HOUSTON INNOVATORS PODCAST EPISODE 9

Houston blockchain company plans for huge growth — from new offices to new industries

Andrew Bruce talks Data Gumbo expansion on the most recent episode of the Houston Innovators Podcast. Courtesy of Data Gumbo

Andrew Bruce saw that the oil and gas industry had a data problem. If energy companies were ever going to be able to set up autonomous drilling, they needed to integrate data and challenge the commercial model.

On this week's episode of the Houston Innovators Podcast, Bruce, CEO of Data Gumbo Corp., shares how he created a solution to move the needle on streamlining data within industry.

"Data Gumbo was originally founded to solve that integration problem. Take data from different sources, standardize it, clean it up, and make sure only the people who have the authority to get access to the data, can get access to the data," Bruce says on the podcast. "That's why we're called Data Gumbo — take a bunch of data, put it in the pot, stir it up, and make it taste good."

Since its inception in 2016, Bruce has led the company to raise a total of $9.3 million — recently closing a $6 million series A led by Saudi Aramco's venture arm. While that recent pop of investment means expanding to new industries — the company announced its entrance into the construction industry — Bruce says the funds will also take Data Gumbo to new global markets, including the Middle East.

"The whole thing for us is building this blockchain network of interconnected companies," Bruce says. "The more companies that are a part of that network, the more value that network has."

Bruce discusses his planned growth, the origin story of Data Gumbo, and how the Houston innovation ecosystem has helped the company grow in the episode. Listen to it below and subscribe wherever you get your podcasts.

Houston-based Hitched has dug up new investment money from a local private equity firm. Pexels

A Houston startup that acts as a digital marketplace for industrial equipment in the oil and gas and construction industries closed a sizeable series A financing round this month.

Hitched Inc. raised $5.5 million in its series A funding led by Houston-based Cottonwood Venture Partners, a growth equity firm that focuses on digital tech solutions in the energy industry.

"It is encouraging to see the support and excitement from CVP," Hitched's Founder and CEO Adam Gilles says in a press release. "With this Series A funding, we plan to continue to shake things up in the oil & gas, construction, and industrial industries."

The company, which was founded in 2018, coordinates the rentals — from hosting and chartering to managing them — all on one centralized platform. Hitched has a catalogue of equipment from generators and cranes to light towers, pumps to forklifts, and the site lists out the cost per day of each piece of machinery.

According to the release, Hitched will use the fresh funds to advance its product development and customer experience as it continues "to reinvent the industrial rental marketplace."

"We're delighted to partner with the Hitched team. The industrial rental segment is incredibly opaque and riddled with inefficiencies," says Ryan Gurney, managing partner of CVP, in the news release. "The Hitched platform provides both a transparent marketplace and an important management tool that allows both the renter and rentee to optimize rental inventory."