holiday hero

Houston startup launches 1-stop shop for corporate holiday event planning

GotSpot's Holiday SOS tool will help you plan a seamless holiday event for your company. Getty Images

A Houston startup that specializes in finding short-term real estate space for various purposes is putting its coordination skills to good work this holiday season.

GotSpot's Holiday SOS aims to be companies' one-stop shop for planning corporate holiday celebrations, from luncheons to happy hours and no matter the size of the event.

"I worked at a law firm for over a decade, and I remember the giant hassle it was at the last minute to figure out who was responsible for the holiday party," says Reda Hicks founder and CEO of GotSpot Inc.

The opportunity allows for the burden to be taken off that person within the company — who has a real, non party-planning job — while also allowing for new avenues of daytime business for party service providers.

"The idea is that I'm pairing spots with local service providers to make it really easy for somebody to have a corporate holiday luncheon or happy hour," Hicks says.

And, on the GotSpot end, Hicks is able to make connections with venues and service providers, while also testing GotSpot's business plan.

"It's a little bit of a pilot for us," Hicks says.

Down the road, GotSpot will have the technology for the process to be completely automated, but for now it's manual. Interested companies can head to GotSpot's website to view options for various venues and service providers, including menus, available bartenders, etc. Within a day, Hicks will get in touch to confirm details and explain next steps.

Hicks says she's gotten several requests already — including one for an event in San Antonio, which is interesting to Hicks since that's a market she has her eye on for launching GotSpot. In fact, when GotSpot launches its booking technology in the second quarter, a few "spots" of hers will be in central Texas.

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Building Houston

 
 

Growing Houston blockchain startup has raised $4 million to go toward supporting sales growth. Graphic courtesy of Data Gumbo

An industrial blockchain-as-a-service startup based in Houston has closed a series B funding round thanks to support from both new and returning investors.

Data Gumbo Corp., which uses its blockchain network GumboNet to optimize smart contracts for oil and gas supply chains, announced its first close in its $4 million series B funding round that was led by new investor L37, which has operations in the Bay Area and in Houston. The round also saw contribution from returning investors Equinor Ventures and Saudi Aramco Energy Venture.

The funds will go toward growing Data Gumbo's sales team, which has been busy with the company's growth. While providing their own set of challenges and obstacles, both the pandemic and drop in oil prices meant oil and gas companies are prioritizing lean operations — something DataGumbo is able to help with.

"The opportunity in all this is companies have got to cut expenses," Andrew Bruce, CEO and founder, tells InnovationMap. "What's happened to us is our sales have absolutely exploded — in a good way. We have a huge number of leads, and we have to be able to deliver on those leads."

Bruce says leading the sales growth is Bill Arend, who was hired Data Gumbo's chief commercial officer this spring. Data Gumbo also recently announced that Richard Dobbs, 30-year veteran of McKinsey and former director of the McKinsey Global Institute, has joined the board as chairman.

"Dobbs is a recognized strategic industry thinker," Bruce says in a release. "His distinct expertise will lend structure, support and validation to Data Gumbo as we experience aggressive company growth."

Of course, fundraising in this unprecedented time, isn't easy. Bruce says he and his team were able to succeed thanks to a new investor, L37, which came from an introduction within Bruce's network.

"Data Gumbo is the category leader for industrial smart contracts, which is an inevitable next step in digital transformation of the oil and gas industry," says Kemal Farid, a partner in L37, in a statement. "There is a lack of transparency, visibility and accuracy between counterparts of contracts that increases the costs of doing business and this has been greatly exacerbated by the current business landscape. We look forward to applying our experience to propel the company along its journey to bring transactional certainty and cost efficiency to commercial relationships."

Additionally, Bruce says he's very proud of his company's return investors, who are also clients of DataGumbo.

"[We also have] the continuous support by our original investors — Aramco and Equinor — they invested in us not just once but twice," Bruce says. "They have been tremendously supportive, not just from an investor perspective, but also proving the value. We've got multiple projects starting with both of those companies."

Bruce says he already has eyes for another venture capital round — perhaps sometime next year — for Data Gumbo, which has raised $14.8 million to date. However, the company isn't far from profitability and growth from that avenue too.

"We're going to have the luxury of choice," Bruce says. "We want to grow as aggressively as possible so we are probably going to go the venture capital route."

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