Tulsa-based Well Checked Systems International has secured a $1.4 million Series A round. The investment was led by $300,000 in financing each from the i2E-managed Oklahoma Seed Capital Fund, the OKAngel Sidecar Fund and the SeedStep Angels. The remaining $500,000 was committed by other investors.
i2E, Inc., recently closed on a $1.4 million Series A preferred equity investment in Tulsa-based Well Checked Systems International, LLC. The investment was led by $300,000 in financing each from the i2E-managed Oklahoma Seed Capital Fund, the OKAngel Sidecar Fund and the SeedStep Angels. The remaining $500,000 was committed by other investors.
Founded in 2012, Well Checked Systems specializes in remote oil and gas well site video monitoring, reporting, alerting and video data storage and retrieval through a proprietary, patent-pending, Internet-based software platform.
“The recent investment from i2E will allow Well Checked to continue our growth and expansion in the Midcontinent region by allowing us to obtain, assemble, install and support the required Well Checked Monitoring Systems inventory required to meet the client demands,” said Bob Haefner, Well Checked President.
“The investment also will allow us to expand our marketing and strategic partner initiatives in order to continue to grow Well Checked Monitoring Systems sales opportunities and additional services and revenue streams,” Haefner said.
The Oklahoma Seed Capital Fund is a state-appropriated investment fund through the Oklahoma Center for the Advancement of Science and Technology.
The OKAngel Sidecar Fund is one of three Accelerate Oklahoma! investment vehicles created in 2011 by i2E through a partnership with the Oklahoma Department of Commerce and the U.S. Treasury State Small Business Credit Initiative. The OKAngel Sidecar Fund specifically targets opportunities to invest alongside Oklahoma angel investors.
The SeedStep Angels were founded by i2E in 2009 and is now the state’s largest angel investment groups with over 40 members and chapters in Oklahoma City, Tulsa, Ardmore and Muskogee.
About Well Checked Systems International, LLC
Management: Mike Haines, Co-founder and CEO and Bob Haefner, President
Year Started: 2012
Location: Tulsa, OK
Well Checked Systems addresses the problem of oil and gas well site production, safety and security via remote monitoring through a patent pending proprietary Internet-based software platform. Well site theft exceeds $1 billion annually, and Well Checked solution reduces the expense and personnel costs to monitor well sites, as well as prevents damage and loss of equipment. The surveillance solution is a combination of leading edge hardware, software and telecommunications to provide monitoring capability at a high quality level.
About i2E, Inc.: With offices in Oklahoma City and Tulsa, OK, i2E’s nationally recognized services include business expertise and funding for Oklahoma’s emerging small businesses. i2E has more than $40 million of investment capital under management.