When was Reelwell founded?

Reelwell was founded in 2004 and raised its 1st funding round 6 years after it was founded.

Where is Reelwell located?

Reelwell is headquartered in Stavanger, Norway. It is registered at Vingvegen 1, 4050, SOLA.

How many employees does Reelwell have?

As of Jun 30, 2026, the latest employee count at Reelwell is 34.

Is Reelwell a funded company?

Reelwell is a funded company, having raised a total of $12.2M across 4 funding rounds to date. The company's 1st funding round was a $***** Series A round, raised on Apr 29, 2010.

When was the latest funding round of Reelwell?

Reelwell's latest funding was a $***** Series A round on Mar 21, 2025, with participation from 0 investor.

What is the annual revenue of Reelwell?

Annual revenue of Reelwell is between $1M and $10M as on Dec 31, 2024

Where does Reelwell rank among its competitors?

Reelwell ranks 5th amongst 46 active competitors, of which 8 are funded. It stands 3rd in terms of total funding among its competitors. The most recent competitor to raise funding was Reelwell, which secured $3.8M in Mar, 2025.

Who are the top competitors of Reelwell?

Reelwell's top competitors include Nabors, Enhanced Drilling and Sekal. Among them, Reelwell secured the most recent funding round in March, 2025.

Reelwell - 2026 Company Profile, Team, Funding, Competitors & Financials

Company Details

Developer of wired drill pipe technology for land and offshore use. The company focuses on digital telemetry, power delivery, and reliability in downhole drilling. Their technology aims to improve efficiency and reduce well construction costs. The company’s drill pipe has undergone testing to ensure reliability.

Website: www.reelwell.com/
Email ID: *****@reelwell.com
Phone Number: +47 **********
Registered Address: Vingvegen 1, 4050, SOLA

Key Metrics

Founded Year

2004

Location

Stavanger, Norway

Stage

Series A

Total Funding

$12.2M in 4 rounds

Latest Funding Round

Series A, Mar 21, 2025, $*****

Investors

Lime Rock Partners & 3 more

Ranked

5^th among 46 active competitors

Annual Revenue

$1M - $10M as on Dec 31, 2024

Employee Count

34 as on Jun 30, 2026

Similar Companies

Nabors & 42 more

View Reelwell's full profile

Reelwell is associated with 2 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
REELWELL AS CIN: 987264608 , Norway, Active	Sep 08, 2004	-	24 (As on Dec 31, 2024)
Reelwell AS CIN: 987264608 , United States, Active	Oct 10, 2004	$1M - $10M (As on Dec 31, 2024)	14 (As on Dec 31, 2021)	-

Reelwell has raised a total funding of $12.2M over 4 rounds. Its first funding round was on Apr 29, 2010. Reelwell has 4 institutional investors.

Here is the list of recent funding rounds of Reelwell:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Mar 21, 2025	5801367	Series A	5259943	6650678	5466659	7759451
Oct 01, 2022	2614707	Grant (prize money)	4132116	2224631	1141878	Europa
Jun 29, 2022	1238669	Series A	9539658	6200545	4356842	Solix

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View details of Reelwell's funding rounds and investors

Reelwell's Board of Directors

Reelwell's board has 5 active members. Jorgen Peter Rasmussen is part of team and John Laurence Thorogood, Subodh Saxena, Denis Jean Jorgen Viet Jacobsen and Helga Cotgrove are independent board members.

Here is the list of Reelwell's board of directors:

Name	Type	Representing	Status	Duration
qoratvb	Team	-	Current	1y 5m
John Laurence Thorogood	Independent board member	-	Current	-
qvmyrkq	Independent board member	-	Current	5y 7m
lj{vxox	Independent board member	-	Current	9y 9m
uwceshs	Independent board member	-	Current	5y 3m

Reelwell's employee count trend

Reelwell has 34 employees as of Jun 26. Here is Reelwell's employee count trend over the years:

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Top competitors of Reelwell include Nabors, Enhanced Drilling and Sekal. Here is the list of Top 10 competitors of Reelwell, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Nabors 1952, Houston (United States), Public	Provider of cloud and app-based onshore and offshore drilling solutions	-	Omega Advisors, Pamplona Capital Management	64/100
2nd	Enhanced Drilling 1987, Straume (Norway), Acquired	Technology solutions for drilling industry	-	Equinor, Altor Equity Partners & 1 others	55/100
3rd	Sekal 2011, Sandnes (Norway), Acquired	Software solutions for drilling in oil & gas industry	$3.72M	Aramco Ventures, Equinor & 2 others	53/100
4th	Pason 1978, Calgary (Canada), Public	Provider of integrated drilling data solutions	-	-	50/100
5th	Reelwell 2004, Stavanger (Norway), Series A	Developer of wired drill pipe technology for land and offshore use	$12.2M	Lime Rock Partners, Europa & 2 others	40/100
6th	MagVAR 2010, Denver (United States), Acquired	Provider of solutions for well directional drilling	-	-	38/100
7th	Petrolink 1990, Houston (United States), Unfunded	Wellsite data solutions unlocking oilfield data value through analytics and technology	-	-	37/100
8th	Ulterra 2005, Fort Worth (United States), Acquired	Manufacturer of polycrystalline diamond compact drill bits	-	Industrial Innovation Partners, Amberjack Capital	37/100
9th	Verdande Technology 2004, Trondheim (Norway), Series B	Provider of real-time drilling decision support for oil and gas industry	$14.4M	Investinor, ProVenture & 3 others	36/100
10th	Integrity Directional Services 2008, Fort Worth (United States), Series B	Directional and horizontal drilling services and software solutions	$32.3M	Falcon Investment Advisors, Maxim Corporate Partners ... & 1 others	35/100