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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5 Houston innovators who made headlines in June 2025

Featured Innovators

Editor's note: Houston innovators were in the spotlight in June, thanks to earning major accolades for their work on national — and global — levels. Here are five Houston innovators to know right now.

Tianshu Zhai, Chen-Yang Lin, Jing Zhang, HEXAspec co-founders 

HEXAspec has been awarded an NSF Partnership for Innovation grant. Photo courtesy of Rice

HEXAspec, a spinout from Rice University's Liu Idea Lab for Innovation and Entrepreneurship, was recently awarded a $500,000 National Science Foundation Partnership for Innovation grant.

Founded by Tianshu Zhai and Chen-Yang Lin, who both participated in the Rice Innovation Fellows program, as well as Jing Zhang, HEXAspec has developed breakthrough inorganic fillers that allow graphic processing units (GPUs) to use less water and electricity and generate less heat. The company will use the funding to continue enhancing semiconductor chips’ thermal conductivity to boost computing power. Learn more.

Cole Woody, University of Houston student

Cole Woody has earned the Barry Goldwater Scholarship for his research on personalized cancer-fighting vaccines. Photo courtesy UH.

Cole Woody, a biology major in the College of Natural Sciences and Mathematics at the University of Houston, has been awarded a Barry Goldwater Scholarship, becoming the first sophomore in UH history to earn the prestigious prize for research in natural sciences, mathematics and engineering.

Woody was recognized for his research on developing potential cancer vaccines through chimeric RNAs. The work specifically investigates how a vaccine can more aggressively target cancers. Learn more.

Varshini Chouthri, developer of NOMAD

NOMAD aims to help hikers stay in the moment while still utilizing technology. Photo courtesy UH.

An AI-powered, screen-free hiking system developed by Varshini Chouthri, a recent industrial design graduate from the University of Houston, has received Red Dot’s “Best of the Best” award, which recognizes the top innovative designs around the world.

“NOMAD was truly a passion project, inspired by years of hiking growing up, where the outdoors became a place of peace, challenge, and reflection,” Chouthri said.Learn more.

Axiom Space-tested cancer drug advances to clinical trials

mission critical

A cancer-fighting drug tested aboard several Axiom Space missions is moving forward to clinical trials.

Rebecsinib, which targets a cancer cloning and immune evasion gene, ADAR1, has received FDA approval to enter clinical trials under active Investigational New Drug (IND) status, according to a news release. The drug was tested aboard Axiom Mission 2 (Ax-2) and Axiom Mission 3 (Ax-3). It was developed by Aspera Biomedicine, led by Dr. Catriona Jamieson, director of the UC San Diego Sanford Stem Cell Institute (SSCI).

The San Diego-based Aspera team and Houston-based Axiom partnered to allow Rebecsinib to be tested in microgravity. Tumors have been shown to grow more rapidly in microgravity and even mimic how aggressive cancers can develop in patients.

“In terms of tumor growth, we see a doubling in growth of these little mini-tumors in just 10 days,” Jamieson explained in the release.

Rebecsinib took part in the patient-derived tumor organoid testing aboard the International Space Station. Similar testing is planned to continue on Axiom Station, the company's commercial space station that's currently under development.

Additionally, the drug will be tested aboard Ax-4 under its active IND status, which was targeted to launch June 25.

“We anticipate that this monumental mission will inform the expanded development of the first ADAR1 inhibitory cancer stem cell targeting drug for a broad array of cancers," Jamieson added.

According to Axiom, the milestone represents the potential for commercial space collaborations.

“We’re proud to work with Aspera Biomedicines and the UC San Diego Sanford Stem Cell Institute, as together we have achieved a historic milestone, and we’re even more excited for what’s to come,” Tejpaul Bhatia, the new CEO of Axiom Space, said in the release. “This is how we crack the code of the space economy – uniting public and private partners to turn microgravity into a launchpad for breakthroughs.”

Houston ranks No. 4 for HQ relocations and more innovation news to know

Trending News

Editor's note: The top recent Houston business and innovation news includes a high ranking for Houston HQs, an innovative exoskeleton designed for children with cerebral palsy, and incoming drones for Walmart delivery. Catch up on the 5 most-read InnovationMap stories from the latter half of June 2025 below:

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

Houston attracted 31 new corporate headquarters from 2018 to 2024, according to a new report from CBRE. Photo via Getty Images

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. Continue reading.

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

A new study puts Texas at No. 2 among the states most at risk for power outages this summer. Photo via Getty Images

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. Continue reading.

3. Houston team develops innovative soft skeleton for kids with cerebral palsy

UH BRAIN and TIRR Memorial Hermann have developed the MyoStep soft exoskeleton to address motor impairments caused by cerebral palsy. Photo courtesy UH.

A Houston team has introduced the MyoStep soft exoskeleton for children with cerebral palsy.

The soft skeleton aims to address motor impairments caused by cerebral palsy that impact children’s ability to participate in physical activities, self-care and academics. Continue reading.

4. CPRIT grants $22M to bring top cancer researchers to Houston

CPRIT recently granted $93 million to 61 organizations and scientists, including many in Houston, to advance cancer research. Carter Smith/Courtesy of MD Anderson

Several prominent cancer researchers are coming to the Houston area thanks to $22 million in grants recently awarded by the Cancer Prevention and Research Institute of Texas (CPRIT).

The biggest CPRIT recruitment grant — $6 million — went to genetics researcher Jean Gautier. Gautier, a professor of genetics and development at Columbia University’s Institute for Cancer Genetics, is joining the University of Texas MD Anderson Cancer Center to continue his research. Continue reading.

5. California company to launch Walmart drone delivery in Houston

California company to launch Walmart drone delivery in Houston

Walmart Supercenters in Houston will offer Wing drone delivery services by this time next year. Photo courtesy Wing.

California-based Wing will soon touch down in Houston.

The drone delivery company has partnered with Walmart Supercenters in Houston, Atlanta, Charlotte, Orlando and Tampa. According to a news release, Wing’s drone delivery services will be available at 100 Walmart stores across the selected markets by this time next year. Continue reading.

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