Trending...
- Colorado: Governor Polis: Congressional Republicans Causing Devastating, Negative Impact From Passing One Big Budget-Busting Bureaucracy-Building Act
- Colorado: Hickenlooper, Polis, DeGette, Neguse, Crow, Pettersen Denounce Republicans' Reckless Budget Bill, Pressure House Members to Vote Against It
- The AML Shop Launches New Financial Investigations Unit, Appoints Director to Lead the Initiative
DENVER--(BUSINESS WIRE)--Altira Group LLC, ("Altira") an energy technology-focused venture capital firm headquartered in Denver, today announced the sale of its Houston-based portfolio company ThoughtTrace, Inc. ("ThoughtTrace") to Thomson Reuters (NYSE: TRI), a leader in business information services and content-driven technology. Terms of the transaction were not disclosed.
ThoughtTrace's proprietary AI-based software platform, originally developed to interpret complex oil and gas contracts, uses artificial intelligence and machine learning to read thousands of words at once and extract valuable insight from unstructured data buried in large volumes of complex contractual documents. ThoughtTrace can take thousands of document pages, automatically read them, and accurately interpret paragraph-level meaning at a fraction of the time and with higher accuracy than a human. The ThoughtTrace platform allows users to pinpoint specific obligations and considerations across thousands of documents in minutes.
"I want to congratulate ThoughtTrace CEO Nick Vandivere and his talented team for elevating their innovative AI software into an extremely valuable multi-industry platform that provides indispensable business intelligence to users across the economy," said Sean Ebert, partner at Altira and a member of the ThoughtTrace board of directors.
More on Colorado Desk
"Our oil and gas limited partners played a key role in ThoughtTrace's lifecycle, from due diligence support, rapid adoption of the company's AI solutions, to providing unique customer input during product development cycles," Ebert said. "In exchange, our oil and gas partners gained competitive advantage and tangible value capture from being ahead of broader market technology adoption as well as an above market return on capital deployed."
"Altira continues to seek innovators with advantaged technologies and business models that are proven to provide a sustainable competitive advantage to companies in the energy and industrial sectors," said Altira Principal J.P. Bauman. "Our model enables our portfolio companies to have unique customer access to our oil and gas operating partners, which de-risks and accelerates the entire technology company lifecycle."
Cooley and Kastner Gravelle served as legal counsel for Altira Group and ThoughtTrace, respectively, for this transaction.
About Altira Group
Altira is a Denver-based tenured venture capital firm that has been investing in next generation technology companies in the energy space since 1996. We partner with a select group of super-independent U.S oil and gas companies who invest in our fund and compress our portfolio companies' adoption cycles. For further information please visit altiragroup.com.
More on Colorado Desk
About ThoughtTrace
Originally released in 2017 to help energy companies and legal professionals uncover decision-critical information within complex land and lease contracts, ThoughtTrace, Inc. has evolved its proprietary software into a multi-discipline platform which is pre-built for specific industries and use cases, including financial services, technology, healthcare, energy and law. Leveraging AI as a complement to human expertise, ThoughtTrace identifies critical information in seconds, saving the time and resources previously required to manually search through vast quantities of data. Prior to its sale to Thomson Reuters, ThoughtTrace, Inc. was backed by the Altira Group. For additional information please visit ThoughtTrace.com.
Contacts
Media contact:
Bevo Beaven
TEN|10 Group, LLC
720.666.5064 m
bevo.beaven@ten10group.com
ThoughtTrace's proprietary AI-based software platform, originally developed to interpret complex oil and gas contracts, uses artificial intelligence and machine learning to read thousands of words at once and extract valuable insight from unstructured data buried in large volumes of complex contractual documents. ThoughtTrace can take thousands of document pages, automatically read them, and accurately interpret paragraph-level meaning at a fraction of the time and with higher accuracy than a human. The ThoughtTrace platform allows users to pinpoint specific obligations and considerations across thousands of documents in minutes.
"I want to congratulate ThoughtTrace CEO Nick Vandivere and his talented team for elevating their innovative AI software into an extremely valuable multi-industry platform that provides indispensable business intelligence to users across the economy," said Sean Ebert, partner at Altira and a member of the ThoughtTrace board of directors.
More on Colorado Desk
- $14M Expansion Deal with Famed David Lloyd Highlights Rebrand of Sports, Entertainment and Gaming Innovation by AI Driven, Online Fan Engagement Co
- Heartfelt Dreams Foundation Launches Campaign to Build CHD Hospital
- Radarsign Tackles Intersection Safety with Launch of Grid-Free Solar LED Stop Sign
- Don't Let Roaches Take Over: Why Cockroaches Are Thriving in Denver Homes
- Miami Real Estate Agent Drastically Increases Interest In Homes
"Our oil and gas limited partners played a key role in ThoughtTrace's lifecycle, from due diligence support, rapid adoption of the company's AI solutions, to providing unique customer input during product development cycles," Ebert said. "In exchange, our oil and gas partners gained competitive advantage and tangible value capture from being ahead of broader market technology adoption as well as an above market return on capital deployed."
"Altira continues to seek innovators with advantaged technologies and business models that are proven to provide a sustainable competitive advantage to companies in the energy and industrial sectors," said Altira Principal J.P. Bauman. "Our model enables our portfolio companies to have unique customer access to our oil and gas operating partners, which de-risks and accelerates the entire technology company lifecycle."
Cooley and Kastner Gravelle served as legal counsel for Altira Group and ThoughtTrace, respectively, for this transaction.
About Altira Group
Altira is a Denver-based tenured venture capital firm that has been investing in next generation technology companies in the energy space since 1996. We partner with a select group of super-independent U.S oil and gas companies who invest in our fund and compress our portfolio companies' adoption cycles. For further information please visit altiragroup.com.
More on Colorado Desk
- Adostics & Genmega Announce the Introduction of A-POD
- LIB and Nidec Rejoin Forces for Giant TH-0098 Temperature Humidity Test Chamber
- City Council invites community engagement: Volunteer for Colorado Springs Boards, Commissions, and Committees
- Colorado Springs: Summer Sunrise Openings on Pikes Peak – America's Mountain
- Colorado Springs: Phil Long Dealerships donates $10,000 to City's Keep It Clean COS initiative
About ThoughtTrace
Originally released in 2017 to help energy companies and legal professionals uncover decision-critical information within complex land and lease contracts, ThoughtTrace, Inc. has evolved its proprietary software into a multi-discipline platform which is pre-built for specific industries and use cases, including financial services, technology, healthcare, energy and law. Leveraging AI as a complement to human expertise, ThoughtTrace identifies critical information in seconds, saving the time and resources previously required to manually search through vast quantities of data. Prior to its sale to Thomson Reuters, ThoughtTrace, Inc. was backed by the Altira Group. For additional information please visit ThoughtTrace.com.
Contacts
Media contact:
Bevo Beaven
TEN|10 Group, LLC
720.666.5064 m
bevo.beaven@ten10group.com
Filed Under: Business
0 Comments
Latest on Colorado Desk
- Colorado: Governor Polis: With New Tariffs, Trump Raises Costs for Americans, Hurts Allies
- Colorado Sending Support to Texas Following Devastating Floods
- Metamora Film Festival 2026 Announces Campus Edition at Pueblo Community College
- Jason Koch: Pioneering the Future of Real Estate Development in New Jersey
- Bach and Beyond: Cellists Return to the Beach for 2nd Annual Bethany Beach Cellofest
- May 2025: Colorado Springs Airport Monthly Traffic Report
- Colorado: Governor Polis Continues Fighting to Break Down Barriers to New Housing Coloradans Can Afford
- NR7 Miner launches zero-cost USDT cloud mining service: daily stable income + referral rewards for double profit
- Deaths Spur Closures, but Troubled Teen Camps Must Be Banned, CCHR Warns
- Palmer Lake Wine Festival To Build Bridges in Small Mountain Community, Highlight Local Businesses
- Beyond Paint: Discover Denver's Secret to Effortless Home Transformation and Lasting Value with Expert Craftsmanship
- Top Rated Painting Services In Sunnyside Denver CO
- Local Interior House Painter in Denver, CO
- SacraPod Suites Unveils AI-Powered 'Work + Rest' Smart Hospitality Model for Retrofitting Underused Motels Across the U.S
- Top Rated Painting Services In Berkeley Lake Park Denver, CO
- From Real Estate to Reel Power: H.L Woods Carves His Legacy as a Cutting-Edge Visionary Filmmaker
- New Release: 'The Invisible Alternative' Unveiled by Atrisk Corporation, Resilient
- Colorado: Governor Polis Appoints Eang M. Man to the Boulder County Court
- Governor Polis Appoints Coloradans to Colorado Parks and Wildlife Commission
- Colorado: Hickenlooper, Polis, DeGette, Neguse, Crow, Pettersen Denounce Republicans' Reckless Budget Bill, Pressure House Members to Vote Against It