Three Houston companies are among the best startups for employees. 10'000 Hours/Getty Images

Three businesses based in the Houston area appear in Forbes magazine's inaugural ranking of the best startup employers.

Forbes teamed up with market research company Statista to identify up-and-coming companies that are liked most by those who work there. Researchers evaluated 2,500 U.S. businesses with 50 or more employees on three criteria: employer reputation, employee satisfaction, and growth. The result: Forbes' first-ever ranking, released March 10, of the country's 500 best startup employers.

To create the ranking, Statista looked at articles, blogs, and social media posts about each employer; employee reviews on job websites like Glassdoor and Indeed; and website traffic and employee headcounts for each startup over a two-year span.

The three Houston-area startups that are ranked are: Houston-based 2nd.MD (No. 280), Pearland-based Code Ninjas (No. 350), and Houston-based Onit (No. 463).

San Francisco-based footwear retailer Allbirds snags the No. 1 ranking on the Forbes list, and the Dallas-Fort Worth leads Texas metro areas for the most startups on the list with its 13 startup companies.

Ranked 25th, the highest in Texas, Fort Worth-based Koddi garners the top ranking among all Texas startups. The company provides marketing software for advertisers in the travel industry. In 2019, the Digiday Worklife Awards program named Koddi the tech company with the most collaborative culture.

"Koddi gives its employees the ability to shape the direction of their own careers and empowers them to succeed," Zachary Rector, associate director of account services, said in a 2017 release. "Every day at Koddi offers a unique challenge to overcome and the opportunity for personal growth. All of your coworkers are fully committed to one another's success and help each other learn. Koddi is a fast-paced, ever-changing, and engaging place to work."

Here are the 12 other Dallas-Fort Worth startups that appear in the Forbes ranking:

  • No. 50 — Bestow, Dallas
  • No. 59 — Veryable, Dallas
  • No. 118 — Sector 5 Digital, Fort Worth
  • No. 149 — Stryve Biltong, Plano
  • No. 231 — PestRoutes, McKinney
  • No. 265 — Titus Industrial, Dallas
  • No. 275 — Student Success Agency
  • No. 271 — Meritize, Frisco
  • No. 272 — Defi Solutions, Westlake
  • No. 305 — Crystal Clear Concepts, Grand Prairie
  • No. 325 — WellKept, Arlington
  • No. 411 — Tap Water Watch, Dallas

Meanwhile, Austin had a dozen startups on the list. At No. 87, Austin-based SchooX is the top-ranked startup in the Central Texas region. The company provides a workplace learning platform.

"Working at SchooX provides an awesome environment with great people that changes the way people learn," employee George Litos says on the company's website. "SchooX is shaping the future of e-learning, and I'm proud to be a part of it."

Here are the 11 other Austin-area companies that claim spots in the top 500:

  • No. 97 — Iris Telehealth, Austin
  • No. 201 — Jungle Scout, Austin
  • No. 226 — RigUp, Austin
  • No. 301 — TrustRadius, Austin
  • No. 315 — Shipwell, Austin
  • No. 399 — AlertMedia, Austin
  • No. 430 — Everlywell, Austin
  • No. 451 — Innovetive Petcare, Cedar Park
  • No. 457 — SubjectWell, Austin
  • No. 463 — ScaleFactor, Austin
  • No. 478 — Outdoorsy, Austin
------

This article originally ran on CultureMap.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Houston quantum energy chip startup emerges from stealth with $12M round

seed funding

Houston-based Casimir has emerged from stealth with a $12 million seed round to commercialize its quantum energy chip.

The round was led by Austin-based Scout Ventures. Lavrock Ventures, Cottonwood Technology, Capital Factory, American Deep Tech, and Tim Draper of Draper Associates also participated in the round. The oversubscribed round exceeded the company’s original $8 million target, according to a news release.

Casimir’s semiconductor chips can generate power from quantum vacuum fields without the need for batteries or charging. The company plans to commercialize its first-generation MicroSparc chip by 2028.

The MicroSparc chip measures 5 millimeters by 5 millimeters and is designed to produce 1.5 volts at 25 microamps, comparable to a small rechargeable battery, without degradation and no replacement cycle.

“Casimir represents exactly the kind of breakthrough dual-use technology Scout Ventures was built to back,” Brad Harrison, founder and managing partner at Scout Ventures, said in the release. “This is based on 100 years of science and we’re finally approaching a commercial product … We’re proud to lead this round and support Casimir’s journey from applied science to deployed technology.”

Casimir says it aims to scale its technology across the ”full power spectrum,” including large-scale energy systems that can power homes, commercial infrastructures and electric vehicles.

Casimir's scientific work has been supported by DARPA-funded nanofabrication research and its technology was incubated at the Limitless Space Institute (LSI). LSI is a nonprofit that works to innovate interstellar travel and was founded by Kam Ghaffarian. Technology investor and serial entrepreneur Ghaffarian has been behind companies like X-energy, Intuitive Machines, Axiom Space and Quantum Space.

Harold “Sonny” White, founder and CEO of Casimir, believes the technology can power devices for years without replacements.

“Millions of devices will operate for years without a battery ever needing to be replaced or recharged because we have engineered a customized Casimir cavity into hardware capable of producing persistent electrical power,” White added in the release. “I spent nearly two decades at NASA studying how we power humanity’s future. That work led me to the Casimir effect and the quantum vacuum, where new tools have allowed us to build on a century of scientific knowledge and bring abundant power to the world.”

Houston-based Fervo Energy bumps up IPO target to $1.82 billion

IPO update

Houston-based geothermal power company Fervo Energy is now eyeing an IPO that would raise $1.75 billion to $1.82 billion, up from the previous target of $1.33 billion.

In paperwork filed Monday, May 11 with the U.S. Securities and Exchange Commission, Fervo says it plans to sell 70 million shares of Class A common stock at $25 to $26 per share.

In addition, Fervo expects to grant underwriters 30-day options to buy up to 8.33 million additional shares of Class A common stock. This could raise nearly $200 million.

When it announced the IPO on May 4, Fervo aimed to sell 55.56 million shares at $21 to $24 per share, which would have raised $1.17 billion to $1.33 billion. The initial valuation target was $6.5 billion.

A date for the IPO hasn’t been scheduled. Fervo’s stock will be listed on Nasdaq under the ticker symbol FRVO.

Fervo, founded in 2017, has attracted about $1.5 billion in funding from investors such as Bill Gates-founded Breakthrough Energy Ventures, Google, Mitsubishi Heavy Industries, Devon Energy (which is moving its headquarters to Houston), Tesla co-founder JB Straubel, CalSTRS, Liberty Mutual Investments, AllianceBernstein, JPMorgan, Bank of America and Sumitomo Mitsui Trust Bank.

Fervo’s marquee project is Cape Station in Beaver County, Utah, the world’s largest EGS (enhanced geothermal system) project. The first phase will deliver 100 megawatts of baseload clean power, with the second phase adding another 400 megawatts. The site can accommodate 2 gigawatts of geothermal energy. Fervo holds more than 595,000 leased acres for potential expansion.

Cape Station has secured power purchase agreements for the entire 500-megawatt capacity. Customers include Houston-based Shell Energy North America and Southern California Edison.

---

This article originally appeared on our sister site, EnergyCapitalHTX.com.