Houston-based mobile commerce startup secures $40M to scale its SaaS business

money moves

P97 Networks, a Houston-based mobile payments company, has fresh funds to scale its operations. Photo via Getty Images

A Houston company that has created a mobile commerce platform for the convenience retail, fuels marketing, and automotive industries has fresh funding to support its growth.

P97 Networks has raised $40 million of venture debt financing from an affiliate of Peak Rock Capital, a leading middle-market private investment firm, according to a news release from the company.

“We will use this new capital to fund P97’s high growth initiatives, which include accelerating user adoption across our Consumer Engagement platform, Energy Transition programs for our clients, and our Mobility Services platform,” said Donald Frieden, president and CEO of P97, in the release.

Frieden says that over the past 18 months, the company has doubled the number of sites on its platform, which includes five largest energy brands in the world, and over 60,000 convenience retail sites in North America.

“With this new capital, we will continue to grow our install base and strategic partnerships," Frieden continues. "We look forward to working with Peak Rock to bring our company to its next stage of growth and further establish our position as the leading provider of mobile commerce technology in the convenience & fuel retailing industry.”

P97's last raise was a series B round in 2019 that saw contribution from Accenture. The startup's series A closed in 2014 and was led by Emerald Technology Ventures.

The company's platform operates as a payments platform as well as a digital marketing solution that prioritizes payment security and customer customization.

“P97 has become the industry standard in the convenience retail and fuel marketing industry, and we are very pleased to help the company reach its next level of scale and growth,” says Nick Basso, managing director at Peak Rock Capital. “We are excited by the compelling opportunities ahead for P97 as the market for mobile payment solutions continues to expand and gain broad adoption by consumers.”

Last year, P97 announced a partnership with Chevron that meant implementing the digital platform into more than 7,800 Chevron and Texaco retail stations across the country.

“Chevron is dedicated to providing products and services for people on the go and continuing to address their needs in the retail of the future,” says Harry Hazen, Chevron senior manager of Americas Marketing, in a 2021 press release. “Our collaboration with P97 strengthens that commitment – delivering a premium consumer experience at Chevron and Texaco locations by enabling our offerings with consistency, speed, consumer value, and security.”

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Houston researcher examines how AI helps and hurts creativity

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As artificial intelligence continues to grow and seeps into spaces like art, design and writing, a Houston researcher is examining its effects on creativity.

University of Houston’s Bauer College Assistant Professor Jinghui Hou, in collaboration with scholars around the world, recently published the paper "The Double-Edged Roles of Generative AI in the Creative Process" in the journal Information Systems Research.

Through the research, the team identified two stages of creativity that AI can influence: ideation and implementation.

In one study, Hou and her team developed a lab experiment to examine the impact of a cutting-edge generative AI tool during the brainstorming or ideation phase on a group of designers with varying levels of expertise.

The study showed that nearly all designers who used generative AI during this stage improved in the creativity of their graphic design work, and that the improvements were substantial and consistent across the board.

“In the first stage, we find that for anyone, including ordinary people and expert designers, AI is very helpful because of its computational power,” Hou said in a news release. “It can go beyond the imagination that humans have. For example, if I wanted to imagine a tiger with wings, it would be hard to see that in my head, but AI can do it easily.”

However, a second study examining the implementation stage found that AI affects professionals differently than novice designers.

The study showed that novice designers continued to improve in all aspects of their work when using AI. But more expert designers did not see significant improvements in the implementation stage. Rather, expert designers who used AI spent 57 percent more time completing their work compared with their peers who did not use AI.

“In the implementation stage, we find that AI is still very helpful for those ordinary people, but it creates more work for expert designers,” Hou said in the release. “This is because the designer has years of training to materialize a piece of artwork. We find that AI uses different techniques to produce creative work. For designers, it can become burdensome to revise what AI made.”

Hou’s paper suggests that AI is most helpful in the brainstorming stage, but hopes to see generative AI developers program tailor the technology for expert-level, professional needs.

“It could give users more freedom to fit the technology to their usage pattern and workflow,” Hou added. “In a sense, it's not about people catering to the AI, but the AI technology catering to people."

World Cup's 14-mile Green Corridor to leave lasting impact on Houston

Big Win

The FIFA World Cup 2026 Houston Host Committee has announced new details about its massive Green Corridor project, including the many improvements that will outlast the iconic sporting event taking place in Houston this summer.

The Green Corridor will be a 14-mile long verdant artery connecting multiple major landmarks in Houston through safe, walkable paths that include shade trees and other improvements. First conceived in 2024 by the Sustainability Subcommittee led by Elizabeth Carlson, it will unite East Downtown, Downtown, Midtown, the Museum District, and Third Ward through a hike and bike trail as well as METRO Rail stops. Though the Green Corridor is beginning its life as a showcase for the city to visitors attending the FIFA World Cup June 14 -July 4, it will remain a permanent installation for Houstonians to travel the city without cars.

Management of the project is being handled by Impact Houston 26, a portion of the Host Committee empowered by the Harris County-Houston Sports Authority’s Sports Authority Foundation to promote long-term benefits to the city after the World Cup. Funding partners include private corporations as well as civic organizations such as the City of Sugar Land and Rice University.

“The Green Corridor reflects what Impact Houston 26 is all about, using the FIFA World Cup as a catalyst to deliver lasting environmental benefits for our city,” Carlson said in a statement. “Through Impact Houston’s pillar on sustainability, we’re able to collaborate with local stakeholders to create not just demonstrations of resilience and innovation but education and engagement in the community, a meaningful legacy long after 2026.”

The corridor will provide access to both Houston Stadium (also known as NRG Stadium) and the FIFA Fan Festival, as well as improve existing paths like the Columbia Tap Trail in Third Ward. These improvements include the installation of shade structures, native plantings, expanding the tree canopy, air quality monitoring devices, and water and bike repair stations.

Impact Houston 26 is also working with local institutions like the Houston Zoo, Greentown Labs, and Discovery Green to install various educational materials along the Green Corridor.

The Green Corridor initiative.Courtesy rendering

Below is a breakdown of other improvements planned or completed as part of the Green Corridor.

  • Downtown Houston Main Street Promenade: Four permanent shade structures, native plants, and expanding the tree canopy by 154% to be implemented by May 2026. Further shade structures and plantings planned for Texas Avenue.
  • East Downtown Management District: Native tree plantings and landscaping in and around the FIFA Fan Festival site to improve first/last mile connectivity around the Green Corridor.
  • Columbia Tap Trail: Installation of 325 solar lights.
  • Stadium Park/Astrodome and TMC/Dryden plus Fannin South Transit Center: Various landscaping and safety enhancements.
  • Midtown Houston: $1.5 million in landscaping and beautification along the Red Line, including over 80 trees, native plantings, water stations, waste receptacles, crosswalk improvements, and public art installations.

The Green Corridor is only one of the World Cup Host Committee's sustainability initiatives. In January, it announced the "New Year, New Hou" program that provides hospitality businesses such as restaurants and hotels with one of three certifications.

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This article originally appeared on CultureMap.com.

Houston humanoid robotics startup Persona AI hires new strategy leader

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Houston-based Persona AI, a two-year-old startup that develops robots for heavy industry, has hired an automation and robotics professional as its head of commercial strategy.

In his new position, Michael Perry will focus on building Persona AI’s business development operations, coordinating with strategic partners and helping early adopters of the company’s humanoids. Target customers include offshore platforms, shipyards, steel mills and construction sites.

Perry previously served as vice president of business development at Boston Dynamics, where he led market identification for robotics, and as an executive at DJI. He holds a bachelor’s degree in Chinese and government studies from the University of Texas at Austin.

“Now is the perfect time to join Persona AI as we rapidly close the gap between what’s possible in the lab versus what’s driving real commercial value,” Perry says. “Building industry-hardened humanoid hardware and production-deployable AI is only one piece of the puzzle.”

“Getting humanoids into operations for heavy industry will require the systematic commercial and operational work that makes enterprises humanoid-ready and defining the business case, solving the integration challenges, and building the playbook for safe, scalable adoption,” he adds. “That’s what I’m here to build.”

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