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

 
 

As of this week, Lara Cottingham is the chief of staff at Greentown Labs. Photo via LinkedIn

The country's largest climatetech startup incubator has made a strategic new hire.

Lara Cottingham is the new chief of staff for Greentown Labs, a Boston-area company that opened in Houston earlier this year. Cottingham previously served as the city of Houston's chief sustainability officer and the chief of staff for the city's Administration and Regulatory Affairs Department for the past seven years. In her new role, Cottingham will oversee the day-to-day operations and communications for Greentown's CEO Emily Reichert, along with key stakeholder engagements and strategic initiatives for the incubator.

"Lara brings a tremendous wealth of knowledge and experience to our team from her dynamic leadership role at the City of Houston," says Reichert in a news release. "Her breadth of knowledge in sustainability, climate, and the energy transition, and her expertise in regulatory and stakeholder aspects of the energy industry, will be incredibly valuable to our team and community."

Under her leadership at the city of Houston, Cottingham was the chief author of Houston's Climate Action Plan, an initiative aimed at reducing greenhouse gas emissions in Houston, and getting the city to a point where it meets the Paris Agreement goal of carbon neutrality by 2050. Cottingham helped the city move to 100 percent renewable electricity, according to the release, and helped turn a 240-acre landfill into the nation's largest urban solar farm.

"In leading the Climate Action Plan, Lara helped spark Houston's leadership in what has become a global energy transition and was a passionate advocate for climate action in Houston," says Houston Mayor Sylvester Turner in the release. "While she will be missed, this new role will only strengthen our partnership with Greentown. I look forward to working with Emily, Lara, and the Greentown team to meet our climate goals and make Houston the energy capital of the future."

Before her work at the city, Cottingham worked at Hill+Knowlton Strategies' Houston office range of clients across the energy sector. Earlier in her career, she served as communications director for two congressmen in the U.S. House of Representatives. She began her work with the city in 2014.

"In working with Mayor Turner and Climate Mayors across the U.S., I saw how important partnerships are to helping cities decarbonize," says Cottingham in the release. "There is no better partner or place for climate action at work than Greentown Labs. Greentown is 100 percent committed to attracting and nurturing the energy companies of the future and making Houston the energy transition capital of the world. I'm excited to join the team and see how climatetech can help cities reach their climate goals."

Greentown Labs first announced its entrance into the Houston market last summer. The new 40,000-square-foot facility in Midtown across the street from The Ion opened its prototyping and wet lab space, offices, and community gathering areas for about 50 startup companies opened in April. Greentown was founded in 2011 in Somerville, Massachusetts, and has supported more than 400 startups, which have raised more than $1.5 billion in funding.

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