Trivie has closed a $5 million investment round led by Houston-based Cottonwood Venture Partners. Photo via Trivie.com

A Texas-based tech startup that has created an artificial intelligence-enabled tool that gamifies corporate training and education has closed its most recent funding round thanks to a Houston investor.

Trivie as announced its $5 million series A investment round led by Houston-based Cottonwood Venture Partners, an investment firm that has a portfolio of technology companies that are providing digital solutions within the energy industry. Trivie will use the new funds to scale its product and expand across industries, from energy and manufacturing to hospitality, healthcare, consumer goods, and more.

"The Trivie team's success to date has been remarkable and we are humbled to partner with them to expand Trivie's reach as organizations increasingly look to maximize knowledge retention, particularly as it relates to health and safety," says Jeremy Arendt, managing partner of CVP, in a news release.

Now, as more employees are working from home than ever before, relevant training is crucial and at the top of mind for business leaders. Trivie's clients include Subway, Phillips66, Anheuser-Busch, to name a few.

"At Trivie, our mission is to ensure that every employee at every organization can be at their very best because what they have been taught, they remember, and what they have said is understood," says Lawrence Schwartz, CEO, and co-founder at Trivie, in a news release. "We are extremely excited to partner with Cottonwood Venture Partners to help us expand our footprint in the Fortune 1000 and to continue to execute on that mission."

One of Trivie's founders, Leland Putterman, who is based in Houston, first had the idea for a consumer-facing trivia game 18 years ago. When the app rolled out in 2013, it garnered more than three million downloads. As COVID-19 has brought new compliance guidelines to the forefront of every industry, Trivie was quick to make the CDC's coronavirus guidelines available to all of its clients for no additional charge to be used across their entire employment bases.

Additionally, Trivie prioritizing its user's ability to connect in a time of social distancing and working from home.

"The only way to maintain that company culture and close communication with confidence is to use something like Trivie," Putterman previously tells InnovationMap. "There's no feedback loop right now. The only way to bridge that gap is to have something like Trivie that's the glue."

Adam Gilles and Lance Richardson, co-founders of Hitched Inc., join this week's episode of the Houston Innovators Podcast to discuss the digital marketplace's rapid growth. Photos courtesy of Hitched

Houston energy tech startup talks growth and national expansion following $5.5M series A

HOUSTON INNOVATORS PODCAST EPISODE 22

Industrial operations might be a bit behind in technology advances, but that's going to start changing, according to Adam Gilles, CEO and co-founder of Houston-based Hitched Inc.

The software-as-a-service company acts as a digital marketplace and management solution for service providers renting industrial equipment. It's a platform not too unfamiliar for Airbnb — users can quickly rent machinery online without even having to pick up a phone and talk to anyone.

"I think streamline oil and gas is what everyone is trying to do," Gilles says on the industry's technology evolution. "I've always said that industrial technology will follow the path of consumer technology."

Gilles and his COO and co-founder, Lance Richardson, join this week's episode of the Houston Innovators Podcast to discuss the technology and Hitched's rapid growth and lofty goals.

"Change for a startup is like eating breakfast," Richardson says on the podcast. "Ultimately, [our goal] is to be the marketplace management tool for all of oil and gas."

Since its founding in 2018, Hitched has expanded throughout Texas and its surrounding states, with more expansion on the horizon. A recent $5.5 million series A round led by Houston-based Cottonwood Venture Partners has upped the ante on hiring new salespeople — Gilles says his team will grow to 50 people by the end of the year.

For now, Hitched rents out equipment within the oil and gas industry — where Gilles and Richardson have experience in — but the company will expand into other industrial sectors.

"As we've built this technology, it's industry agnostic," Gilles says. "Energy was the low-hanging fruit for us being that we've been in the industry for 10 years now with our contacts and what not, but frankly it makes sense for us to move into those other spaces."

Neither Gilles or Richardson are Houston natives — both recently relocated to give Hitched its best shot as a fast-growing, ready-for-scale tech company.

"Houston will always be the energy capital of the world, but as energy innovates, there's a good chance it will become a technology hub as well," Gilles says. "I can't see why a technology firm in the energy space wouldn't be based in Houston. It's just doesn't make sense to me."

Listen to the full episode below — or wherever you get your podcasts — and subscribe for weekly episodes.


Ambyint, which has offices in Calgary and Houston, has secured funding from Houston venture capital firms. Getty Images

AI-powered oil and gas startup secures $15 million from Houston VC firms in its series B

Money moves

It's payday for Ambyint. The Canadian startup, which has an office in Houston, has closed its $15 million series B funding round with support from local investors.

Houston-based Cottonwood Venture Partners led the round, and Houston-based Mercury Fund also contributed — as did Ambyint's management team, according to a news release. The money will be used to grow both its Houston and Calgary, Alberta, offices and expand its suite of software solutions for wells and artificial lift systems.

"This funding round is an important milestone for Ambyint, and we're pleased to benefit from unwavering support among our investors to boost Ambyint to its next phase of growth," says Alex Robart, CEO of Ambyint, in the news release. "It is also a proof point for our approach of combining advanced physics and artificial intelligence, deployed on a scalable software infrastructure, to deliver 10 to 20 percent margin gains in a market where meaningful improvements have been hard to achieve."

Ambyint's technology pairs artificial intelligence with advanced physics and subject matter expertise to automate processes on across all well types and artificial lift systems.

Photo via ambyint.com

"Our physics-grounded approach to AI is the difference maker and explains our strong growth in the market as well as our expanding list of marquee customers," says Ryan Benoit, chief technology officer of Ambyint in the release.

The company has mid- to large-sized operators, including Norway-based Equinor and Calgary-based Husky among their customers. According to the release, Ambyint has deployed solutions in every major North American basin.

"Improving margin on producing wells is more important than ever for operators," says Ryan Gurney, managing partner at Cottonwood Venture Partners, in the release. "Ambyint has delivered significant financial benefits for its customers with the application of advanced physics and artificial intelligence, over and above traditional approaches to production optimization. We're excited to see them expand further in the market with solutions that span the entire lifecycle of the well."

According to Ambyint's website, the software promises the ability to increase production levels by 5 percent and lower operating costs by 10 percent.

"Producers flourish — even in a down market — when they understand how exploiting their data effectively can increase productivity and reduce costs," says Adrian Fortino, managing director at Mercury Fund, in the release. "Ambyint turns data into higher yield, more efficient oil and gas production with proven optimization technologies. We're excited to continue our partnership with such a great company and investor syndicate."

Houston-based Hitched has dug up new investment money from a local private equity firm. Pexels

Houston-based digital marketplace for industrial equipment raises $5.5 million series A

money moves

A Houston startup that acts as a digital marketplace for industrial equipment in the oil and gas and construction industries closed a sizeable series A financing round this month.

Hitched Inc. raised $5.5 million in its series A funding led by Houston-based Cottonwood Venture Partners, a growth equity firm that focuses on digital tech solutions in the energy industry.

"It is encouraging to see the support and excitement from CVP," Hitched's Founder and CEO Adam Gilles says in a press release. "With this Series A funding, we plan to continue to shake things up in the oil & gas, construction, and industrial industries."

The company, which was founded in 2018, coordinates the rentals — from hosting and chartering to managing them — all on one centralized platform. Hitched has a catalogue of equipment from generators and cranes to light towers, pumps to forklifts, and the site lists out the cost per day of each piece of machinery.

According to the release, Hitched will use the fresh funds to advance its product development and customer experience as it continues "to reinvent the industrial rental marketplace."

"We're delighted to partner with the Hitched team. The industrial rental segment is incredibly opaque and riddled with inefficiencies," says Ryan Gurney, managing partner of CVP, in the news release. "The Hitched platform provides both a transparent marketplace and an important management tool that allows both the renter and rentee to optimize rental inventory."

Houston-based Tachyus closed a $15 million Series B round. Photo courtesy of Thomas Miller/Breitling Energy

Houston oil and gas software company closes $15 million round led by local PE firm

Money on the mind

It's pay day for Houston-based Tachyus. the data-driven software company has closed its Series B fundraising round at $15 million. The round was led by Houston-based Cottonwood Venture Partners, a private equity firm that funds companies using technology to solve problems within the energy industry.

Tachyus was founded in 2013 in Silicon Valley and recently relocated to Houston. The fresh funds will go into growing its cloud-based, artificial intelligence-enabled platform.

"In this economic environment, oil and gas operators need disruptive tools to optimize their fields," Tachyus CEO and co-founder, Paul Orland, says in a release. "This investment allows us to reach more customers and accelerate the delivery of new technology that improves our clients' business performance."

The company has already grown its client base and has customers in Argentina, Europe, and Asia. Tachyus joins several other tech-focused energy startups in CVP's portfolio, including Ambyint, Novi Labs, and SitePro. Houston-based Tudor, Pickering, Holt & Co. served Tachyus as its financial adviser.

"As the oil and gas industry evolves in the face of new commercial challenges, operators need to focus on getting the best performance from their assets, and Tachyus' technology has a track record of doing just that," says Jeremy Arendt, managing partner of CVP, in the release. "We are excited to partner with the Tachyus team to expand their reach and empower customers to optimize production across their fields."

Tachyus closed its last round in 2016 with a $4 million investment from Primwest, according to CrunchBase. Before that, the company had raised several million.

Last year, the startup restructured its C-suite. Tachyus co-founder Dakin Sloss transitioned from CEO to chairman, and Orland, who was previously CTO, took the reins, according to a release.

Paul Orland is CEO of Tachyus. Photo via tachyus.com

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CultureMap Emails are Awesome

10+ can't-miss virtual business and innovation events in Houston for August

Where to be online

Another month, another roundup of events Houston innovators should attend — and yes, they are still all virtual. From Houston Exponential launching its new virtual database and networking platform to informative workshops and panels, here's what you need to attend this month.

August 5 — IP Agreements Every Startup Should Know About

Every startup should protect their Intellectual Property (IP) as means to protect their developing products and/or concepts, but often do not know where to start. Join The Ion and Baker Bots as we explore different IP agreements your startup should consider.

Details: This event takes place online on Wednesday, August 5, from 1 to 2 pm. Learn more.

August 5 — Texas Founder Hotseat: Pitch Texas Investors & Experts Online

Do you have a startup, or a strong idea for a startup? Could you use blunt, honest feedback on your startup ideas? On this live and interactive online event you can pitch your ideas to a panel of Houston startup investors and experts for ratings and feedback, all from the comfort of your home. Even if you don't want to pitch, you are invited to hear startup ideas and watch how the experts analyze businesses.

Details: This event takes place online on Wednesday, August 5, at 4 pm. Learn more.

August 6 — Bayou City Showcase

Celebrate the launch of the newest startups from Rice University's OwlSpark and University of Houston's RED Labs. Sixteen startups from Class 8 of the program will be pitching and demonstrating during an expo.

Details: This event takes place online on Thursday, August 6, from 2 to 4:30 pm. Learn more.

August 11 — LGBTQ+ In Tech Summit

Capital Factory is hosting its first virtual LGBTQ+ In Tech Summit. The organization is dedicated to increasing diversity in the entrepreneurial and tech community while making our coworking space an inclusive environment for all. Attendees can look forward to a special keynote guest, insightful fireside chats, discussion sessions, a startup showcase, Epic Office Hours, and panels on relevant topics facing the tech ecosystem.

Details: This event takes place online on Tuesday, August 11, from noon to 5 pm. Learn more.

August 12 — Managing Your Digital Presence in a Post-COVID Era

Your startup's digital presence is more important now than ever. In a world where everything has gone virtual, your digital presence is the first thing your potential customers will see prior to contacting you. If you are struggling to create your digital marketing strategy, you're not alone. But fear no more, Allie Danziger of Integrate, is here to help.

Details: This event takes place online on Wednesday, August 12, at 11 am. Learn more.

August 13 — HTX TechList Launch

Join Houston Exponential for a live launch of Houston's innovation discovery platform, HTX TechList, featuring speakers from Start-Up Nation Central, Mayor Sylvester Turner, the Greater Houston Partnership, and a demo by Houston Exponential. Join live virtual breakout sessions moderated by members of the innovation ecosystem influencer. Editor's note: InnovationMap is a media partner for the event.

Details: This event takes place online on Thursday, August 13, at 11 am. Learn more.

August 14 — How Women in Tech Can Affect Change in the Workplace 

The Suffragist movement has long been known for its effectiveness in creating grassroots efforts that created laws to give women the right to vote. 100 years later women are still fighting for equal rights and inclusion. Women's votes will have a tremendous impact on the 2020 election. It's time to organize the collective power of our votes to fight for equality in the workplace.

Details: This event takes place online on Friday, August 14, at 11 am to 12:30 pm. Learn more.

August 18 — Intro to the Texas Startup Scene & Ask Me Anything

Are you an entrepreneur starting a new company? Recently moved your company to Texas? Want to find out how to connect with other entrepreneurs, mentors, and investors in the startup ecosystem? Join Capital Factory VIRTUALLY to hear an overview from experienced entrepreneurs, venture capitalists, and community partners at Intro to Texas Startup Scene & Ask Me Anything.

Details: This event takes place online on Tuesday, August 18, at 2 to 3:30 pm. Learn more.

August 19 — Igniting Innovation: Business Roundtable

Join serial entrepreneur Dr. Juliet Breeze as she moderates a conversation with experienced healthcare executives to explore what the impact of the pandemic has meant to their businesses. They'll share insights regarding ways in which they're adapting and positioning for survival and continued success.

Details: This event takes place online on Wednesday, August 19, at 1 to 2 pm. Learn more.

August 25 — HAN + Carta Cap Table Workshop

The Houston Angel Network has teamed up with Carta, the experts in capitalization table management and valuation software. Carta helps companies and investors manage their cap tables, valuations, investments, and equity plans. During this workshop Carta will discuss cap table basics, common mistakes, and tips for responsible equity management. There will also be a real life cap table scenario where both founders and investors can ask their questions about the often little understood mechanics of cap tables and how they evolve with each fund raise.

Details: This event takes place online on Tuesday, August 25, at 11:30 am to 12:30 pm. Learn more.

August 26 — Equity in Tech: How We Can Do Better

The tech industry is incredibly powerful — not only through the products created, but with its economic force (forecasted to reach 1.7 trillion in the US in 2020). With great power comes great responsibility. Tech can – and must – do better to create and nurture diversity, equity and inclusion within the industry.

Details: This event takes place online on Wednesday, August 26, at 11:30 am to 1 pm. Learn more.

New locally owned food delivery app rolls into Houston area

orange you glad?

A new delivery app aims to give diners a locally owned alternative to the big national names. Meet OrangeCrate, an app that does things a little differently.

Unlike the national brands, each OrangeCrate affiliate is locally owned and has a specific geographic territory. Franchisee Cody Lee has brought the company to two areas of Houston, Fort Bend County and the greater Memorial area. Lee launched in Fort Bend on June 1 and will bring Memorial online August 24.

"We're just like UberEats or DoorDash, but we're locally owned and locally operated, so I have a lot of control and flexibility versus some of the bigger name brands," Lee tells CultureMap.

That flexibility starts with the cost restaurants pay to use OrangeCrate. While national operators might charge as much as 30 percent to deliver a meal, Lee says OrangeCrate's fees are typically half that, usually between 10 and 15 percent.

Customer fees start at $2.99 and go up depending on how far away from the restaurant they live. Most orders also have a $10 minimum.

In terms of control, Lee trains each driver personally and monitors them when they're working. Unlike other services, drivers may only make one delivery at once, and they're only allowed to make OrangeCrate deliveries while they're on the company's schedule.

"I can chat with them and understand if there's an issue and minimize the impact to the customer," Lee says. "There's a lot of control where I can maintain a lot of variables to ensure the customer experience."

From a user's perspective, the experience will feel familiar. Order and pay via OrangeCrate's website and app. A driver — wearing masks and gloves, of course — will arrive with a bright orange bag containing the food order.

Lee says that so far his biggest challenge has been building awareness of the brand and convincing restaurateurs that he's a viable alternative to the more familiar names. From his perspective, restaurants that promote his company can save money on delivery fees and expand their reach, which is particularly important at a time when some people don't feel comfortable eating in restaurants.

"Most people know the bigger guys," Lee says. "It's important to hear Orange Crate, and that we're a local option; we're also a cheaper option. They get the same or better service for their customers."

In Fort Bend County, Lee has started with a roster of mostly national and regional chains like Chili's, 5 Guys, and Chuy's, but he says he's trying to add as many local restaurants as possible. In the Memorial area, he hopes to launch with between 50 and 60 establishments.

"My focus is on local restaurants and earning their business," Lee says. "I will only be adding local restaurants as we go forward."

So far, Lee has seen enough growth that he's optimistic about the service's future. He's got his eyes on Galveston and The Woodlands as potential market for expansive, with Inner Loop neighborhoods in his long term plans.

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This article originally ran on CultureMap.

3 Houston innovators to know this week

who's who

Editor's note: A key attribute of innovators and inventors is the ability to look forward — to see the need for their innovation and the difference it will make. Each of this week's innovators to know have that skill, whether it's predicting the rise of autonomous vehicles or seeing the future of health care.

Sola Lawal, product operations manager at Nuro

Autonomous vehicle delivery service is driving access to food in Houston’s vulnerable communities

Native Houstonian Sola Lawal is looking into how AI and robotics can help increase access to fresh foods in local food deserts. Photo courtesy of Nuro

Sola Lawal has always found himself back in his hometown of Houston. Now working for artificial intelligence and robotics company, Nuro, he sees the potential Houston has to become a major market for autonomous vehicles.

"I think that autonomous vehicles are going to become an industry in the same way your standard vehicles are," Lawal says."One really strong way the Houston ecosystem and Nuro can partner is essentially building out the ancillary."

Lawal shared more on how Houston and Nuro can work together on this week's episode of the Houston innovators podcast. Read more and stream the episode.

Jose Diaz-Gomez, an anesthesiologist at CHI St. Luke's Health

CHI St. Luke's Health has invested in around 40 of the Butterfly iQ devices that can be used to provide accurate and portable ultrasonography on COVID-19 patients. Photo courtesy of CHI St. Luke's

A new, portable ultrasound device has equipped Jose Diaz-Gomez and his team with a reliable, easy-to-use tool for diagnostics and tracking progress of COVID-19 patients. And this tool will continue to help Diaz-Gomez lead his team of physicians.

"Whatever we will face after the pandemic, many physicians will be able to predict more objectively when a patient is deteriorating from acute respiratory failure," he says. "Without this innovation, we wouldn't have been able to be at higher standards with ultrasonography." Read more.

Kimberly A. Baker, assistant professor at UTHealth School of Public Health

UTHealth School of Public Health launched its Own Every Piece campaign to promote women's health access and education. Photo courtesy of Own Every Piece

It was unnerving to Kimberly Baker that proper sex education wasn't in the curriculum of Texas schools, and women were left without resources for contraceptives. So, along with UTHealth School of Public Health, she launched its Own Every Piece campaign as a way to empower women with information on birth control and ensure access to contraceptive care regardless of age, race, relationship status or socioeconomic status.

"You feel like the campaign is talking to you as a friend, not talking down to you as an authority or in any type of shaming way," says Kimberly A. Baker, assistant professor at UTHealth School of Public Health. One of her favorite areas of the website is the "Find a Clinic" page, connecting teens and adult women to nearby clinics, because "one of the biggest complaints from women is that they didn't know where to go," says Baker. Continue reading.