding in 1984, H&F has invested in over 100 companies. The firm is currently investing its tenth fund, with $24.4 billion of committed capital, and has over $85 billion in assets under management as of December 31, 2022. Learn more about H&F’s defining investment philosophy and approach to sustainable outcomes at www.hf.com.
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high-quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Together with Genstar XI and all active funds, Genstar currently has approximately $49 billion of assets under management and targets investments focused on targeted segments of the financial services, healthcare, industrials, and software industries.