“Can a vertical source-to-pay platform become the operating system for energy field operations after retreating from cross-industry expansion?”
Founded 2014 as RigUp, a workforce marketplace for oil & gas contractors. Rebranded to Workrise in 2021 to broaden into renewables and other skilled trades on the back of a $2.9B Series E. After the diversification thesis underperformed, the company rebranded back to RigUp in September 2025 and refocused squarely on being a source-to-pay software + services platform purpose-built for energy. Embedded finance surface is limited to contractor invoicing/payments and W-2 payroll for consultants billing through the platform — not a fintech play.
Workrise's payroll is powered by Paylocity.
Workrise was founded by Xuan Yong and is founded in 2014, headquartered in Austin, TX, USA.
Workrise has raised $750M+ in total (latest round: Series E, 2021; valuation: $2.9B (2021)).
Workrise's acquisitions include Codeco-Vanoco Engineering.
Get a read on where your own stack stands against Workrise and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.