houston innovators podcast episode 216
How this Houston SaaS startup plans to scale with future of energy in mind
As much as she loves a good Excel spreadsheet, Samra Nawaz had just about had it with the convoluted — and not always completely accurate — process of building financial models within upstream oil and gas.
"Excel is generally a good tool to automate workflows and build really robust spreadsheets. I live in Excel — I have a spreadsheet for everything," Nawaz says on the Houston Innovators Podcast. "What Excel is not is a database."
Engineering teams work with massive amounts with data that's too big for Excel, she explains, so finance teams then have to work off of aggregated data to build their financial models. She was ranting about why there isn't a better process to her husband, Vinay Acharya, who suggested that they build it themselves.
After thinking it through together, the duo co-founded WellWorth in 2018. Since then, the company has developed its MVP, completed a few accelerators — Rice University's OwlSpark, MassChallenge, and Softeq Ventures, to name a few — and won this year's Startup Pitch Competition hosted by the Ion.
Now, the bootstrapped startup looks to 2024 to bring on its first venture capital investors and team members — first to thoroughly tackle upstream O&G before expanding into other parts of the energy sector, including renewables.
"We're focusing on a specific workflow, and that is for engineering and finance teams and automating the corporate financial modeling side of the workflow," Nawaz says. "But we also see a lot of the renewables companies sprouting up, and we understand the attention on renewables verticals is only going to increase in the next few years.
"We're building WellWorth in a very modular way, so that when the time is right, we can easily start working with customers in the renewable space as well," she adds.
Nawaz, CEO of WellWorth, shares more about her company's growth plan and the impact the technology has on its early customers on the podcast.