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

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

The Agora track of CERAWeek focuses on all things innovation in energy, from panels to pods and even "houses" like the one pictured. CERAWeek/Facebook

5 can't-miss innovation events at CERAWeek featuring Houston speakers

Agora track

Hundreds of energy experts, C-level executives, diplomats, members of royal families, and more are descending upon Houston for the 2019 CERAWeek by IHS Markit. For the second year, the conference will have its Agora track, focused on innovation within the energy sector. The Agora track's events — thought-provoking panels, intimate pods, and corporate-hosted "houses" — will take place in various locations in the George R. Brown Convention Center.

Undoubtedly, many of the panels will have Houston representatives considering Houston's dominance in the industry, but here are five innovation-focused events you can't miss during CERAWeek that feature Houstonians.

March 11: Oil & Gas: Realizing value from digital transformation

In oil and gas, money talks, but justifying the value of integrating new technology or devices can be tricky and hard to navigate. Houston-based Justin Rounce of TechnipFMC and Michelle Pfluger of Chevron Corp. are among the panelists who will attempt to shed light on best practices and new ways of thinking.

Catch the panel at 4:30 pm on Monday, March 11. Learn more.

March 12: Sea Change: Autonomy, automation, offshore & the ocean

Offshore oil and gas rigs are a hotbed for new innovations and technologies — especially when it comes to automation. Two Houstonians join the panel that will discuss emerging tech in offshore E&P — Diana Grauer, TechnipFMC director, External Technology Engagement – North America, and Nicolaus Radford, Houston Mechatronics chief technology officer.

The event takes place at 9:15 am on Tuesday, March 12. Learn more.

March 12: Digital Ledgers: Oil & gas supply chain

Let's talk blockchain integration in oil and gas. The technology has a lot of potential in several aspects of the supply chain, but this panel — which features Andrew Bruce of Houston-based Data Gumbo — will weigh the pros and cons of the technology as well as go over the initial results of early adaptors.

The discussion begins on Tuesday, March 12, at 2.45 pm. Learn more.

March 12: Models of Innovation: Today & tomorrow

Inarguably, the energy's innovation ecosystem differs from that of other industries, but to what end? A panel of professionals — including Houston-based Chevron Technology Ventures President Barbara Burger — will debate the challenges within innovation in energy, innovative corporations, and the best strategies moving forward.

The panel is on Tuesday, March 12, at 2.45 pm. Learn more.

March 14: Urban Resilience in a Changing Climate

You can't have an energy-focused conference without addressing the elephant in the room that is climate change, and Houston-based Sunova CEO John Berger and City of Houston Chief Sustainability Officer Lara Cottingham are the right people to do it.

The panel will take place on Thursday, March 14, at 10:30 am. Learn more.

Can't-miss pods

While panels focus on a challenging topic of discussion, the Agora Pods are platforms for companies to showcase new tech or developments or present their successes. Here are some pods hosted by Houston companies you shouldn't miss.

Penrose's advance process control software can increase production by 10 to 15 percent in downstream oil and gas refineries. Pexels

Houston oil and gas software company is increasing downstream productivity while lowering emissions

Efficient energy

In the next 30 years, the world will need 30 percent more energy due to population growth. While energy production will increase to keep up with demand, there is an increasing concern with the impact on the environment.

"How do you produce more energy without emission increases or more air quality pollution?" asks Erdin Guma, CFO of Penrose Technologies.

According to Guma, Penrose is uniquely well-suited to solve these serious challenges with its advanced process control technology increases the productivity of a chemical plant or refinery by 10 to 15 percent. The increase in productivity means the plants use less fuel to produce the energy. The plant then releases fewer emissions while producing the same amount of energy.

The technology itself is an automation software — similar to autonomous software on a plane. The autonomous operation increases downstream productivity, which brings about the energy efficiency.

"Our autopilot software (like a human operator) can manage and foresee any unexpected disturbances in the plant," Guma explains. "The achievements that the Penrose technology has brought about seemed impossible to chemical and process engineers in the refinery space a few years ago."

Penrose recently signed its first project with one of the biggest downstream firms in the world. With a network of refineries and petrochemical plants around the world, this contract could lead to a global roll out of the Penrose technology.

A ground-breaking technology for O&G
The word "Penrose" is taken from a penrose triangle, an impossible geometrical object. Guma explained that the energy efficiency brought about from their software seemed impossible at first. Penrose has been able to reduce emissions inside plants and refineries by 15 to 20 percent while keeping production at the same level.

In 2007, a chief engineer working at a major oil and gas processing plant in Houston procured the technology for one of his plants. When the engineer saw how well the technology worked, he founded Penrose Technologies in 2017 with Tom Senyard, CTO at Penrose, who originally developed the technology.

After starting the company at the end of 2007, Penrose joined Station Houston. Guma said that by becoming a member, Penrose was able to plug into a large refining and petrochemical network.

"Penrose Technologies is completely self-financed. We worked with [Station Houston] as we finalized the software to find out what potential customers thought of the product. For us, Station Houston has been a great sounding board to potential investors in the company," Guma says.

Guma also explained that while there has been an uptick in innovation in the last few years, the refining and petrochemical business is traditional a slow mover in the uptake of innovation.

"I think more major oil and gas firms are becoming attune to startups and the innovation solutions they offer," Guma says.

He went on to explain that the biggest challenge Penrose faces is perception. Since the software allows plant operators and engineers at the plant to be hands off in the processes, there is a concern with reliability. For industry insiders, any viable product must be reliable even when process conditions at the plant change, which can happen often.

"The Penrose software is maximum hand off control from operators, and the reliability of our software gives us a huge edge in other competing products that can be unreliable," Guma says.

Future growth on a global market
Given the pressing need for more environmentally sustainable energy production, new technology will be adopted in the oil and gas energy. As Guma explains it, there will be no way to continue producing energy as it's been produced for decades because the negative effects of air pollution and emissions will be too severe — particularly in the areas where refineries operate.

"We see the global market for this type of technology as severely underserved," Guma says. "It's a big and sizable market, and I think we can reach a $2 to $3 billion valuation in the next five years."

With a core team of six employees in Houston, Penrose's software is now commercially available, and the company is in full growth mode at this point. The software can be distributed directly to customers, but they are working to develop distribution with major engineering companies as well.

Guma is grateful to be in an environment conducive to energy start-ups. He sees Houston as a major advantage given its proximity to the energy sector.

"No technology rises up in a vacuum. Any new technology needs a good ecosystem to come from," says Guma. "Houston was that ecosystem for Penrose."

From a new energy tech accelerator to an oil and gas podcasts, these three entrepreneurs have some names to remember. Courtesy photos

3 Houston energy tech innovators to know this week

Who's who

While Houston has historically been known as an oil and gas town, it's been slow on the uptake for being known for its energy tech — something these three entrepreneurs are looking to change. From a new energy startup accelerator to an oil and gas podcast, these three energy tech innovators are ones to know this week.

Jacob Corley and Collin McClelland, co-hosts of the Oil and Gas Startups Podcast

Courtesy of Oil and Gas Startups Podcast

Despite having experience in the oil and gas field and in entrepreneurship, Jacob Corley and Collin McClelland learn something new each episode of the Oil and Gas Startups Podcast. The show has seen surprising success to the duo and has been attracting around a thousand new listeners each week.

"You think thing not many people would listen to a podcast that's so focused on something they do for their job, but that's completely wrong," Corley says.

The primary goal for the pair is to share the stories of entrepreneurs who are revolutionizing an industry that tends to be known as a slow adaptor or conservative. Great startups exist here in Houston, and McClelland and Corley want to tell you about them.

"We kind of wanted to bridge the gap between Silicon Valley and oil and gas and show the world what was going on in the industry — and specifically in Houston," McLelland says. Click here to read more.

Patrick Lewis, managing partner of BBL Ventures

Patrick Lewis has worked for years trying to rethink how energy companies and private equity interact with startups. Startups have trouble proving themselves to big oil and gas companies and private equity things energy tech is more trouble than its worth.

"Energy tech is a grossly underfunded industry. Venture capitalists hate it — the hyper cyclical industry, extremely long sales cycles, slow adopters — but that creates opportunities," Lewis says.

But Lewis, managing partner of BBL Ventures, has created a software that tracks oil companies' pain points and then allows him to tap startups that are solving those issues. Now, with BBL Labs, Lewis and his team will help to accelerate these energy tech startups into the market. Click here to read more.

The Oil and Gas Startups Podcast talks to local entrepreneurs who are shaking up the industry. Pexels

Growing Houston podcast is bridging the gap between energy and tech

On air

Collin McLelland and Jacob Corley want you to know that Houston has a whole lot of innovation in the oil and gas industry, and they want to tell you about it.

The two energy professionals launched the Oil and Gas Startups Podcast a few months ago to talk to energy entrepreneurs about oil and gas technology, leadership, and innovation.

"Jake and I really had a mission to shine a light on the oil and gas industry and what was happening in the technology and startup space," McLelland says. "There's a lot of exciting things going on, but not really a medium of content to see it."

The duo interviews a leader or founder of an energy startup — notable ones include Data Gumbo, Blue Bear Capital, and OAG Analytics — on an almost-weekly basis. Corley says he can tell the podcasts are helpful to listeners, because he and McLelland are learning a lot themselves.

"The conversations we have are genuine and authentic. The questions we ask are real," Corley says. "When we schedule something with someone, we purposely try to find out just enough about them to find out if we'll have a good episode with them."

Along with their sincere questioning, the hosts also bring a diversity in industry to the table.

"Collin is the guy who grew up in the field, and I have more of the tech background," Corley says. "From that standpoint, we really compliment each other."

While still new, the podcast has seen a lot of growth — about 1,000 new listeners each week over the past couple weeks — which is surprising to the two hosts since the topic is niche and professional.

"You think thing not many people would listen to a podcast that's so focused on something they do for their job, but that's completely wrong," Corley says.

McLelland says they've seen a shift in the industry. What's been known as a siloed, traditional field is being upended by new technology being introduced into oil and gas companies. A downturn resulted in a need for efficiency and a younger senior-level leadership — that's what's changed in the business, McLelland says, and that's why the podcast is here to document.

"To see the amount of traction the podcast has gotten within oil and gas really validates where the industry is going," McLelland says.

The two want to keep doing what they're doing when it comes to the podcast, while expanding into other media. They've launched a YouTube channel, and are working on regular content for a blog.

"We kind of wanted to bridge the gap between Silicon Valley and oil and gas and show the world what was going on in the industry — and specifically in Houston," McLelland says.


Collin McLelland (right) and Jacob Corley are the hosts of Oil and Gas Startups Podcast.

Houston-based LiquidFrameworks has been acquired by San Francisco-based Luminate Capital. Pexels

Houston startup exits to Bay Area private equity firm

Grand exit

A Houston startup has entered a deal with a San Francisco-based private equity firm, the companies announced on January 10. LiquidFrameworks, which provides cloud-based, mobile field operations management solutions to oil and gas, environmental, and industrial service companies, is now operating under Luminate Capital following the acquisition.

While not all the terms of the deal have been disclosed, Chip Davis, managing partner at Houston Ventures, says the transaction exceeded $50 million of PE investment from Luminate Capital. HV has been involved with LiquidFrameworks since 2012 and has invested a cumulative $6 million, Davis says, and brought in the company's current CEO and head of sales — both of who are still a part of the company's team.

"When we got involved, it was a very small company," says Davis. "As of today, it has enterprise customers of some of the largest oilfield services companies in the world."

According to the release, Hollie Haynes, Mark Pierce, and Sanjay Palakshappa from Luminate have joined the LiquidFrameworks board of directors. The PE fund's investment is a part of the recently closed $425 million Fund II.

"For over a decade, we have served field services companies by reducing revenue leakage, shortening cash collection cycles, and increasing overall operational efficiencies. We have streamlined the day-to-day operations for field services professionals and increased transparency across organizations by transforming previously paper- or excel-based workflows," says Travis Parigi, founder and COO of LiquidFrameworks, in the release.

"With a partner like Luminate Capital, we will continue to invest and develop product capabilities to better serve field services industries that have previously been overlooked by software innovation."

One of LiquidFrameworks' tools is FieldFX, which enhances companies' data accuracy and accelerates revenue capture and cash flow.

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Houston startup rolls out B2B program for onboarding new hires

job training

After seeing success with her internship training and matchmaking platform, Allie Danziger, founder and CEO of Ampersand Professionals, has expanded the concept to include a new hire training service that allows employers to better optimize the onboarding process and have a well-trained new staff member from day one.

In just over a year, Ampersand has worked with over 7,000 professionals through its original concept of upskilling and matching young professionals to internship programs. A few months ago, Danziger and her team expanded to include career development training for students first entering the workforce with the City of Houston's Hire Houston Youth program. Danziger says it was developing out the platform for this program that proved there was a need for this type of training.

"While we have focused on matching professionals with businesses for paid internships, we recognized a further gap with employers that have their own recruiting/talent acquisition teams, or just their own preferred way of bringing on entry-level talent, and didn’t have a need for our matching platform," Danziger tells InnovationMap. "But, they recognized the benefit of our proven training platform that pre-vets and de-risks their hires, and still wanted access to the training for their own hires."

The new program has evolved from training interns to new hires, so parts of the program that focuses on interviewing or applying for a job have been removed. Instead, the 8.5 hours of training focuses on networking, best practices for working with a manager and team, performance reviews, common software training, and more.

Danziger says usually new hires need the most experienced mentor or manager, but they don't usually get that support — especially when it comes to businesses that don't have their own built-out mentorship or training program.

"Ampersand’s new training product fills that gap — it gives employers of any size any easy solution to provide basic job readiness training to employees, access to our team of dedicated coaches, and a detailed report at the end of their training summarizing how their new hire did in the training and any trends recognized and tips for managing this employee based on what the platform uncovered," she says. "Businesses can also sign up for additional coaching sessions and customize training materials, as an add-on if interested."

The program costs the employer $100 per new employee, and checkout online takes less than a minute. Through both this program and the original internship program, Ampersand is constantly evolving its training content.

"These professionals are going through the same training experience that we have proven out over the last year, and we are constantly adding to based on data we see in the user experience," Danziger says.

Danziger recently joined the Houston Innovators Podcast discuss some of the benchmarks she's met with Ampersand, as well as the importance of investing in Gen Z hires. Listen to that episode below.


Houston thought leaders look for extraterrestrial intelligence at Future Focus event

Out of This World

The latest Future Focus discussion held by alliantgroup was out of this world! The company teamed up with InnovationMap to host Dr. Seth Shostak from the SETI Institute at alliantgroup headquarters in the Galleria area. The conversation focused on how new technology is helping in the search for extraterrestrial intelligence.

Dr. Robert Ambrose, alliantgroup strategic advisory board member, was the moderator for the night. He recently retired from NASA as the chief of software, robotics, and the simulation division, and clarified why it is crucial we have these conversations with Dr. Shostak about space and ask the question: Do aliens exist?

“We should be looking up. We should be thinking about what is coming and how we are going to be a part of it. It is an exciting time in space,” said Dr. Ambrose.

Dr. Shostak has been the senior astronomer and director at the SETI Institute in San Francisco for the past 20 years. He explained to the audience there is a difference between the search for aliens and the search for life in the universe.

“SETI stands for Search for Extraterrestrial Intelligence, but it's not the same as the search for life, which it's often confused with,” explained Dr. Shostak. “You might find life on Mars, but it's not going to be very clever. But when you look for extraterrestrial intelligence, you are looking for the kind of aliens you might see on television or in the movies. Are they intelligent, can they communicate with us, and can they hold a conversation?”

Dr. Shostak believes we can infer aliens exist because of the number of planets and stars there are in the universe. But he also believes the search is heating up thanks to new technology and satellites currently being developed.

“Do I think we probably will find them in our lifetime? I honestly do," he said. "You could say that's just wishful thinking and perhaps it is, but it's more than that. It is the fact that the equipment is getting better very quickly."

He bets that by 2035 we will have found and communicated with extraterrestrial intelligence. Both Dr. Shostak and Dr. Ambrose agree, once we have found this life, our world will change for the better.

“We are going to learn all sorts of things about physics and the rules of the universe that we’ve never uncovered,” explained Dr. Ambrose. “Imagine everything we could have taught humans about the universe a couple hundred years ago. What if we can find someone who could teach us those lessons today? What an acceleration we would have.”

This was just the second Future Focus discussion alliantgroup has hosted, and CEO Dhaval Jadav said he hopes to continue to lead these innovative conversations around technology.

“We started this future focus series of roundtables to engage thought leaders and industry experts on topics related to the development of new technologies," Jadav said. "We are living in a most exciting and heady time, with the adoption of new technologies and platforms accelerating at an unprecedented rate.

"In order for us to stay abreast of all these exciting innovations — from web 3 to sportstech, blockchain, AI/quantum computing, the metaverse and our ever-expanding universe, including the search for extraterrestrial intelligence – we must continue to hold thought-provoking dialogues to further explore and chart our path to the future."

You can click here to learn more about alliantgroup’s previous event and what’s to come.

Courtesy photo

Houston hospital ranked best in state according to recent report

top health care

It’s a three-peat for Houston Methodist Hospital.

For the third in a row, Healthgrades has named Houston Methodist the best hospital in Texas and one of the 50 best hospitals in the country. It’s the only Texas hospital in the top 50. Houston Methodist, a 907-bed facility at the Texas Medical Center, earned the same recognition in 2020 and 2021.

Four other hospitals in the Houston area made Healthgrades’ list of the top 250 hospitals in the U.S.:

  • Baylor St. Luke’s Medical Center
  • Houston Methodist Baytown Hospital
  • Houston Methodist Willowbrook Hospital
  • Memorial Hermann – Texas Medical Center

Four Houston hospitals also excelled in several of Healthgrades’ specialty categories:

  • Memorial Hermann Memorial City Medical Center, No. 3 in the state for heart surgery.
  • Memorial Hermann – Texas Medical Center, No. 1 in the state for stroke care and No. 2 for coronary intervention.
  • Houston Methodist Hospital, No. 2 in the state for critical care and No. 2 for pulmonary care.
  • Texas Orthopedic Hospital, No. 1 in the state for joint replacement.

Healthgrades, an online platform for finding physicians, hospitals, and other health care providers, rates hospitals based on clinical outcomes such as rates for patient deaths and treatment complications. For this year’s list, Healthgrades evaluated clinical performance at nearly 4,500 hospitals.

“For almost 25 years, our mission has been to provide consumers with clear and accessible information to make more informed health care decisions,” Dr. Brad Bowman, chief medical officer and head of data science at Healthgrades, says in a news release.

The Healthgrades rankings “provide consumers with increased transparency regarding the care in their areas, and empowers them to make more confident care decisions for themselves and their families,” Bowman adds.

For Houston Methodist, kudos like those from Healthgrades are common. For instance, the hospital last year landed at No. 16 on U.S. News & World Report’s national honor roll for the best hospitals, up from No. 20 the previous year. It was the top-rated Texas hospital on the list.

“These national accolades are something to be proud of, but most important, our patients are benefiting from all of our hard work. Ultimately, they are the reason we need to be one of the best hospital systems in the country,” Dr. Marc Boom, president and CEO of Houston Methodist, said last year in a news release about the U.S. News award.

The Healthgrades honor is one of several pieces of good news for Houston Methodist this year.

The hospital recently unveiled plans for the 26-story Centennial Tower. Scheduled to open in 2027, the $1.4 billion tower will include a larger emergency department and hundreds of patient beds, among other features. The new tower will replace the Houston Main building and West Pavilion.

Shortly after that announcement, the Houston Methodist system said it had received an anonymous $50 million gift. It’s the second largest donation in the system’s 102-year history.

Joining Houston Methodist Hospital in Healthgrades’ national top 250 this year are:

  • Baylor Scott & White Medical Center – McKinney
  • Baylor Scott & White Medical Center – Temple
  • Doctors Hospital at Renaissance in Edinburg
  • Hendrick Medical Center in Abilene
  • Medical City Arlington
  • Medical City McKinney
  • Methodist Hospital in San Antonio
  • St. David’s Medical Center in Austin
  • St. David’s South Austin Medical Center
  • William P. Clements Jr. University Hospital in Dallas