RigUp was founded in 2014 by Xuan Yong and Mike Witte. The company has not officially endorsed a plan to participate in an IPO.
RigUp is an Austin-based workforce management and hiring platform that specializes on energy sector workers. The company has raised over $450 million in Venture Capital funding from investors including 137 Ventures, Andreessen Horowitz, Brookfield Growth Partners, Green Bay Ventures, Greenspring Associates, Bedrock, FJ Labs, Frees Fund, BoxGroup, Capital Factory, and Founders Fund. Per company press releases, RigUp last raised $300 million in October 2019 at a post-money valuation of nearly $2 billion.