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Austin, Texas, United States
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
In 2021, Novi Labs's revenue reached $918K. Since its launch in 2014, Novi Labs has shown consistent revenue growth.
Novi Labs reached a $2.8M valuation in 2025, set during its M&A Offer round.
| Year | Round | Amount | Valuation | % Sold | Source |
|---|---|---|---|---|---|
| 2025 | M&A Offer | - | $2.8M | - |
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.
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We do not have customer count information for Novi Labs yet.
Novi Labs employs approximately 23 people as of 2026, including 18 sales reps that carry a quota.
Novi Labs generates $918K in revenue.
Novi Labs was founded by Scott Sherwood.
The CEO of Novi Labs is Scott Sherwood.
Novi Labs raised $0.
Novi Labs has 23 employees.
Novi Labs is headquartered in Austin, Texas, United States.
Novi Labs operates across multiple industries. Browse revenue, funding, and growth data for Novi Labs in each sector below.
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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Valuation
$2.8M
2021 Revenue
$918K
Funding
$0
Team
23
Founded
2014
| Year | Milestone | Source |
|---|---|---|
| 2021 | Novi Labs Hit $918k revenue in April 2021 | |
| 2014 | Launched with $0 revenue |
| Year | Milestone | Source |
|---|---|---|
| 2021 | Reached 23 employees (April 2021) |
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