Calgary drilling software receives US$2.8M investment

Plus, UCalgary makes a play for quantum leadership.

Author

Emily Edwards
April 13, 2025

Welcome to this week's Sunday Briefing. Last week, we quizzed you on which fast food restaurant was supporting entrepreneurs with a $300,000 cash grant. Thirty-eight percent of you guessed right: it’s Pizza Hut.

In this issue, learn about:

  • AIMCo’s 2024 return

  • An Inventures pre-party

  • Software tester training for Indigenous learners

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The leadership team at PrePad. Photo: PrePad

Calgary drilling software receives US$2.8M investment

Calgary’s PrePad, a drilling software provider, announced the close of its US$2.8 million seed round. The company says the investment will be used to continue the expansion of its U.S. team to support direct sales and customer success initiatives.

Founded in 2021 by former Shell employees Sean Hervo and Brandon Eidson, PrePad develops cloud-based software intended to optimize drilling and completions through capital lifecycle management, execution optimization, and asset development strategies. Its platform is designed to maximize profitability by enabling users to analyze cost, time, and production interdependencies.

"As we enter our growth phase, PrePad's product roadmap remains laser-focused on building software with the best balance of sophistication and simplicity and delivering value-maximizing solutions that address the evolving challenges of the energy industry," said Eidson, who is also the company’s president and chief product officer.

"Almost daily we hear from clients how PrePad has helped them streamline a workflow, optimize a design, or settle a debate. We look forward to accelerating that with new clients and partners as we further refine and scale our offerings."

PrePad says that its revenue is generated primarily from customer subscriptions and points to tech adoption from companies including Chevron, Devon Energy, Coterra Energy, Shell Canada, Birchcliff Energy, and Teine Energy as a measure of its success.

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🤝 Funding, Deals, and Partnerships

  • AIMCo achieves 12.3% return in 2024. The Alberta pension manager, with assets rising to $127.7 billion by the end of the year, endured a leadership change forced by the provincial government last November. CIO

  • PlasCred Circular Innovations announces Alberta Innovates funding grant. The $500,000 in funding will be used to support continued research and development aimed at enhancing the quality and consistency of its Renewable Green Condensate. PlasCred Circular Innovations

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📰 Need To Know

  • Startup scene heats up with Inventures 2025 pre-party at Platform. Organizers say the event is designed to spark connections and collaborations ahead of the main conference. Calgary.Tech

  • UCalgary startup QTi is helping build the quantum internet. QTi is currently raising $4 million in investment to advance efforts to build the first commercial quantum repeater, continuing its existing success in developing advanced quantum encryption devices. University of Calgary

  • Plato to deliver software tester training in Vancouver and Calgary. Recruitment is now underway for the upcoming training, which will equip Indigenous participants with the skills and experience needed to thrive in the field of software testing. Plato

  • UCalgary program boosts underrepresented STEM professionals. Giving Day donations to WISE Planet enable access to learning opportunities. University of Calgary

SPONSORED BY CORE SHOPPING CENTRE

Celebrate Earth Week at the CORE! April 8-18 featuring Golden Acre and EcoLogic Horticulture pop-ups. Explore a selection of plants, build terrariums, and get free native Alberta seeds. Don't miss this eco-friendly celebration!

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