A Perth startup that helps mining companies plan and execute on their exploration and drilling has raised $5 million in a follow-on round.
The raise for CorePlan was led by existing investor EVP. The funds will help expand the global team, product expansion into drilling and geology workflows, scaling regional support and their presence in the Americas, as well as expanding operations in Australia.
CorePlan’s software connects contractors and geology teams into a single system of record for planning, production, compliance, and invoicing in a sector where a fragmented mix of spreadsheets, messages and databases to manage complex operations is still common.
Record gold prices, critical minerals demand, and supply chain issues because of geopolitics have accelerated exploration activity.
BHP a user
Drilling and earthmoving contractors use CorePlan to run their operations and bring mining customers onboard, while mining companies are able to standardise these workflows across multiple contractors. BHP, Fortescue, AngloGold Ashanti and Rio Tinto are among more than 600 companies and 9,000 users of CorePlan with around 300 new users joining the platform monthly. More than $6 billion in drilling and mining works have gone through the platform.
Founder and CEO Alex Goulios said the funding will accelerate CorePlan’s mission to modernise drilling operations globally.
“Our focus has always been on bridging the gap between contractors and mining teams. This investment will allow us to continue to expand our global team, extend our range of services to deliver value to the global mining industry,” he said.
“CorePlan is becoming the operational backbone for the industry by turning manual admin tasks that once took days to minutes. This round validates the impact our team is delivering for our customers.”
EVP Partner Mark Velik said increasing their investment was the result of the startup’s strong execution, global traction and customer outcomes.
“CorePlan stands out as the category-defining platform for mining and drilling operations,” he said.
“Customer advocacy, expansion and enterprise adoption is exceptional and the team has consistently delivered a world-class, mission-critical product.”
