WHEN GPS TRACKERS AND OIL RIGS UNITE
When Chip Davis, a managing partner with Houston Ventures, was intro-
duced to remote-asset-tracking company Geoforce Inc., he says his firm was
compelled to invest.
Founded in 2006, Dallas/Ft. Worth-based Geoforce uses GPS tags to help
oil companies keep tabs on everything from hydraulic fracking tanks to 70
other types of equipment used in drilling. Because the technology relies
on a Web-based platform, customer operations can be managed from anywhere at any time.
“It’s very helpful to know where the equipment is at all times because
the use cycle on [fracking] tanks is short and new jobs pop up all over the
world all the time,” Davis says. “Geoforce helps companies plan their next
Along with Palmetto Ventures, Houston Ventures took a combined growth
equity position in Geoforce at the end of 2013, investing more than $10 million.
Prior to that, Geoforce had relied on seed capital from friends and family.