Accenture invests in and partners with Houston-based company
Accenture — through its investment arm, Accenture Ventures — has entered into an alliance with a Houston-based company following an investment.
P97 Networks Inc., a leading cloud-based, mobile commerce company that provides in-vehicle payments and digital marketing solutions for fuel retail and vehicle-manufacturing industries, received an undisclosed amount from Accenture Ventures.
"Accenture's end-to-end digital services make the company an ideal partner for P97," says Donald Frieden, founder and CEO of P97, in a release. "We have a long history of firsts in our markets and look forward to many more working with Accenture — including connected car services, voice-enabled payments, fuel retail innovations and blockchain technology — as we pursue our goal of serving more than half of the U.S. fuel market by 2020."
The alliance establishes Accenture as "a preferred implementation partner," according to the release. Accenture will be able to use P97's PetroZone® platform — that allows users to make digital payments at the pumps, for instance —for solutions for its clients.
"We are tremendously excited about advancing our relationship with P97," says Andrew Smart, a senior managing director at Accenture who leads its energy industry group, in the release. "Working together, we will help our clients take advantage of more connected customer experiences."
P97 was founded in 2012 in Houston. Its patented technology uses Microsoft Azure Cloud Services and has been utilized at over 20,000 retail fuels locations in the United States.