Houston startup raises $30M series B, plans to expand its offerings to customers

money moves

Growing Houston-based WizeHire tripled its headcount last year and plans to grow even more as it scales up. Photo courtesy of WizeHire

A Houston software company has closed its latest funding round to the tune of $30 million.

WizeHire, a tech-enabled hiring solution for small businesses, announced the closing of its series B round, bringing its total funding to $37.5 million and its valuation to $250 million, according to the news release. The round was led by Tiger Global with participation from prior Houston-based investors Amplo and Mercury.

The pandemic has greatly impacted businesses ability to hire new employees. Founded in 2014, WizeHire launched a free version of its optimized hiring solution at the height of COVID-19. The company also helped small businesses find and apply for refundable tax credits and Payment Protection Program loans to keep their doors open.

“The pandemic was an incredibly tough time for Main Street, and we were right there with them," says Sid Upadhyay, CEO of WizeHire, in the release. "We’re constantly amazed by the depth of our clients’ trust in us and in response, have stepped up to serve them as a trusted advisor in their business growth. We plan to build a marketplace for small businesses to have access to the resources they need to succeed.”

Now, WizeHire is scaling its abilities to provide more resources to its customers, including offerings like tax, payroll, and insurance advice. The company also recently launched a mobile app for business owners to managing hiring on the go. Additionally, WizeHire has plans to expand into new industries — like automotive, hospitality, insurance, and home services — and add features like recommended background checks, and legally-approved offer letters, per the release.

"WizeHire has created a solution that serves and anticipates the most important needs of Main Street businesses with a focus on hiring skilled workers," Sam Harland, partner at Tiger Global, says in the release. "Rapid adoption of the WizeHire platform by small businesses illustrates the market’s potential, and we are excited to partner with Sid and the WizeHire team.”

The company, which raised its series A a little over a year ago, now has more than 15,000 employers use the platform — and 90 percent of those businesses plan to return for future hiring needs, the release states. Last year, WizeHire doubled its customer base and internally tripled its headcount. The business has plans to continue growing its team this year.

WizeHire CEO Sid Upadhyay joins the Houston Innovators Podcast to share his big plans for his company as it gears up for growth. Photo courtesy of WizeHire

Houston startup plans to expand to revolutionize tech-enabled small business support

HOUSTON INNOVATORS PODCAST EPISODE 74

Hiring and recruiting has been a challenging and inefficient process for small businesses — yet it could not be more important as a company with a small, growing team.

"Today, whether you're running a startup for the first or second time, at the end of the day, you're just wearing too many hats," says Sid Upadhyay, co-founder and CEO of WizeHire, on this week's episode of the Houston Innovators Podcast. "Recruiting is one of those things where we know talent is the lifeblood of our businesses, but we just don't have the time to think about the process."

Upadhyay says his company, Houston-based WizeHire, lives and breathes for small businesses, and in 2014 the company launched to tap into technology to provide a software service that can streamline a more effective way for startups and small businesses to hire — and hire optimally.

Last month, the company — founded by Upadhyay, Nick Carneiro, and Jay Niblick — closed a $7.5 million series A funding round that was led by Houston-based Mercury Fund and Amplo, which is based just north of Houston in Spring. Additional support came from existing backers Ruchit Shah and RigUp co-founder Sandeep Jain. The fresh funding will go toward expansion — both of its team as well as WizeHire's products.

Upadhyay says the the effects of the pandemic — which includes many businesses ceasing to hire — had profound repercussions on WizeHire.

"We saw half our revenue disappear overnight," Upadhyay says. "As we were going through that up-and-down roller coaster, it was one of the most humbling experience."

Upadhyay says WizeHire has a close relationship with its customers, and they were reaching out asking for guidance from WizeHire during the uncertain times. Upadhyay's team took the opportunity to provide low or no-cost support, especially when it comes to navigating the CARES Act.

"We started to educate our customers about everything from PPP loans to tax credits," Upadhyay says. "We went so far as to connect 300 of our customers to banks — otherwise they wouldn't have been able to get these loans."

These efforts are what led WizeHire to its first venture capital raise. The bootstrapped company has a client base that includes more than 7,000 businesses, and the company recorded $4.7 million in run rate in 2020. Now, in light of the impact WizeHire was able to make with its clients during the pandemic, Upadhyay says the company is going to expand to include other key services, like identifying tax credits.

"We're really going beyond just the hire," Upadhyay says. "We're getting to this role where we're going to help you grow your business."

Upadhyay discusses more about WizeHire's plans for 2021 and the intentionality of the business on the episode. Listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.


A Houston startup has closed a $7.5 million round of funding with mostly local investment. Photo courtesy of WizeHire

Houston software startup closes $7.5M series A led by two Houston-area​ VC firms

money moves

A Houston B2B software startup has closed a new round of funding led by two Houston venture capital firms.

WizeHire, a tech-enabled hiring solution for small businesses, closed a $7.5 million series A funding round that was led by Houston-based Mercury Fund and Amplo, which is based just north of Houston in Spring. Additional support came from existing backers Ruchit Shah and RigUp co-founder Sandeep Jain. The company was co-founded by Sid Upadhyay, Nick Carneiro, and Jay Niblick.

According to a news release, WizeHire will use the funds to scale their business, which is centered around providing personalized hiring resources to small businesses, as well as to hire more staff and expand its partner program.

"We're a small business helping small businesses with a team of people looking out for you," says Upadhyay, who serves the company as CEO, in the release. "Hiring is complex and personal. Our customers see what we do not just as software; they see us as a trusted advisor."

WizeHire's client base includes more than 7,000 businesses, and the company recorded $4.7 million in run rate in 2020, according to the press release, and it was the company's highest year-over-year growth.

"WizeHire is focused on a future where small business owners have easy access to the elevated hiring experience large corporations already have," says Amplo's Sam Garcia, who will join WizeHire's board, in the release. "They're not just creating a better alternative to current recruiting solutions; they're giving employers more peace of mind about the hiring process so they can get back to building their business."

Last year, during the height of the COVID-19 pandemic, the company launched a free version of its product and partnered with lenders to help increase accessibility for the Paycheck Protection Program. Now, in a new year, unemployment continues to soar and more than 10 million people remained out of work. As small businesses continue to recover and plan to rehire, WizeHire provides a service that is hyper-personalized for different industries.

"We are thrilled to support WizeHire's opportunity to define talent acquisition for small businesses," says Heath Butler, managing director at Mercury, who will also join WizeHire's board. "By systematically helping hiring managers align company values, behavioral competencies, technical skills and industry requirements to identify the best candidate, WizeHire is enabling their clients to maximize productivity, reduce turnover cost and increase customer loyalty."

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Houston robotics co. unveils new robot that can handle extreme temperatures

Hot New Robot

Houston- and Boston-based Square Robot Inc.'s newest tank inspection robot is commercially available and certified to operate at extreme temperatures.

The new robot, known as the SR-3HT, can operate from 14°F to 131°F, representing a broader temperature range than previous models in the company's portfolio. According to the company, its previous temperature range reached 32°F to 104°F.

The new robot has received the NEC/CEC Class I Division 2 (C1D2) certification from FM Approvals, allowing it to operate safely in hazardous locations and to perform on-stream inspections of aboveground storage tanks containing products stored at elevated temperatures.

“Our engineering team developed the SR-3HT in response to significant client demand in both the U.S. and international markets. We frequently encounter higher temperatures due to both elevated process temperatures and high ambient temperatures, especially in the hotter regions of the world, such as the Middle East," David Lamont, CEO of Square Robot, said in a news release. "The SR-3HT employs both active and passive cooling technology, greatly expanding our operating envelope. A great job done (again) by our engineers delivering world-leading technology in record time.”

The company's SR-3 submersible robot and Side Launcher received certifications earlier this year. They became commercially available in 2023, after completing initial milestone testing in partnership with ExxonMobil, according to Square Robot.

The company closed a $13 million series B round in December, which it said it would put toward international expansion in Europe and the Middle East.

Square Robot launched its Houston office in 2019. Its autonomous, submersible robots are used for storage tank inspections and eliminate the need for humans to enter dangerous and toxic environments.

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This article originally appeared on EnergyCapitalHTX.com.

Houston's Ion District to expand with new research and tech space, The Arc

coming soon

Houston's Ion District is set to expand with the addition of a nearly 200,000-square-foot research and technology facility, The Arc at the Ion District.

Rice Real Estate Company and Lincoln Property Company are expected to break ground on the state-of-the-art facility in Q2 2026 with a completion target set for Q1 2028, according to a news release.

Rice University, the new facility's lead tenant, will occupy almost 30,000 square feet of office and lab space in The Arc, which will share a plaza with the Ion and is intended to "extend the district’s success as a hub for innovative ideas and collaboration." Rice research at The Arc will focus on energy, artificial intelligence, data science, robotics and computational engineering, according to the release.

“The Arc will offer Rice the opportunity to deepen its commitment to fostering world-changing innovation by bringing our leading minds and breakthrough discoveries into direct engagement with Houston’s thriving entrepreneurial ecosystem,” Rice President Reginald DesRoches said in the release. “Working side by side with industry experts and actual end users at the Ion District uniquely positions our faculty and students to form partnerships and collaborations that might not be possible elsewhere.”

Developers of the project are targeting LEED Gold certification by incorporating smart building automation and energy-saving features into The Arc's design. Tenants will have the opportunity to lease flexible floor plans ranging from 28,000 to 31,000 square feet with 15-foot-high ceilings. The property will also feature a gym, an amenity lounge, conference and meeting spaces, outdoor plazas, underground parking and on-site retail and dining.

Preleasing has begun for organizations interested in joining Rice in the building.

“The Arc at the Ion District will be more than a building—it will be a catalyst for the partnerships, innovations and discoveries that will define Houston’s future in science and technology,” Ken Jett, president of Rice Real Estate Company, added in the release. “By expanding our urban innovation ecosystem, The Arc will attract leading organizations and talent to Houston, further strengthening our city’s position as a hub for scientific and entrepreneurial progress.”

Intel Corp. and Rice University sign research access agreement

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Rice University’s Office of Technology Transfer has signed a subscription agreement with California-based Intel Corp., giving the global company access to Rice’s research portfolio and the opportunity to license select patented innovations.

“By partnering with Intel, we are creating opportunities for our research to make a tangible impact in the technology sector,” Patricia Stepp, assistant vice president for technology transfer, said in a news release.

Intel will pay Rice an annual subscription fee to secure the option to evaluate specified Rice-patented technologies, according to the agreement. If Intel chooses to exercise its option rights, it can obtain a license for each selected technology at a fee.

Rice has been a hub for innovation and technology with initiatives like the Rice Biotech Launch Pad, an accelerator focused on expediting the translation of the university’s health and medical technology; RBL LLC, a biotech venture studio in the Texas Medical Center’s Helix Park dedicated to commercializing lifesaving medical technologies from the Launch Pad; and Rice Nexus, an AI-focused "innovation factory" at the Ion.

The university has also inked partnerships with other tech giants in recent months. Rice's OpenStax, a provider of affordable instructional technologies and one of the world’s largest publishers of open educational resources, partnered with Microsoft this summer. Google Public Sector has also teamed up with Rice to launch the Rice AI Venture Accelerator, or RAVA.

“This agreement exemplifies Rice University’s dedication to fostering innovation and accelerating the commercialization of groundbreaking research,” Stepp added in the news release.

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