Houston tech company's venture studio names new partner and cohort
A Houston-based tech company has named a new limited partner and 14 new startups to its venture arm.
Softeq Development Corporation announced its third group of early-stage startups to join theSofteq Venture Studio, which is geared at helping its resident startups quickly develop their technology and build their businesses. With 14 startups, the summer 2022 cohort is the largest yet and brings the total portfolio to 27 companies. Additionally, the $40 million Softeq Venture Fund welcomed Royal Eagle Capital Partners, a Houston-based investment firm, as a limited partner with its $3 million commitment.
“We are thrilled to see how much the Softeq Venture Studio has grown since 2021,” says Christopher A. Howard, founder and CEO of Softeq, in a news release. “We’re also pleased to welcome Royal Eagle Capital Partners as an investment partner in our Venture Fund, which allowed us to achieve more than 50 percent of our funding goal in just five months. We look forward to building on this partnership and growing Softeq in North America, Latin America, and beyond.”
Softeq is also celebrating a recent expansion into Latin America and staffing the new regional office with 30 engineers. The company has plans to grow to 150 employees in the region over the next year.
“The Softeq Venture Fund presents a unique opportunity to diversify our holdings within the alternative investments space. The concept of risk mitigation in venture investments resonates with investment firms globally, and we are excited to be working with Softeq and the amazing talent of their early-stage companies,” said Mark Valdez — co-founder, managing partner, and chief investment officer at Royal Eagle Capital Partners — in the release. "The emphasis on growth in Latin America by Softeq was a driving factor for our commitment and will open the door to new opportunities in Mexico and beyond.”
The Q2 2022 cohort is from across the United States with even some international representatives. The companies are using tech to solve problems across industries from human resources and wellness to med-tech and sports-tech and more. Applications are open for the next cohort online.
Here are the 14 companies making up the cohort:
- Concerto Commerce, based in Southlake, Texas, is an eCommerce platform that combines automated catalog management and payment processing to streamline reseller operations.
- New York City-based Dailyhuman is a software platform designed to help companies retain employees by fostering safety, trust, and connection in the workplace.
- Headquartered in Houston, FrakBlock is a blockchain-based predictive tool providing financial products for the adulting process of young teens in Latin America.
- High Tech Ranch Solutions, from The Woodlands, is a digital ranch management system designed by ranchers to bring monitoring to the palm of your hand.
- Santa Barbara, California-based Homesavi is a platform that helps first-time homebuyers understand the home-buying process and guides them to their dream home.
- Louder.ai is an advertising platform that revolutionizes how people can support causes they care about and see the impact of their donations.
- Mallard Bay, founded out of Louisiana State University, is a marketplace for guided hunting and fishing trips that streamlines booking and administrative processes for consumers and outfitters. The company won Softeq's prize at the Rice Business Plan Competition.
- RYN is a social platform to help families in the Middle East find and employ household migrant workers providing better working and living conditions.
- Delaware-based SAmAS Gamify is building a gamified psychometric assessment platform that helps employers evaluate and select the most qualified candidates.
- Founded in North Carolina, ShopAgain is an AI-powered customer retention platform redefining personalized customer experiences for eCommerce businesses.
- Houston-based TeeMates Golf is a mobile app that connects golfers worldwide using social media, tee time linking, and offers a merchandise marketplace.
- ViiT Health, based in Mexico, is a non-invasive technology to help people measure and monitor blood sugar levels more accurately without a finger prick lancet.
- WellnessWins is a CRM to streamline intake processes for private therapy clinics to reduce waitlists and increase access to mental health care.
- WorkHint helps retail companies manage on-demand hourly talent to increase flexibility, reduce cost, and generate actionable data-driven insights.