Since being acquired by a private equity firm, Houston-based HungerRush has expanded its tech. Photo via Getty Images

Houston-based HungerRush, which is a point-of-sale system that includes payment-processing, digital ordering, customer engagement, and delivery management, continues to spread its impact to businesses big and small.

A New York private equity firm, Corsair Capital, saw the potential for the cloud-based POS software and purchased a majority stake in HungerRush last summer. In 2022, HungerRush was on target to reach $100 million in recurring revenue according to The Deal.

HungerRush aims to serve an industry that according to the tech company, 80 percent think technology is the way to go to assist restaurants with labor shortages and other barriers. HungerRush acquired artificial intelligence text ordering app OrderAI, ordering and marketing company 9Fold LLC and Menufy.com over the past two years to grow its reach.

In the first quarter, the company introduced a comprehensive all-in-one POS system bundle designed to meet the needs of independent operators (IOs), with the overall goal of providing a tech stack to transform the experiences of both restaurant staff and customers. Their partnership with Menufy, which helps IOs drive both growth and profitability through an online website and mobile app ordering experience and currently serves over 15,000 restaurants across the US market, has helped to deliver the transformed IO experience to pizza restaurants and our offerings have quickly expanded to serve Vietnamese and Mexican restaurants as well.

One of the businesses seeing the benefits of platforms like HungerRush is Little Pop’s Pizzeria, which is a Naperville, Illinois-based pizza spot that uses the HungerRush to communicate to help the small business keep up with the large demands of the Chicagoland suburbs.The platform’s help has led to substantial business growth.

“Thanks to having 5,000 loyalty program customers stored in HungerRush, we were able to quickly communicate the new curbside pickup and no contact delivery options,” says HungerRush user Mike Nelson of Little Pop’s Pizzeria. “Getting the word out through email and Facebook has increased our business by 75 percent.”

HungerRush continues to flourish in a crowded marketspace, which Chief Revenue Officer Olivier Thierry attributes to the platform’s accessibility to the audience and variety of features.

“While speaking to small business restaurant owners, we continued to hear the unique challenges they faced around having to navigate multiple delivery app interfaces, labor scheduling solutions, and other tools – resulting in many ending the month under their goal quotas, “ Thierry says. “Our tech tools arm our IOs to be able to manage omnichannel ordering, inventory, loyalty programs, and labor scheduling - but most importantly, support them where they need it the most to be successful in today’s digital world.”
Here's your latest roundup of innovation news you may have missed. Photo via Getty Images

3 Houston startups join accelerators, PE-backed biz names new execs, and more innovation news

short stories

It's been a busy month so far with plenty of Houston startup news, major ecosystem events, and more — and there might be some headlines you may have missed.

In this roundup of short stories within Houston startups and tech, three startups join three different accelerator programs, a Houston innovator publishes a book, and a PE-backed tech company makes changes to its C-suite.

Rivalry Tech snags spot in Comcast NBCUniversal SportsTech Accelerator

Rivalry Tech, the parent company for stadium mobile ordering platform sEATz, was selected for a prestigious program. Photo via rivalrytech.com

A Houston-based startup has been selected for the third cohort for the Comcast NBCUniversal SportsTech Accelerator. Rivalry Tech, a software company that provides mobile ordering technology platform sEATz to stadiums, is one of 10 startups in the program.

The new cohort was selected from over 920 applicants across 40 countries. The six-month program — expanded from its previous 12-week format — allows access to access to leaders and decision makers from across the partner consortium, including NBC Sports, Sky Sports, Comcast Spectacor, Golf, NASCAR, WWE, PGA TOUR, U.S. Ski & Snowboard, USA Swimming, and USA Cycling.

Since the first class in 2021, SportsTech startup alumni have participated in 90 pilots, partnerships, and commercial deals with consortium partners.

"Our alumni from the first two classes of the Comcast NBCUniversal SportsTech accelerator continue to display a prowess for delivering impactful technology while unlocking new revenue opportunities, and I look forward to seeing what powerful innovations and unique partnerships emerge from this year’s program,” says Jenna Kurath, vice president of Startup Partnerships and Head of Comcast NBCUniversal SportsTech, in a news release. "As we evaluated how to bring even more value to our startups and SportsTech partners, a clear need emerged - more time collaborating to tackle complex business challenges. The new six-month format creates additional space for focused testing and experimentation with a curriculum designed for business refinement while allowing the enterprise-ready startups we've selected to continue serving their existing customers.”

PE-backed HungerRush names new execs

HungerRush has a handful of new execs. Photo via Getty Images

Houston-based HungerRush, a cloud software provider for the restaurant industry, announced new leaders within its C-suite. The company, recently backed by New York City-based private equity firm Corsair Capital New York City-based private equity firm Corsair Capital, announced three new executives.

  • David Tabachnick has been named CFO. He joins the company from Acoustic where he most recently served as CAO. He brings more than 20 years’ experience to his new role as CFO, including extensive private equity experience through Vista Equity Partners.
  • Patrick Hughes joins as vice president of finance. He will focus on emphasizing longstanding partnerships, reporting, automation, and environment of controls and advise on growth paths for HungerRush. With more than 15 years’ experience in both accounting and FP&A, he excels in high growth environments focused on technology advancements.
  • Jim DaBroi has been appointed COO. He has more than 25 years of experience in developing and growing customer support operations for various SaaS and payments companies. In his role at HungerRush he will be focused on leading the deployment and installations of customer success and technical support efforts.
  • Ashishh Desai has been named vice president of independent operators sales following the company's acquisition of Menufy acquisition. He was previously a co-founder of Kansas City-based Menufy, an industry-leading online food ordering platform acquired in October 2021 and will continue to build and grow HungerRush’s I/O sector.

“We are excited to attract this caliber of world-class Fintech and PE-based talent with the addition of David and Patrick, who together will be key to our rapid growth strategy. In addition, the appointments of Jim and Ashishh bring deep experience in SaaS, payments and sales to our team that is unmatched," says HungerRush CEO Perry Turbes in a news release. "With our now robust leadership team, we will continue to accelerate our commitment to elevate the restaurant technology space and meet the evolving needs of our customers to help them achieve their own goals in the restaurant industry.”

Heroshe named to nonprofit accelerator's spring cohort

The Heroshe team will participate in a hybrid accelerator program. Photo via heroshe.com

A Houston-based tech startup called Heroshe has joined Virgina-based hybrid accelerator Lighthouse Labs for their spring 2023 cohort. Heroshe, according to its website, is a purpose-driven technology company solving the problem of access to global commerce for African businesses.

"We are on a mission to bridge the commerce gap, simplify imports and empower Africans to access global markets," reads the website.

Its eleventh year, Lighthouse Labs, a nonprofit organization, named eight companies to its Batch 14, which begins March 13 in Richmond, Virginia, and ends with Demo Day on May 23.

“This cohort’s companies offer bold solutions to address current-day problems in industries ranging from logistics to cybersecurity, health/wellness to retail, and real estate to software,” says Paul Nolde, managing executive director at Lighthouse Labs, in a news release. “This group of startups represents the best of innovation and entrepreneurship across the Commonwealth and beyond.”

Around 200 companies applied and were evaluated. Of the applications, 49 moved forward to the first round of reviews, and 17 participated in interviews. All companies will receive $20,000 in equity-free funding, participate in weekly educational programming, get mentorship from Lighthouse’s extensive mentor network, and connect directly with local partners and investors.

Houston innovator publishes first book

Kara Branch's book is available on Amazon. Image via Amazon

A Houston innovator — an award-winning one at that — has published a book Kara Branch is the CEO of Black Girls Do Engineer, an organization on a mission to inspire future women in science, technology, engineering, and mathematics.She released her first book, “What is S.T.E.M.?”

"Many are familiar with the acronym S.T.E.M. but don’t necessarily understand what the term means," reads the book's description. "This book will help you understand what is S.T.E.M. and introduce you to S.T.E.M. careers that falls under each letter."

IncentiFind finds spot in growth-focused program

IncentiFind was selected for a new program. Photo courtesy of IncentiFind

IncentiFind, a Houston-based startup that helps the real estate industry find grant opportunities, has joined Chicago-based Moderne Ventures' inaugural "Passport Class," which is a six-month program providing its participants education, exposure, insight, and relationships to drive customer growth.

"Unlike a traditional accelerator, Moderne Passport is a comprehensive industry immersion program that helps companies of all stages – seed through pre-IPO – hone their go-to-market strategies in the real estate sector, build relationships with industry leaders and execute pilot programs and customer relationships with some of the largest companies in the world," says Carolyn Kwon, Moderne Passport director, in a news release.

IncentiFind, founded by Natalie Goodman, is one of six companies selected for the first batch of startups. Moderne Ventures is a venture capital firm focused on the industries of real estate, finance, insurance, ESG, and home services.

"Moderne most often looks outside its industries to find technologies that can be applicable within them," says Constance Freedman, founder and managing partner at Moderne Ventures. "This latest Passport cohort was curated to include innovative solutions that are highly applicable to some of our industry's most pressing challenges. We look forward to helping these companies optimize their products and services and connect with partners in the Moderne Network who can benefit most from them."

HungerRush offers a point-of-sale system that includes payment-processing, digital ordering, customer engagement, and delivery management capabilities. Photo via Getty Images

New York PE firm takes majority stake in Houston restaurant software company

power shift

A New York City-based private equity firm has purchased a majority stake in Houston-based HungerRush, a provider of cloud-based software for restaurants. Terms of the deal weren’t disclosed.

Corsair Capital, the new majority shareholder, bought its stake from The CapStreet Group, a private equity firm based in Houston. CapStreet, which first invested in the tech company in 2018, retains a minority stake in HungerRush.

“HungerRush is at the forefront of digital transformation in the restaurant industry. We see tremendous growth potential given its highly differentiated technology architecture, impressive sales momentum and customer pipeline, and numerous upsell and cross-sell opportunities,” Jeremy Schein, a partner at Corsair, says in a news release.

Founded in 2003 as Revention, HungerRush offers a point-of-sale system that includes payment-processing, digital ordering, customer engagement, and delivery management capabilities. Customers of the HungerRush 360 product primarily are operators of quick service and fast casual restaurants with numerous locations.

The Dealreported that HungerRush is on track to reach $100 million in annual recurring revenue in 2022.

Last year, HungerRush acquired two companies: Overland Park, Kansas-based Menufy and New York City-based 9Fold. Menufy provides software for restaurant takeouts and deliveries, and 9Fold provides software for restaurant ordering and marketing. A year earlier, HungerRush purchased Ann Arbor, Michigan-based OrdrAI, a provider of text and voice ordering technology for restaurants.

Perry Turbes, CEO of HungerRush, will continue to lead HungerRush. The current shareholders, including the management team, will roll a significant portion of their equity into the Corsair deal.

Corsair’s investment “provides an opportunity for HungerRush to capitalize on organic and inorganic growth opportunities, enhance our product offerings and go-to-market strategy, and continue to support clients with comprehensive payment and restaurant management solutions that are individually tailored to their values and business goals,” Turbes says.

Raymond James was the financial adviser for Corsair, and Simpson Thacher & Bartlett was its legal adviser. William Blair was the financial adviser for HungerRush and CapStreet, and Willkie Farr & Gallagher was their legal adviser.

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Trailblazing Houston entrepreneur brings big ideas to new Yahoo Finance show

tune in

Elizabeth Gore, co-founder and president of Houston's Hello Alice, debuted the first episode of her new video podcast series with Yahoo Finance on Thursday, April 24.

The weekly series, known as "The Big Idea with Elizabeth Gore," will focus on providing information and resources to small business owners and sharing stories of entrepreneurship, according to a news release from Yahoo Finance.

“Entrepreneurs and small business owners drive our country’s economy forward. With a record number of small businesses launching in our communities, my goal is to help every citizen live the American Dream. On the Big Idea, we will break down barriers for entrepreneurs and lift up opportunities for every person wanting to be their own boss,” Gore said in the release.

“By hosting the 'Big Idea' on Yahoo Finance, I’m looking forward to elevating business owners’ stories and providing actionable insights to small business owners at a scale like never before. I am blown away to be joining the number one finance news source that is already trusted by so many.”

Gore was joined by Hello Alice co-founder and CEO Carolyn Rodz in the premiere episode, titled "Got a big idea for a small business? Here's your first step," to discuss the steps they took when launching the business.

Gore and Rodz founded Hello Alice in 2017. The fintech platform supports over 1.5 million small businesses across the nation. It has helped owners access affordable capital and credit and distributed over $57 million in grants to businesses across various industries. The company raised a series C round backed by Mastercard last year for an undisclosed amount and reported that the funding brought the company's valuation up to $130 million at the time.

According to Yahoo Finance, Gore's experience and expertise build on its "mission to be the trusted guide of financial information to all investors, and democratize access to quality content."

“Over the past year, we invested in expanding our programming lineup with the launch of new shows and podcasts, and welcomed new financial creators and influencers into our newsroom,” Anthony Galloway, head of content at Yahoo Finance, added the release. “By diversifying our programming and talent roster, Yahoo Finance is introducing unique points-of-view that make financial topics more engaging, actionable, and personalized. Small business owners are a vital part of our audience, so we’re excited to welcome Elizabeth Gore from Hello Alice, whose insights and expertise will help us serve and connect with this important cohort in meaningful ways.”

The show is available on Spotify, Apple Podcasts, iHeart, Pandora, and Amazon Music for listening. Streamers can view it on yahoofinance.com, Amazon Prime Video, Samsung TV, Fire TV, Vizio, Haystack, DirectTV and other streaming platforms. Watch the premiere here:

7 top Houston researchers join Rice innovation cohort for 2025

top of class

The Liu Idea Lab for Innovation and Entrepreneurship (Lilie) has announced its 2025 Rice Innovation Fellows cohort, which includes students developing cutting-edge thermal management solutions for artificial intelligence, biomaterial cell therapy for treating lymphedema, and other innovative projects.

The program aims to support Rice Ph.D. students and postdocs in turning their research into real-world solutions and startups.

“Our fourth cohort of fellows spans multiple industries addressing the most pressing challenges of humanity,” Kyle Judah, Lilie’s executive director, said in a news release. “We see seven Innovation Fellows and their professors with the passion and a path to change the world.”

The seven 2025 Innovation Fellows are:

Chen-Yang Lin, Materials Science and Nanoengineering, Ph.D. 2025

Professor Jun Lou’s Laboratory

Lin is a co-founder of HEXAspec, a startup that focuses on creating thermal management solutions for artificial intelligence chips and high-performance semiconductor devices. The startup won the prestigious H. Albert Napier Rice Launch Challenge (NRLC) competition last year and also won this year's Energy Venture Day and Pitch Competition during CERAWeek in the TEX-E student track.

Sarah Jimenez, Bioengineering, Ph.D. 2027

Professor Camila Hochman-Mendez Laboratory

Jimenez is working to make transplantable hearts out of decellularized animal heart scaffolds in the lab and the creating an automated cell delivery system to “re-cellularize” hearts with patient-derived stem cells.

Alexander Lathem, Applied Physics and Chemistry, Ph.D. 2026

Professor James M. Tour Laboratory

Lathem’s research is focused on bringing laser-induced graphene technology from “academia into industry,” according to the university.

Dilrasbonu Vohidova is a Bioengineering, Ph.D. 2027

Professor Omid Veiseh Laboratory

Vohidova’s research focuses on engineering therapeutic cells to secrete immunomodulators, aiming to prevent the onset of autoimmunity in Type 1 diabetes.

Alexandria Carter, Bioengineering, Ph.D. 2027

Professor Michael King Laboratory

Carter is developing a device that offers personalized patient disease diagnostics by using 3D culturing and superhydrophobicity.

Alvaro Moreno Lozano, Bioengineering, Ph.D. 2027

Professor Omid Veiseh Lab

Lozano is using novel biomaterials and cell engineering to develop new technologies for patients with Type 1 Diabetes. The work aims to fabricate a bioartificial pancreas that can control blood glucose levels.

Lucas Eddy, Applied Physics and Chemistry, Ph.D. 2025

Professor James M. Tour Laboratory

Eddy specializes in building and using electrothermal reaction systems for nanomaterial synthesis, waste material upcycling and per- and polyfluoroalkyl substances (PFAS) destruction.

This year, the Liu Lab also introduced its first cohort of five commercialization fellows. See the full list here.

The Rice Innovation Fellows program assists doctoral students and postdoctoral researchers with training and support to turn their ideas into ventures. Alumni have raised over $20 million in funding and grants, according to Lilie. Last year's group included 10 doctoral and postdoctoral students working in fields such as computer science, mechanical engineering and materials science.

“The Innovation Fellows program helps scientist-led startups accelerate growth by leveraging campus resources — from One Small Step grants to the Summer Venture Studio accelerator — before launching into hubs like Greentown Labs, Helix Park and Rice’s new Nexus at The Ion,” Yael Hochberg, head of the Rice Entrepreneurship Initiative and the Ralph S. O’Connor Professor in Entrepreneurship, said in the release. “These ventures are shaping Houston’s next generation of pillar companies, keeping our city, state and country at the forefront of innovation in mission critical industries.”

Houston startup Collide secures $5M to grow energy-focused AI platform

Fresh Funds

Houston-based Collide, a provider of generative artificial intelligence for the energy sector, has raised $5 million in seed funding led by Houston’s Mercury Fund.

Other investors in the seed round include Bryan Sheffield, founder of Austin-based Parsley Energy, which was acquired by Dallas-based Pioneer Natural Resources in 2021; Billy Quinn, founder and managing partner of Dallas-based private equity firm Pearl Energy Investments; and David Albin, co-founder and former managing partner of Dallas-based private equity firm NGP Capital Partners.

“(Collide) co-founders Collin McLelland and Chuck Yates bring a unique understanding of the oil and gas industry,” Blair Garrou, managing partner at Mercury, said in a news release. “Their backgrounds, combined with Collide’s proprietary knowledge base, create a significant and strategic moat for the platform.”

Collide, founded in 2022, says the funding will enable the company to accelerate the development of its GenAI platform. GenAI creates digital content such as images, videos, text, and music.

Originally launched by Houston media organization Digital Wildcatters as “a professional network and digital community for technical discussions and knowledge sharing,” the company says it will now shift its focus to rolling out its enterprise-level, AI-enabled solution.

Collide explains that its platform gathers and synthesizes data from trusted sources to deliver industry insights for oil and gas professionals. Unlike platforms such as OpenAI, Perplexity, and Microsoft Copilot, Collide’s platform “uniquely accesses a comprehensive, industry-specific knowledge base, including technical papers, internal processes, and a curated Q&A database tailored to energy professionals,” the company said.

Collide says its approximately 6,000 platform users span 122 countries.

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This story originally appeared on our sister site, EnergyCapitalHTX.com.