Investment to revolutionize collaboration and decision making in the oilfield

Energy Ventures III LP has announced its involvement as the lead investor in the first round of external funding for mobile technology company Reality Mobile. The company is joined by CTTV Investments LLC, the venture capital arm of Chevron Technology Ventures LLC, and communications investor the Dobson Partnership in providing a total of $6.5 million in funding that will introduce Reality Mobile’s dynamic communications and situational awareness technology to the energy industry and support expansion in existing markets.

Founded in 2003, Reality Mobile has already made its mark in the defense and government sectors by developing and commercializing RealityVision®. RealityVision is an enterprise-grade software platform that uses existing infrastructure and commercially available smart phones to allow users to share real-time video and dynamic data with colleagues located any where in the world. Building on its success supporting law enforcement agencies during high profile events including President Obama’s inauguration and Super Bowl XL, Reality Mobile is now positioned to bring these unprecedented capabilities to oil and gas companies.

“Imagine being able to instantly connect the right expert in your home office with an engineer in the Gulf of Mexico, and enabling them to see exactly what the other is seeing on the platform or in the data on their computer monitor. The savings in terms of time, travel and reduced downtime are virtually limitless,” said Leif André Skare, partner with Energy Ventures. “Reality Mobile’s seasoned management team, its strong track record and the sheer promise of its technology will pave the way for the company’s success in energy.”

Energy Ventures’ extensive experience in oil and gas allowed the firm to quickly recognize Reality Mobile’s potential and uncover a niche for the technology within the energy market. The firm’s involvement promises to provide a platform for Reality Mobile to introduce its technology to key industry players and demonstrate its ability to maximize operational efficiency and enhance personnel security through available real-time video, GPS tracking and data monitoring processes.

“We are very enthusiastic about Energy Ventures’ interest and involvement in Reality Mobile,” said Patrick McVeigh, chairman of Reality Mobile. “Their skillful insight and proven track record in the oil and gas industry will be a valuable asset as we make efforts to successfully leverage our technology in this new market.”

Link to The Washington Post: "Tech Firm Gets $6.5M Infusion"

Link to Washington Business Journal: "Reality Mobile nets $6.5M investment"

Link to Financial Times Energy Source: "As finding resources means more remote locations, technology is key"