growing gains

Growing Houston energy tech company plans to hire 150 new employees this year

Houston-based Corva, an AI-optimized analytics company, is in the process of hiring — a lot. Photo via corva.ai

While the oil and gas industry may be in store for sluggish growth in 2020, that's hardly the case for Houston-based energy tech startup Corva AI LLC.

Corva — which offers a real-time data analytics platform for drilling and completion (the stage when a well is prepared for production) — added 85 employees last year, mostly in Houston. And it's on track to make 150 new hires in 2020, including software developers, researchers, drilling engineers, and data analysts, says Courtney Diezi, the company's general manager. Two-thirds of this year's new hires will work in Houston, she says.

Diezi says the company's headcount currently stands at 120, with 100 employees in Houston and 20 in Ukraine.

Corva has expanded so much and so quickly that it outgrew its previous 11,000-square-foot office and is now at The Cannon, a coworking space and innovation hub in the Energy Corridor. It's set to move later this year to a new 40,000-square-foot space at The Cannon.

Founded in 2014 by CEO Ryan Dawson, Corva has raised just $3 million in outside funding to propel its growth.

"Our business has grown exponentially at the same pace as companies raising hundreds of millions in funding," Dawson says. "While the startup world has chased endless rounds of funding with the notion of either becoming a unicorn — or dying — we have focused on creating a company that cares deeply about our employees and a business that lasts 100 years."

Dawson describes Corva as the "modern brains" of drillings and completions. Oil and gas equipment sends millions of datapoints to Corva to help make complex decisions about drilling operations, she says. About 40 customers use Corva's technology.

In a 2019 news release, Dawson said Corva gauges its success "by the number of days we save on rigs, the costs we can quantifiably cut, and the number of catastrophic events we prevent." Corva's technology has saved millions of dollars for its customers and reduced the length of drilling projects by as many as three days, he said.

"Corva's challenge is to change the behavior of drillers who work for somebody else," the Journal of Petroleum Technology reported in 2019. "The fast-growing company has no shortage of users. Retaining those customers will require convincing oil companies that the real-time drilling data and analysis is creating enough value to justify the cost."

Corva's user-focused approach to developing technology helps attract and retain customers. Executives say they consider Corva a tech company that operates in the oil and gas sector rather than an oil and gas company that happens to develop software.

"Our software platform rivals Netflix and Twitter in terms of giant datasets and real-time processing," Diezi says. "Without a core expertise and founding team in software, we wouldn't be able to provide the amazing technology we do — it's too central to what we do. Corva is the perfect mixture of oil industry veterans and software whiz kids. Our customers love to work with us because we speak their language but provide world-class products solving hard problems."

As it continues to enlarge its workforce, Corva seeks to foster a workplace that embraces both oil industry veterans and software whiz kids.

"We want to be the most admired workplace in Houston, with a Google-like status both for our amazing products and our company culture," Diezi says.

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Building Houston

 
 

Register for some of these informative online events happening throughout the month of December. Getty Images

It's the last monthly events roundup for 2020 — and this month, understandably, is a bit slow due to the holidays, but we have a roundup of the must-attend events for December.

From workshops and panels to summits and pitch parties, here are over 10 Houston innovation events you can attend virtually via online meetings. Note: This post will be updated to add more events.

December 1 — National Resilience Town Hall: Year in Review, Year Ahead

The Insurance Information Institute and ResilientH2O Partners, in partnership with the Resilience Accelerator, will hold the final session for 2020 in an ongoing series of thought-leadership among insurance, non-insurance, public sector, and technology senior executives. December's National Townhall will bring five unique perspectives together to discuss lessons-learned from 2020 and predictions for 2021's resilience and risk mitigation "agenda" across residential, commercial, industrial, government operations, infrastructure, facilities, and communities.

The event is on Tuesday, December 1, at 10 am. It's free and can be accessed online. Click here to register.

December 1 — Angel Investing 101

Learn about how to make effective angel investment decisions and find out more about the newly launched Chicago Booth Angels Network of Texas. The event's keynote speaker is Ashok Rao, serial entrepreneur and board member of Houston-based GOOSE Capital.

The event is on Tuesday, December 1, from 5 to 6 pm. It's free and can be accessed online. Click here to register.

December 1 — The Ion's Industry Day

The goal of the inaugural Industry Day is to introduce and connect minority and women owned businesses (MWBE) with The Ion's Transwestern team. The hour long event is designed to facilitate networking and connect interested businesses with Transwestern, who will run operations for The Ion and catalyze local economic growth. Following the event, interested businesses can set up a walk through of The Ion in mid-December to finalize their bid.

The event is on Tuesday, December 1, from 6 to 7 pm. It's free and can be accessed through Zoom. Click here to register.

December 2 — NASA and Your Small Business: Understanding the NASA Procurement Process

Join The Ion to learn about NASA's commitment to providing access for all categories of small businesses to participate in the procurement process.

The event is on Wednesday, December 2, at noon. It's free and can be accessed through Zoom. Click here to register.

December 3 — Capital Factory's Venture Summit

Capital Factory is calling all investors, accelerator leaders, limited partners, and more to its annual venture summit, which is taking place virtually this year.

The event is on Thursday, December 3, from 9:45 to 2 pm. It's free and can be accessed online. Click here to register.

December 3 — Evening of Pediatric Device Innovation

JLABS @ TMC and Southwest National Pediatric Device Innovation Consortium are teaming up for the sixth Annual Evening of Pediatric Device Innovation. The evening of innovation will host top experts from Houston and across the country will discuss their views on the latest in pediatric medical device innovation and updates on bringing a pediatric medical device to market.

The event is on Thursday, December 3, from 3:40 to 5 pm. It's free and can be accessed through Zoom. Click here to register.

December 3 — An Evening With Women in Corporate Innovation

Join General Assembly Houston to hear from inspiring female leaders in corporate innovation who have blazed the path to stand up and stand out. From learnings to failings and their secrets of success, this event is an opportunity to learn from the best — serious wisdom, from seriously cool women, all designed to supercharge you and your organization's success.

The event is on Thursday, December 3, from 5 to 6:30 pm. It's free and can be accessed online. Click here to register.

December 8 — The Cannon Q4 Pitch Party: Presented by Dell Technologies

Join The Cannon and Dell Technologies in hearing from new companies working in Digital Transformation Tech.

The event is on Tuesday, December 8, at 5:30 pm. It's free and can be accessed via Zoom. Click here to register.

December 8 — How to Start a Startup with Heath Butler of Mercury Fund

The Ion is hosting a startup 101 workshop with Heath Butler from Mercury Fund. You have an idea...now what? Before you start looking for funding, it's important to make sure that your idea is both viable and valuable — if it doesn't have a sound model and a market willing to pay for it, investors won't be interested anyway.

    The event is on Tuesday, December 8, at 5:30 pm. It's free and can be accessed via Zoom. Click here to register.

    December 10 — Greentown Lab's Energy Bar: Wrapping Up an Unprecedented Year

    Join Greentown Labs virtually for the final edition of the EnergyBar networking event for 2020. Greentown Labs is ready to put a wrap on 2020, an unprecedent year for us all. Between the opening of the new community in Houston and a renewed national policy focus on climate action, the organization is looking ahead to 2021. Entrepreneurs, investors, students, and friends of climatetech are invited to attend, meet colleagues, and engage in a community that is focused on climate action at work.

    The event is on Thursday, December 10, from 3:30 to 6:30 pm. It's free and can be access through Remo. Click here to register.

    December 15 — The State of Space

    The Greater Houston Partnership is hosting its first State of Space event featuring NASA Administrator Jim Bridenstine as the keynote speaker. Since his appointment as Administrator in April of 2018, Bridenstine has led NASA in advancing American aeronautic, science, and space exploration objectives.

    The event is on Tuesday, December 15, at noon. It's $35 for GHP members and $60 for nonmembers. Click here to register.

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