relocating

Growing Houston startup moves HQ to Austin

Cart.com's Houston-based execs will stay based in the Bayou City. Photo via cart.com

Houston has lost the headquarters of Cart.com, an e-commerce startup that launched last year and already is poised to go public, to Austin.

The company announced December 9 that it relocated its headquarters to downtown Austin, where it already employs 150 people and plans to hire at least another 150 people within the next 12 months. Cart.com supplies an array of software and services for more than 2,000 online merchants.

Moving the headquarters out of Houston represents something of a change in mindset. During an October interview with InnovationMap’s Houston Innovators Podcast, chief of staff at Cart.com, Remington Tonar, affirmed the startup’s dedication to Houston.

“While many of our founding execs will remain in Houston,” Tonar wrote December 9 on LinkedIn, “our Austin office has become a magnet for top talent and is already home to hundreds of Cart.com employees.”

Aside from Houston and Austin, Cart.com has offices in Dallas, Beaumont, Los Angeles, and San Francisco. It plans to open locations next month in the Netherlands and Poland.

Over the past 12 months, Cart.com has raised $143 million in venture capital, purchased nine companies, opened nine fulfillment centers, and built a workforce of close to 400 people. The company plans to grow its total headcount to about 1,000 by the first quarter of 2022.

“With more and more Silicon Valley tech companies relocating to Texas, and Elon Musk moving Tesla’s HQ to Austin, the ‘Silicon Hills’ area is increasingly seen as the country’s most exciting and fertile space for high-tech innovation,” Cart.com says in a news release.

The move coincides with Cart.com being named Startup of the Year by Capital Factory, an Austin-based startup accelerator that has offices in Houston, Dallas, and San Antonio. Capital Factory is an investor in Cart.com.

By relocating to Austin, Cart.com says it can benefit from being in the same business ecosystem as Austin-based companies like Whole Foods, YETI, Kendra Scott, Tito’s Handmade Vodka, Bumble, and Tecovas.

“We’ll forever call Houston our home, but I’m beyond excited to be opening Cart.com’s corporate headquarters in Austin — not only the country’s top tech town, but also the home to so many of the iconic brands we love,” said Omair Tariq, co-founder and CEO of Cart.com. “Today, the world’s best and brightest engineers, coders, creatives, and tech leaders are flocking to Texas — and Cart.com is part of the reason why. There’s no better place than Austin for a brand-obsessed company like Cart.com to plant its flag as we reimagine e-commerce and drive growth for today’s top merchants.”

For Cart.com, which was founded in September 2020, this has been a whirlwind year. For example:

  • In November, the company hired Frank Parker as chief financial officer. Parker will lead Cart.com’s effort to launch an IPO in the next two years. He had been executive vice president of finance at New Jersey-based Managed Health Care Associates, a provider of health care services and technology.
  • In September, the company tapped sales veteran Randy Ray as chief revenue officer. He was senior vice president of High Jump, a provider of supply chain management software.
  • In August, Cart.com raised $98 million in a Series B round.
  • In May, the company brought aboard Michael Svatek as the company’s first chief product officer. He previously was chief product and strategy officer at Austin-based Bazaarvoice, a provider of social data about shopping behavior.
  • In April, it wrapped up a Series A round of $25 million, preceded by a seed round of $20 million.

Before co-founding Cart.com, Tariq spent about 10 years as an executive — including chief financial officer — at Houston-based Blinds.com, a retailer of window coverings. The Home Depot acquired Blinds.com in 2014. Tariq has been a mentor at Capital Factory since 2019 and an adviser at the Station Houston tech hub since 2018.

“We started Cart.com to put e-commerce brands in charge of their operations,” Tariq said in November, “and to give founders control over every aspect of their business.”

Trending News

Building Houston

 
 

Greentown Houston is asking its current and potential members what they want in a wet lab. Photo via GreentownLabs.com

Greentown Houston has announced it's building a new wet lab facility — but first, they need some help from the community.

Greentown Labs, which is dual located at their headquarters in Somerville, Massachusetts, and in the Ion District in Houston, has announced that they are building out a wet lab in their Midtown space.

"We have heard from several startups as well as corporate partners in the ecosystem that are looking for wet lab space," says Lara Cottingham, vice president of strategy, policy, and climate impact at Greentown Labs. "Greentown has experience running wet labs from our location in Somerville. We're excited to be able to offer wet lab space to climatetech startups as an additional amenity to the Ion District.

Although Greentown's Boston-area location has wet lab space, Cottingham says the organization is not interested in copying and pasting that same facility. Greentown wants to provide the tools that the Houston ecosystem needs, and that requires getting feedback from its current and potential members.

"We want to announce to the community that this is something we're going to build — but we still need a lot of feedback and input from startups so we can learn what exactly they need or want to see from the wet lab," Cottingham tells InnovationMap. "No two wet labs are the same."

Right now, there aren't any details available about timeline or specifics of the new facility. Greentown is prioritizing getting feedback from its members and having conversations with potential sponsors and corporate partners.

"Corporate partners are a big part of the ecosystem and the community at Greentown. They can be so many things to our startups — mentors, customers, investors," Cottingham says. "And in this space, they can help us sponsor and financially support the wet lab. We're still fundraising — we have some partners that have committed to funding, but we're still looking for more funding."

In addition to monetary contribution, Cottingham says they are looking for other options as well, from partnerships with equipment providers, hazardous materials management, and more.

Startups that need wet lab space are encouraged to fill out the online form, which will be open through the summer, and potential corporate partners can express their interest online as well.

Greentown Houston opened its doors in 2021 and has since grown to house more than 75 energy and climatetech startups, as well as several accelerators, thanks to support from dozens of corporate partners.

Trending News