Short stories

Data Gumbo closes $6M round, Alice partners with accelerator, and more Houston innovation news

Blockchain-as-a-service company closes $6 million Series A round. Courtesy of Data Gumbo

Houston's innovation ecosystem has been busy, and the ongoing 50th anniversary of the Offshore Technology Conference has claimed a lot of attention in town lately. While I'm sure you've seen the big news pieces, like the Texas Medical Center's new details about TMC3 or WeWork's third Houston location, you may have missed some of these short stories.

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Data Gumbo closes a $6 million Series A round

Data Gumbo's executive team will use the round of funding to grow its operations. Courtesy of Data Gumbo

Data Gumbo Corp., a Houston-based blockchain-as-a-service company, completed a $6M Series A equity funding round. Saudi Aramco Energy Ventures — the venture subsidiary of Saudi Aramco — and Equinor Technology Ventures —the venture subsidiary of Equinor — co-led the round.

The new capital will be used to grow the company's commercial blockchain network, as well as Data Gumbo's technical, sales and marketing teams at their Houston headquarters and office in Stavanger, Norway. This Series A round brings Data Gumbo's total funding to $9.3 million.

"We enabled the first application of blockchain technology in the offshore drilling industry and will continue to break new ground with applications of BaaS to improve the bottom line of companies of all sizes. Blockchain will have a major impact on the oil and gas industry - and all global industries - and we will lead the charge in its broad adoption for sweeping operational improvements," says Andrew Bruce, CEO of Data Gumbo, in a release. "The partnership with Equinor and Saudi Aramco, and their associated supply chains and partnerships, will provide the momentum for the Data Gumbo BaaS network to gain critical mass." Learn more about Bruce and Data Gumbo here.

Alice and Founder Institute team up

Houston's new Founder Institute chapter has teamed up with Alice. Image courtesy Founder Institute

Pre-seed accelerator, the Founder Institute and Houston-based AI startup resource platform, Alice, announced a partnership to present the "Alice Fellowship" within the Founder Institute Program to help aspiring female founders build impactful and enduring startup companies.

The fellowship allows for female entrepreneurs in the Alice community to apply to the Houston FI program for free, waiving the $50 fee. The best applicants will then be selected to receive the fellowship for free as well. Interested female founders can apply https://fi.co/join/Alice before the application deadline of May 19.

Report shows how Houston fares as a startup city

Houston didn't rank among the best cities for startups — but it didn't make the worst either. Photo by Tim Leviston/Getty Images

Houston performed averagely on a new study from SimpleTexting. The report ranked cities based on their startups' performance — valuation of startups, startup jobs available, number of investors in the region, etc. Here's how Houston ranked. (Note: only the top and bottom 10 cities were ranked, and Houston doesn't appear on any of the top or bottom 10 lists.)

  • Average startup valuation: $4 million (This seems to be about the middle of the pack compared to other cities.)
  • Investor to startup ratio: 2.9 (Houston outranks Austin, which has a 1.5 ratio, in this category but seems to be closer to the bottom than the top.)
  • Startups per 100,000 people: 27.1 (Houston ranks pretty low on the spectrum for this. The 10th worst city is Rochester, New York, which has 17.8.)
  • Startup jobs per 100,000 people: 1.8 (Houston again falls closer to the bottom than the top with this number. The 10th worst city is Tuscon, Arizona, which has 0.88.)

While using different metrics, WalletHub found that Houston is a strong city to start a business. Read that story here.

Clean energy company awarded at EarthX

Trevor Best, CEO of Syzygy Plasmonics, walked away from EarthX $100,000 richer. Photo via LinkedIn

Houston-based Syzygy Plasmonics won $100,000 as one Texas' top CleanTech startup companies at the 2019 EarthX CleanTech Investment Challenge in Dallas. Syzygy is a chemicals startup out of Rice University, and one of their technologies focuses on hydrogen as a fuel option and alternative to gasoline.

TMCx company raises $5.14 million Series A

Philadelphia-based RoundTrip, which is in TMCx's current cohort, closed a hefty Series A round. Photo via roundtriphealth.com

An estimated 3.6 million patients miss or postpone their medical appointments annually, which leads to bigger medical issues that could have been prevented or treated earlier. Philadelphia-based RoundTrip created a platform where patients can book transportation to and from appointments. The startup, which is currently completing TMCx's digital health accelerator program, recently closed its Series A round of $5.14 million led by Motley Fool Ventures.

Houston energy professional publishes female-focused book

The new novel tells the stories of the women within the offshore oil and gas industries. Courtesy of Rebecca Ponton

Rebecca Ponton has published her series of 23 short biographies of women in the offshore oil and gas industry called, Breaking the GAS Ceiling: Women in the Offshore Oil & Gas Industry. Ponton timed the publication ahead of the 2019 Offshore Technology Conference. The book is available on Amazon.

The book features a number of Texas women, including:

  • Marni Zabarsky (MADCON Corp.)
  • Mieko Mahi (freelance petroleum photographer)
  • Alyssa Michalke (previously of TAMKO)
  • Jerry Tardivo Alcoser (works in Chevron's Bakersfield office, but has a home in Houston)
  • Melody Meyer, Katie Mehnert, and Ally Cedeno, who wrote endorsements for the book, live and work in Houston.

Houston O&G consulting company named Great Place to Work

oil and gas

EAG Services received a national recognition for its work environment and employee happiness. Getty Images

Great Place to Work and FORTUNE selected Houston-based EAG Services as one of the 2019 Best Workplaces in Consulting and Professional Services in the small to mid-sized company category. The rankings were based on employees' feedback. EAG Services took the Number 17 spot on the list.

"EAG Services is proud to be recognized by our people for creating one of the best workplaces in the consulting and professional services industry. Our ongoing commitment to keeping culture our priority as well as playing an ever-critical role in hiring has proven to be successful in attracting and building an empowering place to work," says Elizabeth Gerbal, CEO and Founder of EAG Services, in a release.

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Building Houston

 
 

These fast-growing companies have new personnel announcements to share. Photos courtesy

Three Houston startups have new hires they're excited about.

From new board members to c-level execs, here's who's moving and shaking in Houston innovation.

GoExpedi names senior vice president of sales

Michael Hanes will focus on sales at fast-growing GoExpedi. Photo courtesy of GoExpedi

E-commerce and supply chain company, GoExpedi, which is focused on transforming procurement for industrial and energy maintenance, repair and operations, has announced named a new executive.

Michael Hanes has been onboarded as senior vice president of sales. Hanes has over 20 years of experience in startups and emerging technologies. Most recently, Hanes worked at Heart Rhythm Society as its director of corporate relations.

"There are very few leaders that have the same level of sales experience and the diverse industry background as Michael. He is an outstanding addition to our team, as he's already started to build fruitful relationships with customers and partners, who are embracing change through the adoption of our interactive intelligence platforms," says Tim Neal, GoExpedi CEO, in a news release.

"Michael has also begun establishing a strong rapport with all of our sales leaders across the country, helping to further sharpen our processes and accelerate the growth of our already robust sales pipeline," Neal continues. "He will be instrumental for the expansion of our customer base and overall success."

Last fall, GoExpedi raised $25 million in a series C investment round in order to keep up with growth and demand.

"I am thrilled to join GoExpedi. What Tim and his team have built in just a few short years is nothing short of remarkable," says Hanes in the release. "Driving the sale of a truly innovative technology -- with the support of a deeply talented team of sales professionals -- is an amazing position to be in.

"I look forward to introducing fresh perspectives and bringing energy to further enhance our sales processes and market presence and accelerate the company's already fast-paced growth trajectory."

The Postage announces new board of directors member

Former startup CFO and venture capital adviser is joining a Houston tech company's board. Photo via liveoakvp.com

Lynn Atchison has joined the board of directors for Houston tech company The Postage, a full-service digital platform and mobile app for afterlife planning.

Based in Austin, Atchison most recently served as CFO at Khoros (née Spredfast) and also previously worked at HomeAway Inc. as CFO as well. She currently serves on other tech boards, such as Absolute Software, Bumble, Q2 Technologies and Convey, as well as being an advisory partner at LiveOak Venture Partners.

"As evidenced by her impressive experience, Lynn thrives when working with transformational and fast-growing companies, making The Postage a perfect fit," says Emily Cisek, CEO and co-founder of The Postage. "She has scaled operations, driven growth and improved profitability for companies in all lifecycle stages. We are absolutely thrilled to welcome Lynn to The Postage team."

The Postage launched last fall as a way to help simplify afterlife planning. Cisek was inspired to create her tech solution after she lost three family members back to back. This month, the company announced its new app.

During her time at HomeAway, Atchison oversaw more than 20 acquisitions and global expansions before the company went public in 2011 before being acquired by Expedia in 2015 for $3.9 billion.

"Throughout my career, I've worked with companies that redefined and established markets, ultimately becoming leaders in their respective industries, which is what I hope to do at The Postage," said Atchison. "Addressing the challenges associated with end-of-life planning is an exciting opportunity that I can personally relate to. I recently experienced a loss in my family, and I know there is something special about this idea. The Postage creates security of all users by ensuring that their families are taken care of after they pass."

Innowatts appoints new c-level exec

Energy software expert Jeff Wright has joined the globally expanding Innowatts. Photo courtesy of Innowatts

As Houston-based Innowatts continues its global expansion — most recently opening its European Union headquarters in Cork, Ireland, the energy software-as-a-service company has named a new member to its C suite.

Jeff Wright has been named the chief revenue officer of Innowatts. to drive continued expansion in the U.S. and also accelerate its growth globally. Wright was previously the global vice president of GE Digital's Grid Solutions business unit. During his tenure, GE's market position climbed from the No. 5 to No. 1 for its energy control room related software, according to a news release.

"Jeff's career can be summarized as 'Energy Meets Technology,'" says Innowatts CEO Siddhartha Sachdeva in the release. "As Innowatts business and global reach expands, we are grateful to have Jeff joining the company. He is a true energy tech leader who has second-to-none domain expertise across a diverse set of utility functions and operating units."

Wright will lead all aspects of the company's go-to-market initiatives and oversee global sales efforts and marketing channels.

"My passion to help companies disrupt and transform the utility industry aligns squarely with Innowatts' mission," says Wright in the release. "Innowatts is transforming the way energy providers will leverage data and AI to operate. Playing a pivotal role in the growth of the company coupled with driving the resilient and sustainable energy solutions of the future is a career opportunity that I am excited and passionate about. I'm truly delighted to be part of the Innowatts leadership team."

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