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GoExpedi, a Houston-based supply chain company for the oil-and-gas sector that's aiming to be "Amazon for the energy industry" has raised $8 million in Series A funding.

Why it matters: The e-commerce company for maintenance, repair and operations — and their new cash — is a sign of how business practices in the booming shale sector are evolving as U.S. production surges.

Details: Crosslink Capital, alongside Bowery Capital, Blue Bear Capital, Hack VC, and SaaS Ventures led the funding round.

  • It comes after a smaller seed round last July for the company, which started 2 years ago and now has roughly 20 customers including a major drilling contractor.

What's next: In addition to expanding its business, the company says the money will allow it to enhance its platform and analytics abilities by "creating a real time dashboard to do predictive work in addition to reactive maintenance."

  • While the company's business is now largely focused on the shale patch, CEO Tim Neal told Axios they're looking to expand in multiple directions — geographically and to other sectors like wind.

What they're saying: “The energy logistics industry is a $1.7 trillion market worldwide, yet still operates from old school catalogues and phone orders,” Crosslink partner Matt Bigge said in a statement. He said GoExpedi's tech and expertise can help modernize the sector.

Go deeper

28 mins ago - Technology

Facebook Oversight Board overturns 4 of its 5 first cases

Illustration: Aïda Amer/Axios

Facebook's independent Oversight Board published its first set of decisions Thursday, overturning 4 of the 5 cases it chose to review out of 20,000 cases submitted.

Why it matters: The decision to go against Facebook's conclusions in 4 out of 5 instances gives legitimacy to the Board, which is funded via a $130 million grant from Facebook.

New York AG: State severely undercounted COVID nursing home deaths

Gov. Andrew Cuomo. Photo: Lev Radin/Pacific Press/LightRocket via Getty Images

Data from New York's public health department undercounted COVID-19-related deaths in nursing homes by as much as 50%, according to a report released Thursday by state Attorney General Letitia James.

The big picture: Gov. Andrew Cuomo's administration did not include nursing home patients who died after being transferred to the hospital in its tally of over 8,500 nursing home deaths, according to the report. Data provided to the attorney general's office from 62 nursing homes "shows a significantly higher number of resident COVID-19 deaths can be identified than is reflected" in the official count.

Trading platforms curb trading on high-flying Reddit stocks

Major trading platforms including Robinhood, TDAmeritrade and Interactive Brokers are restricting — or cutting off entirely — trading on high-flying stocks like GameStop and AMC Entertainment.

Why it matters: It limits access to the traders that have contributed to the wild Reddit-driven activity of the past few days — a phenomenon that has gripped Wall Street and the country.