Novi Labs
Austin, Texas, United States
Valuation
$2.8M
2021 Revenue
$918K
Funding
$0
Team
23
Founded
2014
How Novi Labs CEO Scott Sherwood grew to $918K revenue with a 23 person team in 2021.
Developer of a cloud-based software platform designed to optimize shale asset field development decisions in the oil and gas industry. The company's software leverages machine learning technologies for combining high-performance cloud computing resources with open source algorithms to evaluate large and heterogeneous data sets and discover hidden insights, enabling oil and gas companies to drive efficiency in planning workflows and optimize the economic value of drilling programs.
Last updated
Novi Labs Revenue
In 2021, Novi Labs's revenue reached $918K. Since its launch in 2014, Novi Labs has shown consistent revenue growth.
| Year | Milestone | Quote |
|---|---|---|
| 2021 | Novi Labs Hit $918k revenue in April 2021 | |
| 2014 | Launched with $0 revenue |
Novi Labs Valuation, Funding Rounds
Novi Labs's most recent disclosed valuation is $2.8M.
| Year | Round | Amount | Valuation | % Sold | Quote |
|---|
Founder / CEO
Scott Sherwood
CEO
Scott Sherwood’s career spans more than twenty years in sales, management and consulting. He is CEO of Novi Labs, LLC, an Austin technology startup that combines artificial intelligence with oil and gas analytics to plan unconventional wells and optimize financial returns. Prior to Novi, Sherwood served as CEO at Packet Design and led sales at Cache IQ, a network-based caching company that was acquired by NetApp in 2012. Before that, he led all aspects of global sales and business development for ScienceLogic, a leading operations and cloud management company. Earlier in his career, Sherwood was Senior Vice President of Worldwide Sales at NetQoS, where he helped the company acquire a "who's who" of Global 2000 customers including half of the Fortune 50, grow revenues from $200,000 to $56 million at a 50% CAGR, and deliver 31 consecutive quarters of double digit revenue growth. He earned a degree in Information Systems from James Madison University College of Business.
Q&A
| Question | Answer |
|---|---|
| What's your age? | - |
| Favorite online tool? | - |
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| Favorite CEO? | - |
| Advice for 20 year old self | - |
Customers
We do not have customer count information for Novi Labs yet.
Novi Labs Employees & Team Size
Novi Labs employs approximately 23 people as of 2026, including 18 sales reps that carry a quota.
| Year | Milestone |
|---|---|
| 2021 | Reached 23 employees (April 2021) |
Frequently Asked Questions about Novi Labs
What is Novi Labs's revenue?
Novi Labs generates $918K in revenue.
Who founded Novi Labs?
Novi Labs was founded by Scott Sherwood.
Who is the CEO of Novi Labs?
The CEO of Novi Labs is Scott Sherwood.
How much funding does Novi Labs have?
Novi Labs raised $0.
How many employees does Novi Labs have?
Novi Labs has 23 employees.
Where is Novi Labs headquarters?
Novi Labs is headquartered in Austin, Texas, United States.
Compare Novi Labs to the industry
Novi Labs operates across multiple industries. Browse revenue, funding, and growth data for Novi Labs in each sector below.
Data and Sources
All figures on this page are taken directly from interviews or are estimates from public sources and proprietary models. Not financial advice. Read full disclaimer.
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