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.

Don't miss these February events — from talks with the hall-of-fame beauty business founders to AI summits. Photo courtesy of Rice University

10+ can't-miss Houston business and innovation events for February

WHERE TO BE

From talks with the hall-of-fame beauty business founders to agtech and AI summits, Houston will host a number of events focused on innovation and innovators in February.

Here’s what not to miss and how to register.

Note: This post might be updated to add more events.

Feb. 7 – SheSpace Offsite: Coffee & Connection

Get out of the office and head over to Midtown network with fellow SheSpace members and working women via coffee and conversation.

This event is Friday, Feb. 7, from 2-4 p.m. at Kefita Coffee. RSVP here.

Feb. 11 – Texas Business Hall of Fame x Ion: Creators Series with Founders Janet Gurwitch (Laura Mercier) and Tiffany Masterson (Drunk Elephant)

Take part in Texas Business Hall of Fame’s launch of its Creators 2025 speaker series. Janet Gurwitch, founder of Laura Mercier, and Tiffany Masterson, founder of Drunk Elephant, will discuss lessons learned while building their global retail brands and their successful exits.

This event is Tuesday, Feb. 11, from 8–10 a.m. at the Ion. Register here.

Feb. 11 – How to Start a Startup

Gain insight from Mercury Fund’s Heath Butler and stick around for a happy hour afterward. This session, originally scheduled for Jan. 21, is geared toward entrepreneurs, small business owners, investors and academic partners

This event is Tuesday, Feb. 11, from 5:30–7 p.m. at the Ion. Register here.

Feb. 15 – Ion Family Tech Day: Youth Entrepreneurship with Lemonade Day University

Bring the whole family out to the Ion for a family-friendly entrepreneurial workshop with Lemonade Day. Kids can compete in a pitch competition to win free supplies, and trained instructors will coach kids on how to set goals, develop a business or marketing plan and budget, create a brand, save and invest money, and more.

This event is Saturday, Feb. 15, from 10 a.m.–12:30 p.m. at the Ion. Register here.

Feb. 18 — Female Founders and Friends

Connect with like-minded female founders, funders, and allies at this recurring event. Female Founders & Friends is open to all industries and coffee is provided.

This event is Tuesday, Feb. 18, at 9 a.m. at Sesh Coworking. Register here.

Feb. 20 — Diaspora Africa Conference

Come together to hear inspiring speakers, participate in interactive workshops and network with others who are passionate about African heritage and the contributions of the African diaspora. This event will showcase African innovation and allow attendees to connect with funding sources actively seeking high-growth opportunities in Africa.

This event is Thursday, Feb. 20, from 9 a.m.–6 p.m. at the Ion. Register here.

Feb 20–21 — TMC AI Summit 2025

The TMC AI Summit aims to translate advanced AI innovations into practical solutions for real-world biomedical and health care challenges by bringing together researchers, clinicians, and industry leaders. The event features various workshops and tracks with keynote speakers from Rice University, UTHealth, Microsoft Health Futures and other organizations.

This event is Thursday, Feb. 20, from noon–7 p.m. and Friday, Feb. 21, from 8 a.m.–5 p.m. at TMC Helix Park in the TMC3 Collaborative Building. Register here.

Feb. 25 — Houston Methodist Leadership Speaker Series at Ion - Tesha Montgomery

Hear from Houston Methodist’s SVP of System Patient Access about how the health care system is approaching improvements to patient access and highlighting women in health care leadership. Audiences can participate in a 30-minute discussion following Montgomery’s remarks.

This event is Tuesday, Feb. 25, from 4:45–6 p.m. at the Houston Methodist Tech Hub at the Ion. Register here.

Feb. 26 — Inaugural HTX AgTech Rodeo Innovation Summit 2025

Network with farmers, founders, startups and investors at the first-ever HTX AgTech Rodeo Innovation Summit. The all-day event will feature panels, fireside chats, a Saddle Up Pitch Competition and reception with live music.

This event is Wednesday, Feb. 26, from 8:30 a.m.–8 p.m. Find more information and register here.

Feb. 27 — NASA Tech Talks

Every fourth Thursday of the month, NASA experts, including longtime engineer Montgomery Goforth, present on technology development challenges challenges NASA’s Johnson Space Center and the larger aerospace community are facing and how they can be leveraged by Houston’s innovation community. Stick around after for drinks and networking at Second Draught.


This event is Thursday, Feb. 27, from 6-7 p.m. at the Ion. Register here.

Feb. 27–28 – QVIDTVM x The Ion: Inaugural Hack Day Competition

Investment firm QVIDTVM and the Ion are calling all data scientists, analysts, developers and innovators to a new hack day. Participants will aim to find the total value of real estate platformed by Airbnb globally and can participate in a Fireside Chat on AI with Nick King, founder and CEO of Data Kinetic. Teams can include up to four people and prizes for first through third place will be awarded.

This event is Thursday, Feb. 27, at 9:30 a.m. until Friday, Feb. 28, at 5 p.m. at the Ion. Register here.


Don't miss these January events — from meetups to scale ups. Photo via Getty Images

10+ can't-miss Houston business and innovation events for January

WHERE TO BE

From networking meetups to tech talks, January is filled with opportunities for Houston innovators. Here's a roundup of events you won't want to miss out on so mark your calendars and register accordingly.

Note: This post might be updated to add more events.

January 3 — Cup of Joey Networking

Create a connected culture of coffee shop-open networking across our region. Every Friday morning, you’ll have the opportunity to meet new people and expand your current networks, talk about tech, inspire innovation, and create community.

This event is Friday, January 3, from 8:30 to 10:30 am at the Ion. Click here to register.

January 7 — Discover Your Creative Goldmine: The Millions are in your Micro-Niche

In this high-energy workshop, you’ll learn how identifying and embracing your unique micro-niche can simplify your business and fast-track your success. Through a dynamic mix of strategy and mindset mastery, you’ll leave equipped with actionable insights to transform your brand. Don’t miss this opportunity to align your business for growth and connect with like-minded creatives.

This event is Tuesday, January 7, from 12:30 to 1:30 pm at SheSpace. Click here to register.

January 15 — Angel Investing 101: Introduction to Angel Investing

Join the Urban Capital Network team for an evening of learning, discussion and possibilities as we explore the basics of angel investing and the role it plays in bringing new products and services to market and the impact it has on wealth and job creation. At this event, you’ll learn the key components to successfully navigate the critical-path of investing in private, early-stage companies.

This event is Wednesday, January 15, from 5:30 to 6:30 pm at the Ion. Click here to register.

January 15 — In the Age of the Humanoid Robot

Persona AI cofounder & seasoned roboticist Nicolaus Radford will discuss the promise of embodied AI and the adoption of humanoid robots—two advancements likely to impact every market sector. Humanoids coupled to artificial intelligence are poised to reshape the global work landscape; to learn more, check out the Q&A, and Second Draught happy hour.

This event is Wednesday, January 15, from 5 to 7 pm at the Ion. Click here to register.

January 16 — NAWBO Houston Conference: The Power of Women in Business 2025

This event is your opportunity to connect with influential speakers, successful entrepreneurs, and industry experts who are shaping the future of business. From inspiring keynotes to thought-provoking panels, this conference is designed to provide attendees with actionable insights and strategies to elevate their careers.

This event is Thursday, January 16, from 9 am to 3 pm at Norris Conference Centers - Houston/CityCentre. Click here to register.

January 16 — Houston Methodist Innovation TechHub Event

Join the Houston chapter of the Healthcare Information and Management Systems Society for a discussion on the Houston Methodist TechHub, innovative ideas, and a tour of the Ion.

This event is Thursday, January 16, from 5:30 to 7:30 pm at the Ion. Click here to register.

January 21 — 2025 Female Founders & Friends

This Sesh Coworking event brings together female founders, funders and allies looking for connections with other like-minded go-getters in the Houston community. Connect over coffee with like-minded individuals

This event is Tuesday, January 21, from 9 to 10:30 am at Sesh Coworking. Click here to register.

January 23 — NASA Tech Talks

Discover NASA’s toughest tech challenges–and apply your skills and expertise to solve them.In these presentations, occurring the fourth Thursdays of the month, Mr. Montgomery Goforth and other aerospace subject matter experts will discuss the technology development challenges faced by NASA’s Johnson Space Center and the surrounding Aerospace community in our ongoing efforts as the hub of human spaceflight. Presentations will focus on the ways in which these challenges, and the associated opportunities, can be leveraged by Houston’s innovation community

This event is Thursday, January 23, from 6 to 7 pm at the Ion. Click here to register.

January 28 — Texas Small Business Expo

Texas Small Business Expo is a premier trade show, educational business to business conference, exhibition, and networking event for entrepreneurs, startups and anyone that owns a business, or looking to start their own business. The focus of the conference is targeted on networking, building new business relationships and learning from Industry Experts on how to enhance your business.

This event is Tuesday, January 28, from 4 to 9 pm at the Bell Tower on 34th. Click here to register.

January 30 —TiE Houston's Investing in the Age of AI

For those involved in AI-driven innovation, building new companies, leading established businesses, or exploring investment opportunities in AI, this event is designed for you. Moderated by Sammy Haroon, founder and CEO of AlphaX Decision Sciences, speakers at this event include Major Tony Cucolo, CEO of PCSI, and Yashwanth Hemaraj, general partner at BGV.

This event is Thursday, January 30, from 6 to 9 pm at the Junior League of Houston. Click here to register.

January 31 — Greater Houston Partnership 2025 Meeting

This signature event brings together business and community leaders from across our region to celebrate achievements and set the course for an even brighter future. The Greater Houston Partnership will welcome incoming Board Chair Gretchen Watkins, President, Shell USA, Inc., and honor the contributions of outgoing chair Eric Mullins, as well as present several prestigious awards that highlight the exceptional leadership driving Houston forward.

This event is Friday, January 31, from 11 am to 1:30 pm at Hilton Americas Houston. Click here to register.


Contributing to Texas’ better showing on this year's ranking is an increase in female-focused VC investments. Photo via Getty Images

Texas named No. 2 state for women-led startups thanks to increased VC investment

who runs the world?

A more than 120 percent surge in female-focused venture capital investments helped push up Texas’ ranking in an annual study of the best states for women-led startups.

In Merchant Maverick’s 2021 report on the best states for women-led startups, Texas lands at No. 2, up from No. 6 the previous year. Colorado retains its No. 1 ranking from last year. Merchant Maverick judged each state based on several gender-specific metrics, such as VC funding.

Contributing to Texas’ better showing this year is the increase in female-focused VC investments. Merchant Maverick says the state’s five-year total for female-focused VC investments grew from the $365 million reflected in the 2020 report to $814 million in this year’s report. That’s a jump of 123 percent.

The $814 million total puts Texas in fourth place among the states in terms of female-focused VC investments over a five-year span. California leads this category ($6.7 billion), followed by New York ($4.7 billion), and Massachusetts ($1 billion).

The Lone Star State “has cultivated a business-friendly reputation that appears to be attracting a high volume of women-led organizations and startups,” says Merchant Maverick, a product comparison website for small businesses.

The state doesn’t do as well when it comes to average income, according to Merchant Maverick, but with no state income tax, women business owners can expect an average $62,945 yearly income to go further in Texas than it would in most other states.

Across the country, Merchant Maverick says that thanks to rising startup hubs like Houston, Miami, Phoenix, and Boulder, Colorado, “more funding opportunities are available to female entrepreneurs than ever before.”

Here are some of the Texas statistics cited in this year’s report:

  • 27 percent of businesses with employees are led by women, putting Texas at No. 13 among the states.
  • At 1.55 percent, Texas sits at No. 22 for the share of women business owners.
  • Texas ranks 19th for the average yearly income of women business owners ($62,945).
Black Girl Ventures has launched in Houston. Photo courtesy of Black Girl Ventures

Organization launches Houston chapter to drive investment and social capital for women of color

a seat at the table

Everyone knows the statistics. Female-founded startups receive around 2 percent of the venture capital funding, according to some reports, and when you break that down into women of color receiving funding, it's even less.

A Washington D.C.-based organization is looking to give these women seats at the table with the launch of Black Girl Ventures in Houston. BGV is based in The Cannon locally, and is looking to partner with other Houston organizations to grow its presence.

"Black Girl Ventures is here — not just in Houston but across the country and the globe — to be able to help create social and financial capital for black and brown women," says Sharita M. Humphrey, a Houston financial adviser and team lead for BGV in town.

The organization launched its local chapters — including Houston, Miami, Durham, Philadelphia, and Birmingham —right around the same time this spring to create a huge splash across the country. The organization, which is made up of 31 employees and leaders across the country, focuses on events and programing for female founders of color to prepare them for financial growth — including the networks and know how needed for that process.

"Being an African-American women founder I did see that there was a need for more social and financial capital," Humphrey says. "We have access — especially living here in Texas — to financial capital, but we don't understand how important that social capital is to be able to obtain that financial capital."

The cornerstone event for Houston's BGV is set to be in August. It's a pitch event with a live crowdfunding campaign. The event, which uses SheRaise online to fundraise, has been done for a few years coinciding with SXSW — this year's was done digitally. Now, with the launch of the five markets, each of the new chapters will get to fo their on versions locally.

The event requires the eight companies that will pitch to: be revenue earning, have a black or brown female founder, and be based in the Houston area. The first, second, and third place startups will win prizes, and each of the startups will be able to raise money online through SheRaise. Companies can apply online for the event.

Humphrey says she has big plans for her BGV chapter, including raising $1 million for her Houston members — something she is determined to make happen with the right amount of social capital help and financial coaching.

"When they get to the table with venture capitalists, they'll be ready," she says.

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3 Houston innovators who made headlines in May 2025

Innovators to Know

Editor's note: Houston innovators are making waves this month with revolutionary VC funding, big steps towards humanoid robotics, and software that is impacting the agriculture sector. Here are three Houston innovators to know right now.

Zach Ellis, founder and partner of South Loop Ventures

Zach Ellis. Photo via LinkedIn

Zach Ellis Jr., founder and general partner of South Loop Ventures, says the firm wants to address the "billion-dollar blind spot" of inequitable distribution of venture capital to underrepresented founders of color. The Houston-based firm recently closed its debut fund for more than $21 million. Learn more.

Ty Audronis, CEO and founder of Tempest Droneworx

Ty Audronis, CEO and founder of Tempest Droneworx

Ty Audronis, center. Photo via LinkedIn.

Ty Audronis and his company, Tempest Droneworx, made a splash at SXSW Interactive 2025, winning the Best Speed Pitch award at the annual festival. The company is known for it flagship product, Harbinger, a software solution that agnostically gathers data at virtually any scale and presents that data in easy-to-understand visualizations using a video game engine. Audronis says his company won based on its merits and the impact it’s making and will make on the world, beginning with agriculture. Learn more.

Nicolaus Radford, CEO of Persona AI

Nicolaus Radford, founder and CEO of Nauticus RoboticsNicolaus Radford. Image via LinkedIn

Houston-based Persona AI and CEO Nicolaus Radford continue to make steps toward deploying a rugged humanoid robot, and with that comes the expansion of its operations at Houston's Ion. Radford and company will establish a state-of-the-art development center in the prominent corner suite on the first floor of the building, with the expansion slated to begin in June. “We chose the Ion because it’s more than just a building — it’s a thriving innovation ecosystem,” Radford says. Learn more.

Pharmaceutical giant plans $5.9B Houston facility and more news to know

Trending News

Editor's note: It's time to look back at the top Houston innovation news from the second half of May 2025. From exciting VC raises to major manufacturing facilities in the works, here are the most-read InnovationMap stories from May 16-30.

1. Pharmaceutical giant looks to bring $5.9 billion facility to Houston

Eli Lilly is looking to build an active pharmaceutical ingredient manufacturing facility at Generation Park. Rendering courtesy of McCord

Pharmaceutical company Eli Lilly and Company is looking to build a $5.9 billion active pharmaceutical ingredient (API) manufacturing facility in Houston, according to a recent filing with the state of Texas.

The proposal states that the project plans to employ 604 full-time direct employees at the site upon ramp-up completion. Construction is projected to begin in 2026, with a completion target of 2030 and commercial operations beginning in 2031. Continue reading.

2. Houston VC firm closes $21M fund for underrepresented founders

Zach Ellis, founder and general partner of South Loop Ventures, which recently closed its debut fund. Photo via LinkedIn

Houston-based South Loop Ventures recently closed its debut fund for more than $21 million, led by investments from Rice Management Company and Chevron Technology Ventures.

The funds will go toward teams with at least one underrepresented founder of color working in the energy, health, space, sports and fintech sectors. Additional investments came from The Great Commission Foundation of the Episcopal Diocese of Texas, Texas CapitalBank and others organizations. Continue reading.

3. Houston-founded startup raises $1.2M and moves headquarters to Detroit

ChurchSpace, founded in Houston by Day Edwards and Emmanuel Brown, is moving to Detroit. Photo courtesy ChurchSpace.

Houston-founded ChurchSpace, known as the Airbnb for churches, has formed an official partnership with the City of Detroit and will relocate its headquarters.

The announcements come as the company successfully closed a $1.2 million oversubscribed funding round. The round was led by California-based Black Ops Ventures, with participation from Michigan Rise and Dug Song of Minor Capital, who is also the founder of the Song Foundation, another Michigan-based organization. Continue reading.

4. Houston aerospace co. soars with first U.S. test flight of hypersonic engine

Venus Aerospace successfully completed the flight test of its hypersonic engine, the first of an American-developed engine of its kind. Photo courtesy Venus Aerospace

Houston-based Venus Aerospace successfully completed the first U.S. flight test of its proprietary engine at a demonstration at Spaceport America in New Mexico.

Venus’ next-generation rotating detonation rocket engine (RDRE) is supported by a $155,908 federal Small Business Innovation Research (SBIR) grant from NASA and aims to enable vehicles to travel four to six times the speed of sound from a conventional runway. The recent flight test was the first of an American-developed engine of its kind. Continue reading.

5. Houston regenerative medicine company expands lab for future trials

FibroBiologics has opened a new 10,000-square-foot Houston lab to scale up research efforts and pave the way for in-house manufacturing. Photo via Fibrobiologics.com

A Houston regenerative medicine company has unveiled new laboratory space with the goal of expanding its pioneering science.

FibroBiologics uses fibroblasts, the body’s most common type of cell, rather than stem cells, to help grow new cells. With its new space, the publicly traded company, which has more than 240 patents issued or pending, will be even better equipped to power forward with its research. Continue reading.

Houston university to launch artificial intelligence major, one of first in nation

BS in AI

Rice University announced this month that it plans to introduce a Bachelor of Science in AI in the fall 2025 semester.

The new degree program will be part of the university's department of computer science in the George R. Brown School of Engineering and Computing and is one of only a few like it in the country. It aims to focus on "responsible and interdisciplinary approaches to AI," according to a news release from the university.

“We are in a moment of rapid transformation driven by AI, and Rice is committed to preparing students not just to participate in that future but to shape it responsibly,” Amy Dittmar, the Howard R. Hughes Provost and executive vice president for academic affairs, said in the release. “This new major builds on our strengths in computing and education and is a vital part of our broader vision to lead in ethical AI and deliver real-world solutions across health, sustainability and resilient communities.”

John Greiner, an assistant teaching professor of computer science in Rice's online Master of Computer Science program, will serve as the new program's director. Vicente Ordóñez-Román, an associate professor of computer science, was also instrumental in developing and approving the new major.

Until now, Rice students could study AI through elective courses and an advanced degree. The new bachelor's degree program opens up deeper learning opportunities to undergrads by blending traditional engineering and math requirements with other courses on ethics and philosophy as they relate to AI.

“With the major, we’re really setting out a curriculum that makes sense as a whole,” Greiner said in the release. “We are not simply taking a collection of courses that have been created already and putting a new wrapper around them. We’re actually creating a brand new curriculum. Most of the required courses are brand new courses designed for this major.”

Students in the program will also benefit from resources through Rice’s growing AI ecosystem, like the Ken Kennedy Institute, which focuses on AI solutions and ethical AI. The university also opened its new AI-focused "innovation factory," Rice Nexus, earlier this year.

“We have been building expertise in artificial intelligence,” Ordóñez-Román added in the release. “There are people working here on natural language processing, information retrieval systems for machine learning, more theoretical machine learning, quantum machine learning. We have a lot of expertise in these areas, and I think we’re trying to leverage that strength we’re building.”

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