Texas female-founded companies raised more than $1 billion in 2024, VC data shows

by the numbers

Female-founded companies in the U.S. raised $38.8 billion, up 27 percent from the previous year, but deal count dropped, according to VC data from PitchBook. Photo via Getty Images.

Female-founded companies in Dallas-Fort Worth may rack up more funding deals and more money than those in Houston. However, Bayou City beats DFW in one key category — but just barely.

Data from PitchBook shows that in the past 16 years, female-founded companies in DFW collected $2.7 billion across 488 deals. By comparison, female-founded companies in the Houston area picked up $1.9 billion in VC through 343 deals.

Yet if you do a little math, you find that Houston ekes out an edge over DFW in per-deal values. During the period covered by the PitchBook data, the value of each of the DFW deals averaged $5.53 million. But at $5,54 million, Houston was just $6,572 ahead of DFW for average deal value.

Not surprisingly, the Austin area clobbered Houston and DFW.

During the period covered by the PitchBook data, female-founded companies in the Austin area hauled in $7.5 billion across 1,114 deals. The average value of an Austin deal: more than $6.7 million.

Historically, funding for female-established companies has lagged behind funding for male-established companies. In 2024, female-founded companies accounted for about one-fourth of all VC deals in the U.S., according to PitchBook.

PitchBook noted that in 2024, female-founded companies raised $38.8 billion, up 27 percent from the previous year, but deal count dropped 13.1 percent, meaning more VC for fewer startups. In Texas, female-founded companies brought in $1.3 billion last year via 151 deals. The total raised is the same as 2023, when Texas female founders got $1.3 billion in capital across 190 deals.

“The VC industry is still trying to find solid footing after its peak in 2021. While some progress was made for female founders in 2024, particularly in exit activity, female founders and investors still face an uphill climb,” says Annemarie Donegan, senior research analyst at PitchBook.

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Sassie Duggleby, Margo Jordan, Stephanie Murphy, Emily Cisek and Nina Magon were named to Inc.'s Female Founders 500 list for 2025. Photos courtesy the company's websites and social media pages.

5 Houston female founders land on coveted Inc. 500 list

girl power

Five Houston female founders have been recognized by Inc. Magazine for their innovations and for leading their industries forward.

The women were named to Inc.'s Female Founders 500 list, which features female entrepreneurs based in the U.S. The group attracted approximately $9 billion in 2024 revenue and $10.6 billion in funding, according to Inc.

“Female founders know what struggle is, but they’re also experts of improvisation, adaptability, and creativity. The women featured on this year’s list exemplify these qualities," Diana Ransom, Inc. executive editor said in a release. "Through times of uncertainty, their unwavering dedication and steadfast leadership are not only inspiring but vital to driving progress.”

The Houston founders are:

  • Emily Cisek, founder of The Postage, now known as Paige, a comprehensive life planning and succession software platform for families and small businesses. The company won the Female-Owned Business category in the 2023 Houston Innovation Awards.
  • Sassie Duggleby, CEO and co-founder of Houston space tech and engine company Venus Aerospace. The company won the in the Deep Tech Business category in the 2024 Houston Innovation Awards. Duggleby also serves on the Texas Space Commission board of directors.
  • Stephanie Murphy, CEO and executive chairman of Aegis Aerospace, which provides space services, spaceflight product development, and engineering services. Murphy also serves on the Texas Aerospace Research and Space Economy Consortium Executive Committee.
  • Margo Jordan, founder of adolescent mental health startup Enrichly, which uses AI-driven self-esteem development and behavioral insights to boost student performance.
  • Nina Magon, founder of Nina Magon Studio / Nina Magon Consumer Products, a residential and commercial interior design company.

"With every family and community we're able to impact through accessible estate planning, we're driven to do even more. Being recognized on Inc.’s Female Founders list is an incredible honor and a testament to the impact we’re making in fintech and beyond," Cisek said in a news release.

Duggleby echoed that sentiment on LinkedIn.

"While I don't know many of the ladies on this list, I do know they're some of the most tenacious role models in entrepreneurship. I'm beyond honored to be included among them," Duggleby added in a post.

Twenty-eight Texas female founders made this list, including Kendra Scott and Allison Ellsworth, co-founder of Poppi, and many others. See the full list of winners here.

Texas takes a stumble on an annual list that identifies the top states for female founders. Photo via Getty Images

Texas ranks as a top state for female entrepreneurs

women in business

Texas dropped three spots in Merchant Maverick’s annual ranking of the top 10 states for women-led startups.

The Lone Star State landed at No. 5 thanks in part to its robust venture capital environment for women entrepreneurs. Last year, Texas ranked second, up from its No. 6 showing in 2021.

Merchant Maverick, a product comparison site for small businesses, says Texas “boasts the strongest venture capital scene” for women entrepreneurs outside California and the Northeast. The state ranked fourth in that category, with $6.5 billion invested in the past five years.

Other factors favoring Texas include:

  • Women solely lead 22 percent of all employees working for a business in Texas (No. 4).
  • Texas lacks a state income tax (tied for No. 1).

However, Texas didn’t fare well in terms of the unemployment rate (No. 36) and the rate of business ownership by women (No. 29). Other Texas data includes:

  • Average income for women business owners, $52,059 (No. 19).
  • Early startup survival rate, 81.9 percent (No. 18).

Appearing ahead of Texas in the 2023 ranking are No. 1 Colorado, No. 2 Washington, No. 3 California, and No. 4 Arizona.

Another recent ranking, this one from NorthOne, an online bank catering to small businesses, puts Texas at No. 7 among the 10 best states for women entrepreneurs.

NorthOne says Texas provides “a ton of opportunities” for woman entrepreneurs. For instance, it notches one of the highest numbers of women-owned businesses in the country at 1.4 million, 2.1 percent of which have at least 500 employees.

In this study, Texas is preceded by Colorado at No. 1, Nevada at No. 2, Virginia at No. 3, Maryland at No. 4, Florida at No. 5, and New Mexico at No. 6. The rankings are based on eight metrics, including the percentage of woman-owned businesses and the percentage of women-owned businesses with at least 500 employees.

A new report finds that the Lone Star State is ideal for female entrepreneurs — and more Houston innovation news. Photo via Getty Images

Texas ranks as top state for female entrepreneurs, Houston startup wins VC competition, and more

short stories

Houston is starting summer strong in terms of innovation news, and there might be some headlines you may have missed.

In this roundup of short stories within Houston startups and tech, the Lone Star State ranks in the top 10 best states for women in business, a software startup rolls out a new tool, $5,000 small business grants are up for grabs, and more.

Texas named a top state for female entrepreneurs

The Lone Star State is prime for women entrepreneurs. Graphic courtesy

Banking platform NorthOne has ranked the top 10 states for women in entrepreneurship. Colorado took the No. 1 spot, but Texas ranked at No. 7. The report factored in data across eight metrics for all 50 US states including percentage of women-owned businesses, percentage of women-owned businesses with over 500 employees, number of women-owned businesses, startup survival rate, women-to-men pay ratio, unemployment rate for women, overall unemployment rate, and more.

According to the report, Texas has seen a boom in business growth over the last couple of years. The Lone Star State ranks seventh nationally for the percentage of new businesses at 18.18 percent and has the second highest startup survival rate in our top 10 at 79.63 percent.

"Texas offers a ton of opportunities for female entrepreneurs, too. It has one of the highest numbers of women-owned businesses in the country at a whopping 1.4 million, 2.11 percent of which have over 500 employees," reads the blog post. "That’s the fourth highest overall compared to all 50 states."

Pandata Tech selected for prestigious space innovation program

Pandata Tech is headed for St. Louis. Photos courtesy of Pandata

Pandata Tech was selected from hundreds of national applicants to join a first-of-its-kind program from the United States Government's National Geospatial-Intelligence Agency in partnership with Missouri Technology Corporation and St. Louis-based Capital Innovators.

The 13-week hybrid program will be held at NGA's Moonshot Labs in St. Louis. Eight companies have been selected for the third cohort, and they are tasked with tackling the NGA's four mission imperatives.

Pandata Tech's Data Quality Method (DQM) platform addresses the NGA's mission of Data Access and Data Integrity.

"We are grateful and excited to work directly with a team at NGA to explore multiple use cases that address internal cybersecurity risks and data validation," says Jessica Reitmeier, co-founder of Pandata Tech.

sEATz wins visiting VC competition

This Houston startup is headed to D.C. Photo courtesy

Revolution Ventures visited Houston and was hosted by the HX Venture Fund. On the visit, investors got a peek into the Houston innovation ecosystem, meet startups, and more. Managing Partner Tige Savage, who spoke with InnovationMap ahead of his visit, posed a challenge to startups to showcase their dream day in Houston. The winner would receive a trip to Washington D.C., where Revolution is based, and the Revolution team would return to the Bayou City to execute the dream day.

Houston-based in-venue mobile ordering solution sEATz won the competition with its submission, which included visiting Houston's sports stadiums, experiencing NASA, drinking at breweries, and BBQ. The submission can be viewed here.

Liongard expands its offerings

Houston-based Liongard's Roar technology is helping its customers get all their IT services under one umbrella. Image via Getty Images

Houston-based IT software and automation platform Liongard announced its collaboration with Gradient MSP to automate billing reconciliation. The new tool allows users to pull actual usage data from the customer systems and manage complex billing details more efficiently.

“We’re excited to streamline our Partners’ operations with an automated billing reconciliation solution that’s powerful and intuitive,” says Matt Miller, Liongard's vice president of product, in a news release. “We have the data that partners need to automate this manual process and partnering with Gradient to fully automate that workflow saves MSPs time and money.”

Liongard and Gradient MSP have been testing the integration for several months and have received rave reviews from their Partners.

“We’ve already been through our first billing cycle and I’m eager to deploy more inspectors and creatively address other reconciliation needs with the use of custom metrics,” says Brandon Myers, CEO at IMS Solutions Group. "In the end, the combined customization allows us to address unique situations. We all win together.”

Hello Alice launches latest fund opportunity

Hello Alice is giving out $5,000 grants to small businesses. Photo by Hero Images

Hello Alice has announced its latest round of the $5,000 Small Business Growth Fund. The fund provides the capital entrepreneurs need to make their next big move. Each recipient will receive a $5,000 grant, provided by Mastercard, to accelerate their growth and help make 2022 the year of their small business.

Eligible businesses must:

• Be a for-profit business

• Have less than $1 million in 2021 gross annual revenue

• Have a commitment to their customers and community

• Have a clear plan for use of funds If you applied and were not selected for a previous round of the program, you are welcome to submit a new application.

Hello Alice will evaluate applications based on any new information and judge it against a new pool of applicants. The deadline for this round is May 20, 2022, at 5 pm. Apply now.

A new report finds that the Lone Star State is ideal for female entrepreneurs. Photo via Getty Images

Texas named a top state for women-led startups

this one's for the ladies

Who runs the world? According to Merchant Maverick's inaugural Best States for "Women-Led Startups'' study, Texas is a great place for women to be in charge.

The Lone Star state cracked the top 10 on the list, earning a No. 6 spot according to the small business reviews and financial services company, which based the study on eight key statistics about this growing segment of the economy. Colorado (at No. 1), Washington, Virginia, Florida, and Montana were the only states to beat out Texas on the rankings—leading the Merchant Maverick team to conclude that "the part of the country that lies west of the Mississippi is great for startups led by women entrepreneurs."

Women-led startups in Texas received $365 billion in VC funding in the last five years, the report found. This is the seventh largest total among U.S. states. Too, about 20 percent of Texans are employed at woman-led firms, which is the fifth highest percentage among states. Roughly 35 percent of employers in Texas are led by women.

A few other key findings that work in female founders' favor: The startup survival rate in Texas is nearly 80 percent. And a lack of state income tax "doesn't hurt either," the report says.

Still there are shortcomings. On a per capita basis, only 1.27 percent of Texas women run their own business. The average income for self-employed women is also relatively low ranking among states, coming in around $55,907 and landing at 31st among others.

This is not the first time Texas has been lauded as a land of opportunity for women entrepreneurs. A 2019 study named it the best state for business opportunities for women. Houston too has proven to support success for the demographic. The Bayou City was named in separate studies a best city for female entrepreneurs to start a business and to see it grow.

Still, as many findings have concluded, the realities of the pandemic loom for all startups and small business owners. The Merchant Maverick study was careful to add: "The pandemic has changed the economic landscape over the past year, and often for the worse.

"This means that not every metric may be able to accurately gauge how a state might fare amidst the pandemic," the report continues. "To help factor in COVID's impact, we included some metrics that take 2020 into account, but it will be a while until we get a full picture of the pandemic's devastation.""

This week's innovators to know roundup includes Fiona Mack of JLABS, Grace Rodriguez of Impact Hub Houston, and Emily Cisek of The Postage. Photos courtesy

3 female Houston innovators to know this week

who's who

Editor's note: In today's Monday roundup of Houston innovators, I'm introducing you to three female innovators across industries — from life science to impact innovation.

Fiona Mack, head of JLABS @ TMC

Fiona Mack has joined JLABS @ TMC as head of the incubator. She shares her vision for the lab on this week's episode of the Houston Innovators Podcast. Photo courtesy of JLABS

Fiona Mack is among the latest additions to the Houston innovation ecosystem, as she joined JLABS @ TMC just a few months ago. On her plate right now is assessing the needs of the incubator's 49 member companies in the portfolio and understanding the needs of the Texas innovation ecosystem.

"As I learn more about the history of life science sector in Texas, over the past 20 years there has been an impetuous to build up this critical mass of companies here to really make it a strong hub that competes with the energy sector to make it a pillar of the economy here," Mack says. Read more and stream the podcast interview.

Grace Rodriguez, executive director and CEO of Impact Hub Houston

Grace Rodriguez and her team at Impact Hub Houston is in for a busy week. Courtesy of Impact Hub Houston

Grace Rodriguez has a marathon of a week ahead of her — but it's an exciting one. The fourth annual Houston Innovation Summit is going on now, and she's really passionate about the theme.

"The focus on education and policy is really interesting to me — it's not just about tech and business anymore," Rodriguez says. "It's really about how we are supporting businesses in the face of the pandemic, climate change crises — floods, fires, hurricanes — the entire world is being affected by these crises. ... [We need to focus on] how we are making sure that people are aware of everything that's happening and how we can innovate solutions." Read more about the latest from Impact Hub and what THIS events not to miss.

Emily Cisek, founder of The Postage

The Postage is a new company that uses technology to help ease the experience of afterlife responsibilities for family members. Photo courtesy of The Postage

Three years ago, Emily Cisek was struck with immense grief when she lost three family members back to back. She says she learned first-hand how arduous the process of wrapping up someone's life is and how it can take away from the grieving process.

Cisek's grief planted a seed and she has the idea for The Postage, a digital platform that helps collect information and digital assets in one place to ease with affair planning.

"I think the way The Postage has [made planning more available] it's provided a price point, an understanding and steps involved that are more easily accessible; no matter what age group, what race, what your background is, your religion, anything like that, you're able to sign up," says Cisek. Read more.

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Texas plugs in among states at highest risk for summer power outages in 2025

hot, hot, hot

Warning: Houston could be in for an especially uncomfortable summer.

A new study from solar energy company Wolf River Electric puts Texas at No. 2 among the states most at risk for power outages this summer. Michigan tops the list.

Wolf River Electric analyzed the number of large-scale outages that left more than 5,000 utility customers, including homes, stores and schools, without summertime electricity from 2019 to 2023. During that period, Texas experienced 7,164 summertime power outages.

Despite Michigan being hit with more summertime outages, Texas led the list of states with the most hours of summertime power outages — an annual average of 35,440. That works out to 1,477 days. “This means power cuts in Texas tend to last longer, making summer especially tough for residents and businesses,” the study says.

The Electric Reliability Council of Texas (ERCOT), which operates the electric grid serving 90 percent of the state, predicts its system will set a monthly record for peak demand this August — 85,759 megawatts. That would exceed the current record of 85,508 megawatts, dating back to August 2023.

In 2025, natural gas will account for 37.7 percent of ERCOT’s summertime power-generating capacity, followed by wind (22.9 percent) and solar (19 percent), according to an ERCOT fact sheet.

This year, ERCOT expects four months to surpass peak demand of 80,000 megawatts:

  • June 2025 — 82,243 megawatts
  • July 2025 — 84,103 megawatts
  • August 2025 — 85,759 megawatts
  • September 2025 — 80,773 megawatts

One megawatt is enough power to serve about 250 residential customers amid peak demand, according to ERCOT. Using that figure, the projected peak of 85,759 megawatts in August would supply enough power to serve more than 21.4 million residential customers in Texas.

Data centers, artificial intelligence and population growth are driving up power demand in Texas, straining the ERCOT grid. In January, ERCOT laid out a nearly $33 billion plan to boost power transmission capabilities in its service area.

Houston ranks among top 5 cities for corporate HQ relocations in new report

h-town HQ

The Houston area already holds the title as the country’s third biggest metro hub for Fortune 500 headquarters, behind the New York City and Chicago areas. Now, Houston can tout another HQ accolade: It’s in a fourth-place tie with the Phoenix area for the most corporate headquarters relocations from 2018 to 2024.

During that period, the Houston and Phoenix areas each attracted 31 corporate headquarters, according to new research from commercial real estate services company CBRE. CBRE’s list encompasses public announcements from companies across various sizes and industries about relocating their corporate headquarters within the U.S.

Of the markets included in CBRE’s study, Dallas ranked first for corporate relocations (100) from 2018 to 2024. It’s followed by Austin (81), Nashville (35), Houston and Phoenix (31 each), and Denver (23).

According to CBRE, reasons cited by companies for moving their headquarters include:

  • Access to lower taxes
  • Availability of tax incentives
  • Proximity to key markets
  • Ability to support hybrid work

“Corporations now view headquarters locations as strategic assets, allowing for adaptability and faster reaction to market changes,” said CBRE.

Among the high-profile companies that moved their headquarters to the Houston area from 2018 to 2024 are:

  • Chevron
  • ExxonMobil
  • Hewlett-Packard Enterprise
  • Murphy Oil

Many companies that have shifted their headquarters to the Houston area, such as Chevron, are in the energy sector.

“Chevron’s decision to relocate its headquarters underscores the compelling advantages that position Houston as the prime destination for leading energy companies today and for the future,” Steve Kean, president and CEO of the Greater Houston Partnership, said in 2024. “With deep roots in our region, Chevron is a key player in establishing Houston as a global energy leader. This move will further enhance those efforts.”

According to CBRE, California (particularly the San Francisco Bay and Los Angeles areas) lost the most corporate HQs in 2024, with 17 companies announcing relocations—12 of them to Texas. Also last year, Texas gained nearly half of all state-to-state relocations.

In March, Site Selection magazine awarded Texas its 2024 Governor’s Cup, resulting in 13 consecutive wins for the state with the most corporate relocations and expansions.

In a news release promoting the latest Governor’s Cup victory, Gov. Greg Abbott hailed Texas as “the headquarters of headquarters.”

“Texas partners with the businesses that come to our great state to grow,” Abbott said. “When businesses succeed, Texas succeeds.”

CBRE explained that the trend of corporate HQ relocations reflects the desire of companies to seek new environments to support their goals and workforce needs.

“Ultimately, companies are seeking to establish themselves in locations with potential for long-term success and profitability,” CBRE said.

SpaceX test rocket explodes in Texas, but no injuries reported

SpaceX Update

A SpaceX rocket being tested in Texas exploded Wednesday night, sending a dramatic fireball high into the sky.

The company said the Starship “experienced a major anomaly” at about 11 pm while on the test stand preparing for the 10th flight test at Starbase, SpaceX’s launch site at the southern tip of Texas.

“A safety clear area around the site was maintained throughout the operation and all personnel are safe and accounted for,” SpaceX said in a statement on the social platform X.

CEO Elon Musk ’s SpaceX said there were no hazards to nearby communities. It asked people not to try to approach the site.

The company said it is working with local officials to respond to the explosion.

The explosion comes on the heels of an out-of-control Starship test flight in late May, which tumbled out of control. The FAA demanded an investigation into the accident.

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