Enverus, an Austin, TX-based SaaS company dedicated to the energy sector, has acquired BidOut, a Houston, TX-based provider of an AI-powered procurement platform specializing in requests for anything (RFx). The financial terms of the deal were not disclosed.
This acquisition allows Enverus to expand its offerings by integrating BidOut’s advanced sourcing capabilities into its own platform. The combined solution will enable users to manage the entire procurement process within a single Source-to-Pay platform, enhancing decision-making, reducing costs and time, improving compliance, and optimizing supplier management. This integration is expected to strengthen procurement efficiency and enhance supplier relationships across the energy industry.
Founded in 2020, BidOut has quickly become a key player in the energy sector, offering an AI-driven platform that streamlines the RFx process by directly connecting service providers with buyers. Its innovative technology and customer-centric approach have helped it rapidly expand its customer base.
Enverus, led by CEO Manuj Nikhanj, is a leader in energy-focused SaaS solutions, leveraging generative AI to provide anytime, anywhere access to analytics and insights. The company’s platform includes benchmark cost and revenue data from over 95% of U.S. energy producers and more than 40,000 suppliers. Enverus supports intelligence across the energy ecosystem—renewables, oil and gas, financial institutions, and power and utilities—and serves more than 6,000 customers in 50 countries.
With the acquisition of BidOut, Enverus is poised to further optimize procurement processes and drive innovation in the energy sector.
