Houston innovators podcast episode 12

Meet the Houston entrepreneur revolutionizing maritime shipping with software and data analysis

Houston-based Voyager, co-founded by Matthew Costello, has created a software solution for inefficient communication practices of the maritime shipping industry. Photo courtesy of Voyager

While in business school, Matthew Costello could not kick the thought of all the inefficiencies within the maritime shipping industry. He asked a friend, Bret Smart, to help him look into some of the logistical communications issues within the industry. The two co-founders of Houston-based Voyager started asking some questions for all the different parties involved in shipping across seas.

"The data we got back was pretty alarming," Costello says on this week's episode of the Houston Innovators Podcast. "It basically showed that whoever you speak to in the maritime industry, people are spending about 40 percent of their day on what we would consider low-value, low-complexity tasks."

Some of these tasks included copying and pasting information from spreadsheets, forwarding materials to the right person, and countless emails — sometimes even 10,000 emails for just one large shipment.

The duo created Voyager, a software-as-a-service company that connects the various entities involved in a shipment, to solve this massive communications problem.

"It essentially works very similar to a project management tool," Costello, who is the CEO of the company, says. "When you think of a voyage where you have a large oil and gas company shipping 100,000 barrels from Houston to Singapore, right now, that voyage will involve 10 different companies located all around the world with 50 to 100 different users.

"With Voyager, what it allows companies to do is essentially have all of those counter parties working together in a shared environment to manage the voyage together — entirely email free," Costello says, adding that their software is also able to automate parts of the process as well as collect data for analysis.

In August, Voyager closed a $1.5 million seed round of funding and has eight clients working with the software. In the last episode of the podcast for 2019, Costello shares his international fundraising story, what he has lined up for Voyager in 2020, and more. Stream the episode below and subscribe wherever you get your podcasts.



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Building Houston

 
 

Capital Factory's Houston HQ will be in The Ion. Photo courtesy of The Ion

A company that supports entrepreneurship and startups across the Lone Star State with mentorship and funding has announced its new homebase in Houston.

Capital Factory has revealed a new programming partnership with The Ion. Through the collaboration, Capital Factory will host programming, events, and resources within the innovation hub to grow, educate, and support Houston-based startups and entrepreneurs.

"Capital Factory's presence at The Ion will further expand the opportunities for startups and innovators in the Houston region, while strengthening an important pillar of the Texas Startup Manifesto," says Joshua Baer, founder and CEO of Capital Factory, in a news release.

Capital Factory was founded in Austin in 2009 and boosts on being the most active investor in Texas, deploying smaller investments to a multitude of early-stage startups. According to Crunchbase's data, the entity has invested in over 160 companies with 20 exits. Capital Factory officially entered the Houston market in 2019 and doubled down its presence last year when it merged with Station Houston.

Now, with its Houston headquarters moving into The Ion, the two innovation partners will take an inclusive approach to creating connections between innovators, mentors, investors, and markets, per the release.

"We are thrilled to have Capital Factory as a programming partner at The Ion" says Jan E. Odegard, executive director of The Ion, in the release. "The Ion seeks to work with key partners and established brands to help build a rich and inclusive set of startup services that can support all innovators and startups wherever they are in their entrepreneurial journey. Capital Factory brings a proven track record for providing entrepreneurs with services and investments that brings great value not only to The Ion ecosystem, but also to the entire Houston innovation ecosystem."

Capital Factory's first event at The Ion will be Open Coffee on November 16th followed by Open Coworking all day, Baer adds in his statement.

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