diversifying

Houston blockchain company taps into a new industry, hires new exec

Data Gumbo has named the newest member of its executive team — and the newest industry it's looking to do business in. Photo courtesy of Data Gumbo

A Houston blockchain company that makes it easier and faster to process industry contracts, payment, and more has diversified its business again.

After expanding into the water services industry in August, Houston-based Data Gumbo Corp. has announced its next market: Construction. The startup, which works out of The Cannon Houston, has hired industry veteran Michael Matthews hired as industry principal to work directly on the company's efforts in the $9 trillion sector.

"Construction is one of the world's largest industries, but it has clearly fallen behind others in adopting technology and driving efficiency," says Andrew Bruce, CEO of Data Gumbo, in a news release. "Michael is a recognized leader in the industry and his vision and experience make him an excellent fit to scale Data Gumbo into the construction sector."

Matthews has over 30 years of experience in construction. He says in the release that some of the issues of current practices result in 30 to 40 percent of project costs to be hidden, and he wants to use the GumboNet platform to provide solutions.

"The construction industry lags far behind other industries in both productivity improvement and technology adoption, resulting in billions of lost value," Matthews says in a news release. "The way companies come together to execute projects remains essentially the same despite technology's improvement and we have to make fundamental, disruptive changes to deliver more value."

The growing blockchain-as-a-service company closed $6 million series A round earlier this year. Courtesy of Data Gumbo

Originally built for upstream drilling and completions within the oil and gas industry, Data Gumbo has grown its clientbase over the past few years. The company provides its blockchain-as-a-service services as a subscription for its clients.

Recently, the company was announced to be one of the two Houston-based companies in Plug and Play Tech Center's inaugural Houston cohort, and, earlier this year, the company was named among Crunchbase's top 50 hottest tech companiesCrunchbase's top 50 hottest tech companies. The growing company also hired another executive this summer —the company's new chief commercial officer is Sergio A. Tuberquia — following the closing of a $6 million series A round.

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Building Houston

 
 

We could all use a little IT help right now. Photo by Maskot/Getty

Though it's been around since 2012, JPMorgan Chase's Force for Good program feels especially vital right now. The project connects Chase employee volunteers with hundreds of nonprofits around the world to build sustainable tech solutions that help advance their missions.

Even better, Houston and Dallas nonprofits have a leg up in the selection process. Organizations located in or near one of Chase's tech centers get priority, and that includes H-Town and Big D.

The government-registered nonprofits, foundations, and social enterprises (we're talking everything from food banks to theater companies) selected to participate will have access to a team of up to 10 highly skilled technologists, who will spend approximately four hours per week advising over an eight month period.

Each nonprofit is asked to propose the specific project that would benefit from technology guidance, and it needs to be something the organization can maintain when the project period is over.

"We have more than 50,000 technologists at JPMorgan Chase around the world and they're passionate about giving back," says Ed Boden, global lead of Technology for Social Good programs. "Force for Good gives our employees the opportunity to utilize their unique skills while also learning new ones, to build technology solutions for the organizations that need it most."

If you're the director, CEO, or other person in charge at a nonprofit and you still have questions about Force for Good, Chase has put together a free webinar to help explain further.

These webinars cover the overall program experience and application process, and it's highly recommended that nonprofits watch before applying. The live webinar dates (with Texas times) are June 2 from 1:30-2:30 pm and June 8 from 10:30-11:30 am.

A pre-recorded webinar will also be available for nonprofits to review after the live webinar dates.

Since 2012, Force for Good has worked with over 320 organizations in 22 cities, contributing over 190,500 hours of knowledge and skills.

"It is a great program that can provide strong impact for nonprofit organizations that need technology help," says Chris Rapp, a Dallas-based Chase executive. "As a father and husband of two Dallas artists, I am a huge believer in helping the arts grow and hopefully we can help do this through Force For Good."

The application process opened on May 28, with a deadline to submit by July 10.

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