Houston boasts impressive presence on annual list of fastest-growing businesses

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The Inc. 5000 list is out — here's how Houston faired this year. Photo by Natalie Harms

One hundred businesses in the Houston area — including the top-ranked company in Texas — have been named to the 2024 Inc. 5000 list of the country’s fastest-growing private companies.

The 2024 Inc. 5000 ranks companies based on their percentage growth in revenue from 2020 to 2023.

Topping the list of Houston-area companies on the list is The Woodlands-based Segment HR, which notched revenue growth of 7,353 percent. That growth rate earned Segment HR the No. 32 spot on the national list and the No. 1 ranking in Texas.

Founded in 2018 by former federal HR specialist Robin Scott, Segment HR specializes in providing HR support for federal agencies. The company employs remote HR specialists in 23 states and the District of Columbia.

Here’s the list of the top 25 Houston-area companies in the 2024 edition of the Inc. 5000, including each company’s headquarters city, growth rate, and national ranking:

Segment HR, The Woodlands, 7,353 percent, No. 32
Dhanani Private Equity Group, Stafford, 3,617 percent, No. 89
Realty.com, Houston 3,052 percent, No. 107
Turtlebox Audio, Houston, 1,913 percent, No. 209
Amundson Group, Houston, 1,306 percent, No. 332
Valiant Business Lending, Houston, 1,286 percent, No. 337
Strategic Office Support, Houston, 1,192 percent, No. 367
10xTravel, Houston, 1,102 percent, No. 401
NOW Insurance, Houston, 797 percent, No. 559
Explore Group, Houston, 796 percent, No. 562
Specialty1 Partners, Houston, 728 percent, No. 631
FINBOA, Houston, 714 percent, No. 650
BroCoTec, Houston, 687 percent, No. 690
Elite Roofing, Houston, 675 percent, No. 706
Patriot Bolt, Humble, 641 percent, No. 757
CT Sounds, Houston, 624 percent, No. 789
Supreme Jewelers, Friendswood, 525 percent, No. 965
Dometik Commercial Construction, Cypress, 477 percent, No. 1,070
Vape City, Houston, 459 percent, No. 1,116
Highlands Construction, Houston, 451 percent, No. 1,132
Houston Tents and Events, Houston, 438 percent, No. 1,171
Goebel Fasteners, Houston, 385 percent, No. 1,340
Field Industries, Houston, 376 percent, No. 1,366
Coverflex Manufacturing, Houston, 365 percent, No. 1,410

“One of the greatest joys of my job is going through the Inc. 5000 list,” says Mike Hofman, editor-in-chief of Inc. magazine. “To see all of the intriguing and surprising ways that companies are transforming sectors, from health care and AI to apparel and pet food, is fascinating for me as a journalist and storyteller.”

Elsewhere in Texas:

Austin-based Maev led the Austin-area pack with a growth rate of 6,734 percent, earning the No. 38 spot on the national list.
Dallas-based Archer Review led the Dallas-area pack with a growth rate of 5,771 percent, earning the No. 46 spot on the national list.
LaVernia-based Begesh led the San Antonio-area pack with a growth rate of 1,111 percent, earning the No. 396 spot on the national list.

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The sweaters may be ugly, but the success of Specialty1's team is gorgeous. Specialty1/Facebook

Houston company boasting 18,000-percent growth scores top spot on coveted Inc. 5000 list

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Dozens of Houston-based companies have undergone explosive growth in revenue over the last few years, with one such business landing near the top of the prestigious 2023 Inc. 5000 list.

One Houston-based company, Specialty1 Partners, ranked No. 15 nationally, boasting an unimaginable 18,747 percent growth rate from 2019 to 2022. Founded in 2019 by a group of doctors, Specialty1 Partners is a specialty dental services provider focusing on endodontics, oral surgery, and periodontics.

In a press release celebrating their No. 15 spot, the company says it now has more than 350 specialists across 27 states, and over 220 practices.

"We are honored to be recognized by Inc. 5000 for our 3rd consecutive year," stated Daryl Dudum, founder and co-CEO of Specialty1 Partners. "Our tremendous growth reflects our core mission in serving our dental surgical specialists by providing the clinical autonomy they deserve and the business support they need."

While being No. 1 in Houston, Specialty1 Partners is also the fifth highest-ranked Texas business on the list, and No. 1 in the national dental industry. Austin-based CharterUp, an online marketplace specializing in real-time instant transportation booking, ranked No. 2 nationally and No. 1 in the state.

It's not the first award that Specialty1 Partners is celebrating this year. Dudum and his co-founder and co-CEO, Matthew Hadda, were named regional winners for the 2023 EY Entrepreneurs of the Year awards.

Companies on the 2023 Inc. 5000, released August 15, are ranked by percentage growth in revenue from 2019 to 2022. To qualify for the list, a company must have been founded and generating revenue by March 31, 2019. The company also must have been U.S.-based, privately held, for-profit, and independent as of December 31, 2022. The minimum revenue required for 2019 was $100,000; the minimum for 2022 was $2 million.

In all, 482 Texas-based companies made this year’s list, and 95 of those are Houston-based. The report says eight businesses are newly-founded, 59 are repeat honorees, and more than 9,400 jobs were added thanks to these companies.

The 10 remaining Houston-area businesses ranking among the top 500 include:

No. 81 – Hawthorne Capital, 5,574 percent growth rate
No. 89 – Valiant Capital, 5,223 percent growth rate
No. 162 – Intervene K-12, 3,207 percent growth rate
No. 205 – Mission Driven Meat & Seafood, 2,720 percent growth rate
No. 292 – BODY20, 1,931 percent growth rate
No. 360 – Cobalt Engineering and Inspections, La Marque, 1,588 percent growth rate
No. 383 – Jess Lea Boutique, Magnolia, 1,519 percent growth rate
No. 393 – Gasochem International, 1,469 percent growth rate
No. 441 – Supreme Jewelers, Friendswood, 1,315 percent growth rate
No. 489 – Just Made Foods LLC, 1,198 percent growth rate

Here are the other Texas companies appearing in the state’s top 20 are:

No. 2 – CharterUp, Austin, 111,130 percent growth rate
No. 4 – Green Light Distribution, Coppell, 41,090 percent growth rate
No. 13 – Blue Hammer Roofing, Dallas, 19,510 percent growth rate
No. 14 – eTrueNorth, Mansfield, 19,130 percent growth rate
No. 19 – Publishing.com, Austin, 16,497 percent growth rate
No. 85 – Archer Review, Dallas, 5,378 percent growth rate
No. 90 – Norwood, Austin, 5,189 percent growth rate
No. 104 – 24HourNurse Staffing, Pittsburg, 4,520 percent growth rate
No. 110 – Advantis Medical Staffing, Dallas, 4,302 percent growth rate
No. 112 – CloudServus, Austin, 4,215 percent growth rate
No. 144 – Maveneer, Dallas, 3,630 percent growth rate
No. 145 – Ashland Greene, Dallas, 3,617 percent growth rate
No. 152 – Physical Therapy Biz, Dallas, 3,542 percent growth rate
No. 155 – Curis Functional Health, Dallas, 3,444 percent growth rate
No. 175 – TimelyCare, Fort Worth, 3,015 percent growth rate
No. 180 – LeasePoint Funding Group, Austin, 2,920 percent growth rate

The full list of businesses can be found on inc.com.

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This article originally ran on CultureMap.

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Meta to bring $115 million AI data center training initiative to Houston

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Meta and Associated Builders and Contractors have entered into a partnership to invest $115 million in training programs for the construction of AI data centers, with a portion of the project launching in Houston.

The companies announced June 8 that they would open America’s Workforce Academies at ABC chapter training centers in Houston; Indianapolis; Baton Rouge, Louisiana; and Columbus, Ohio.

The academies will offer career readiness and safety training, plus five weeks of hands-on education. Participants who complete the program will be granted a job offer from contractors working on Meta projects.

“The AI revolution is bringing change but also historic opportunities,” Dina Powell McCormick, Meta president and vice-chairman, said in a news release. “Skilled workers electrified rural America one pole at a time. They manned the factories that built the arsenal that won World War II. Now a new generation will pour the foundations and lay the fiber that secures American strength in this new age.”

Overall, the Meta and ABC aim for the academies to build a more sustainable pipeline of skilled construction workers and ensure safety and job readiness for the surging number of data center projects underway.

“This new program is an innovative talent solution that is a critical part of addressing the construction industry’s ongoing workforce shortage and creates an accelerated, new-entrant strategy for job seekers ... The sustained demand for data center construction technicians means the industry needs an all-of-the-above approach to address this shortage and grow the construction talent pool,” Michael Bellaman, ABC president and CEO, added in the release.

In Texas, Meta, the parent company of Facebook and Instagram, has launched or broken ground on data centers in El Paso, Fort Worth and Temple. The company announced in March that it planned to grow its El Paso Data center by 1 gigawatt, representing more than a $10 billion investment.

Apart from Meta, Texas has attracted data center development to power other giants like Google and Amazon in recent years. In turn, Texas has been predicted to become the biggest data center market. Commercial real estate services provider JLL reported this spring that the state could topple Northern Virginia as the world’s largest data-center market by 2030. Similarly, CBRE predicted that Houston's data center capacity could double by 2028. Read more here.

New Houston biotech co. lands $30M for pulmonary fibrosis drug

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Most of us can claim a scar or two on our bodies. But when scarring develops inside the body, it’s known as a fibrotic disorder. A freshly launched Houston company, Oorja Bio Inc., is working on a treatment that can help to repair cells and reduce the damage wrought by the growth of fibrotic tissue in patients.

Late last month, Oorja Bio hit the scene with a pair of big announcements. Not only has the company raised a $30 million Series A thanks to founding investor California-based Westlake BioPartners, but it has also already paved the way for a Phase 2 study to take place this year.

Oorja Bio received Investigational New Drug (IND) clearance from the U.S. Food and Drug Administration (FDA), allowing the company to test its treatment in patients with idiopathic pulmonary fibrosis (IPF), a scarring of the lung tissue. IPF affects more than 150,000 adults in the United States and can result in a range of symptoms from shortness of breath to organ failure and death as it progresses.

Oorja Bio’s lead drug candidate, ORJ-001, was shown in a Phase 1 in-human trial to demonstrate “therapeutically relevant exposure and favorable tolerability” in 64 healthy adult volunteers in whom it was administered daily or weekly, according to a news release. Pre-clinical studies of ORJ-001 showed durable target tissue engagement and biomarker activity in bleomycin-induced lung fibrosis.

Administered subcutaneously, ORJ-001 is intended to improve and even restore function in cells that can reduce the signaling that causes IPF. It stops advancement of IPF and also allows for tissue repair. Currently available treatments for the disease can slow the development of IPF down, but do not address the declining lung function that’s inherent in its progression.

“The clinical and preclinical results from our studies to date give us confidence that ORJ-001 represents a novel treatment approach with the potential to repair and reverse fibrosis and modify disease progression in IPF,” Dr. Janethe Pena, CMO of Oorja Bio, said in the release.

“Our team is energized to deliver on our goal of redefining the future of fibrotic diseases, beginning with ORJ-001,” CEO and founder Sujay Kango added. “As we advance ORJ-001 in the clinic, we are embracing the paradigm shift in our biological understanding of IPF pathology that aligns with the central role of the alveolar epithelium. ORJ-001 was designed with this biology in mind and may provide, for the first time, a therapeutic intervention that repairs and reverses fibrosis and promotes disease modification.”

Most patients live only three to five years following their IPF diagnosis. Soon, ORJ-001 and Oorja Bio could give them a fighting chance.

Axiom Space tops $525M in oversubscribed round, announces Swiss subsidiary

funding boost

Axiom Space tacked on an additional $175 million to a previously announced capital raise, bringing the oversubscribed round to a total of more than $525 million.

Axiom shared in February that it had secured $350 million in a financing round led by Type One Ventures and Qatar Investment Authority. In the latest release from the company, Axiom reports that Japan-based MUFG Bank Ltd. joined the round as a new investor, in addition to continued participation from existing backers.

The funding will go toward developing the company's commercial space station, known as Axiom Station, and the production of its Axiom Extravehicular Mobility Unit (AxEMU) under its NASA spacesuit contract.

“Investor interest in this round outpaced what we set out to raise, which speaks to the moment we’re in,” Jonathan Cirtain, CEO and president of Axiom Space, said in the news release. “Our partners see what is possible in low-Earth orbit, and they see who is positioned to lead it.”

Axiom announced last month that it planned to open a Japanese subsidiary July 1. Earlier this week, it also shared plans to establish Axiom Space Switzerland, a wholly owned subsidiary based in Lucerne that is also expected to begin operations this summer.

The Switzerland subsidiary aims to establish Axiom's presence in Europe and help it partner with the European Space Agency and other space organizations and companies on the continent.

“Europe is a founding leader in the creation of the commercial space economy, and Switzerland is uniquely positioned to convene the government agencies, research institutions, and industrial entities that will shape its next decade,” Cirtain added in a separate release. “Axiom Space Switzerland facilitates the scaling of development and deployment of the infrastructure that will succeed the International Space Station.”

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