3 Houston innovators to know this week

who's who

This week's roundup of Houston innovators includes Phillip Yates of Equiliberty, Chris Quintanilla, of Mexcor International, and David Hudson of Circulus. Courtesy photos

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from diversity and inclusion tech to sustainable plastics — recently making headlines in Houston innovation.

Phillip Yates, founder of Equiliberty

Phillip Yates joins the Houston Innovators Podcast to discuss two initiatives he's launching to support diverse founders in Houston. Photo courtesy of Equiliberty

Houston is currently celebrating its first Black Entrepreneurship Week, thanks to local entrepreneur and lawyer, Phillip Yates, who founded Equiliberty — a tech company focused on connecting and supporting entrepreneurs of color.

BEW has put on several opportunities — from the Black Market, which will allow people to shop local Black merchants, to a special Giving Tuesday event to support Black-focused nonprofits in Houston. Specifically, Yates wants to target a multi-generational crowd — that's what's goring to drive lasting changes.

"When you have a wealth initiative, you can't just talk to the parents or the youth — you're still going to have a missing link there," Yates says on last week's episode of the Houston Innovators Podcast, explaining the week's wealth challenge that will reinforce this idea. Click here to read more.

Chris Quintanilla, chief sales officer at Mexcor International

This Houston company created its own in-house tech infrastructure — led by Chris Quintanilla — to stay competitive within the alcohol distribution industry. Photo courtesy of Mexcor International

When Chris Quintanilla wasn't happy with his company's software, he built it himself. Mexcor International is a Houston-based importer and distributor of wine, spirits, and other types of alcohol. On his own, Quintanilla has developed 46 dashboards that supply details about things such as wine and beer inventory, contacts for account managers, product catalogs, and key performance indicators (KPIs) for the sales team.

Quintanilla says in-house creation of this system aligns with Mexcor International's culture of "wearing multiple hats" to move the business forward, demanding in-house innovation on the tech front.

"If you want to see something happen, you have to grab the bull by the horns and do it yourself," he says. "We are a medium-sized company. We just hired a true IT person in the last two or three years. We don't have million-dollar budgets for big IT departments. We kind of figure it out as we go." Click here to read more.

David Hudson, founder and CEO of Circulus

Houston-based Circulus, which just received a $100 million credit facility, focuses on innovative plastics recycling. Photo via circulus.com

Circulus Holdings secured a $100 million credit facility from Riverstone Credit Partners, which has an office in Houston. This "green" loan is aimed at supporting environmental sustainability.

David Hudson, founder and CEO of Circulus, says in a news release that the credit facility "enables Circulus to rapidly develop a broad network of facilities and further the company's commitment to sustainable manufacturing. We look forward to supporting green-based jobs and preserving our environment for future generations."

Circulus, a portfolio company of Houston-based private equity firm Ara Partners, recently opened its first plastics recycling facility. The 110,000-square-foot plant is in Riverbank, California, near Modesto. It employs 45 people. So far, other Circulus plants, each of which will be larger than the California facility, are planned for Alabama, Oklahoma, the Midwest, and the Northeast. Click here to read more.

Phillip Yates joins the Houston Innovators Podcast to discuss two initiatives he's launching to support diverse founders in Houston. Photo courtesy of Equiliberty

Houston entrepreneur launches diversity-focused fund, programming to address inequality in tech

HOUSTON INNOVATORS PODCAST EPISODE 111

Phillip Yates is juggling a lot. The Houston lawyer started Equiliberty, a technology company that's part financial resource and part social network, to help diverse communities create lasting wealth. Now, he's also launching Diversity Fund Houston — a $3 million initiative to support diverse tech founders — ahead of the inaugural Black Entrepreneurship Week, which Yates is hosting in Houston starting Saturday, November 27.

While it is a handful, all three initiatives align with Yates's goal to move the needle on improving equity when it comes to access to capital, finding a community, and creating institutional change. Just like most Black professional, he's faced his share of challenges — but he's persevered thanks to his mentors, family, and supportive network.

"Everytime I failed, there was somebody there that made sure I stayed on track," Yates shares on the Houston Innovators Podcast.

Now Yates, across his efforts, wants to help create this same type of support for others. Equaliberty connects users to a hyper-local network and mentor, as well as relationships to financial institutions and key resources.

"We're doing two things — we're creating a new asset class for banks and financial institutions, but then also we're building a group of wealth creators in the community who will take ownership in the geographical region they live in, which isn't happening," Yates says. "We throw the word 'gentrification' around, but we never attack it at the root problem, and a lot of times it's ownership."

Ultimately, Yates says he wants to help to move the needle on eliminating poverty in the United States — it's not going to happen overnight or with him alone. One huge step toward this goal is raising awareness of the issues, and that's what he hopes to do with Black Entrepreneurship Week.

BEW will feature several opportunities — from the Black Market, which will allow people to shop local Black merchants, to a special Giving Tuesday event to support Black-focused nonprofits in Houston. Specifically, Yates wants to target a multi-generational crowd — that's what's goring to drive lasting changes.

"When you have a wealth initiative, you can't just talk to the parents or the youth — you're still going to have a missing link there," Yates says on the show, explaining the week's wealth challenge that will reinforce this idea.

Access to wealth is a key focus for Yates, who announced the launch of Diversity Fund Houston this week co-founded by emerging fund managers Tiffany Williams, Kiley Summers, and Yates and in partnership with Bank of America, Houston Area Urban League, Hello Alice, Impact Hub Houston, Equiliberty, DivInc., and Prairie View A&M University.

The fund will target early-stage companies founded by diverse entrepreneurs — tapping into an underserved community, not just because it's the right thing to do but because there are real opportunities. And now is the time to make these changes, Yates says.

"The Black American community is at a point where millennials are coming into their own," Yates says explaining how he's at the opportune point in his life. "I'm stable enough and still young enough where I can make these contributions — and the same thing with my co-founders. ... Time is of the essence for our community."

Yates shares more on what to expect at BEW and with the new fund on the podcast. Listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.


This week's roundup of Houston innovators includes Ryan Sitton of Pinnacle, Julia P. Clarke of Raba Kistner Inc., and Phillip Yates of Equiliberty. Courtesy photos

3 Houston innovators to know this week

who's who

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from data analysis to fintech — recently making headlines in Houston innovation.

Ryan Sitton, CEO of Pinnacle

Ryan Sitton joins the Houston Innovators Podcast to discuss his career in data and reliability. Photo courtesy of Ryan Sitton

Data analysis for big industry came first — before the technology that can support this analysis even entered the scene. Ryan Sitton, CEO and founder of Pinnacle, a Houston company that offers its clients streamline data management, joined the Houston Innovators Podcast to discuss his passion is using data to drive better decision making to drive more sustainable and reliable operations.

"I was basically doing data analytics in the mid 2000s before it was sexy. I was pulling together data in chemical plants and refineries and trying to predict how these plants would behave with the data I had," Sitton says. "I realized early on how there was so much opportunity here — but we don't have the technologies or the methodology to do it."

But over the years, the technology has caught up and now Sitton is able to provide clients with even more data-driven solutions. Click here to read more.

Julia P. Clarke, senior geotechnical manager in Houston at Raba Kistner Inc.

Julia P. Clarke knows what it's like to be the only woman in a room. Photo courtesy of Raba Kistner

Women in STEM are in Houston, writes Julia P. Clarke, an engineer at a local firm in town, but there's work to be done to making them stay. Supporting women across the science, technology, engineering, and mathematics fields begins in the classroom, she writes in a guest column for InnovationMap.

"I grew up in Jamaica and then immigrated to the United States. It wasn't until I was recognized by my high school teacher, Mrs. Owens, for my natural ability to excel in subjects like science and math that I fell in love with the basis of engineering," she explains. "Without the mentorship and investment of teachers and professionals throughout my career, I would not be where I am today." Click here to read more.

Phillip Yates, founder of Equiliberty

This founder is bridging the wealth gap for Black Houstonians. Photo courtesy of Equiliberty

Phillip Yates, a Houston-area attorney, envisioned a company that could solve the societal problems that perpetuate poverty. He started Equiliberty, a technology company that's part financial resource and part social network, to help provide underrepresented individuals with educational resources to secure financial success and a space to use their talents to create community-driven wealth.

The platform provides business development services, educational resources, access to capital, and mentorship to help users find financial independence.

"When I created Equiliberty, I envisioned a world where everybody has access to mentors," said Yates in a press release. "I know firsthand the importance of having a supportive network and community dedicated to your success." Click here to read more.

Equiliberty is an app with a mission to create generational and community-driven wealth. Photo via Getty Images

New Houston fintech platform aims to close the wealth gap in Texas

Communities creating wealth

Systemic and institutional racism have been constants in the history of the United States. Despite protests in response to police violence against Black Americans and last summer's skyrocket sales of anti-racism books, awareness of racial history and inequalities are still lacking — especially when it comes to wealth.

Houstonian Phillip Yates is all too familiar with the uneven economic playing field historical injustices and racial inequality has sowed.

Prior to the end of slavery, the Homestead Act of 1862 gave U.S. citizens a huge commodity — land. Nearly 70 years later, banks and mortgage lenders further segregated neighborhoods by refusing loans to creditworthy Black Americans due to their race and neighborhood. And after centuries of economic disparity, the Society for Human Resource Management reports that Black men and women still make less than their white male colleagues.

Yates, a Houston-area attorney, envisioned a company that could solve the societal problems that perpetuate poverty. He started Equiliberty, a technology company that's part financial resource and part social network, to help provide underrepresented individuals with educational resources to secure financial success and a space to use their talents to create community-driven wealth.

The platform provides business development services, educational resources, access to capital, and mentorship to help users find financial independence.

Yates' time as a program coordinator with the Houston Area Urban League Entrepreneurship Center also helped inspire his vision. During his time at the center, he co-created the organization's Small Business Development University.

According to the company's website, Equiliberty's vision is to show "communities of creators and makers how to use their existing resources and talents to grow into thriving businesses, create jobs, develop strong local economies and contribute to global prosperity."

"When I created Equiliberty, I envisioned a world where everybody has access to mentors," said Yates in a press release. "I know firsthand the importance of having a supportive network and community dedicated to your success."

Users can have the opportunity to build connections and find mentors using Equiliberty's in-platform messaging and video chat options, and networking opportunities.

Historic marginalization isn't the only obstacle in the way of wealth equality. Awareness is just as crucial.

A 2019 study found that Americans severely underestimated racial economic equality and thought the 2016 Black-white wealth gap was 80 percent smaller than it was. Recently, the Brookings Institution found that the average white family in America had a net worth of $171,000 — almost 10 times as much as the average Black family's net worth of $17,150 in 2016.

In addition to its launch, the fintech startup kicked off a concurrent campaign, BlkTheGap. The initiative is a call-to-action for community leaders, business owners, government officials, financial institutions and others to close the historic wealth gap in capital markets and support Black communities.

In a press release shared with InnovationMap, Yates states that he's "witnessed far too many people make the sacrifice for a better life only to see their dreams deferred, or in some cases, die at the graveyard, due to lack of access to capital and other resources needed to own financial assets and grow wealth in our economy."

"Where [investment apps] Robinhood, Stash and Acorn have it made it easier for the everyday person to begin investing in stocks, Equiliberty will make it possible for communities to invest in themselves," he said.

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Houston ecommerce scale-up company acquires Amazon advertising partner

all aboard

A Houston tech company has tapped an Amazon partner in a strategic acquisition and is bringing the company's full team on board.

Cart.com acquired Ohio-based Amify, a company that provides optimization and advertising solutions. The terms of the deal were not disclosed but Cart.com will on board Amify’s entire employee base, including its founder Ethan McAfee, CEO Chris Mehrabi, and COO Christine McCambridge.

As chief delivery officer, Mehrabi will take the helm of Cart.com’s professional services business and McCambridge will lead Cart.com’s marketplace services team as vice president of marketplace services operations.

“I’m happy to welcome the entire Amify team to Cart.com and have industry veterans Chris Mehrabi and Christine McCambridge join our leadership team,” Cart.com Founder and CEO Omair Tariq says in a news release. “Amify has been widely recognized for their expertise and technology and we’re excited to leverage their experience to help our customers maximize their potential across channels.”

Cart.com's membership will have access to Amify's proprietary technology platform, including advertising, creative content, supply chain strategy, and analytics. The company, which was founded in 2011, currently supports over 50 global brands and manages approximately $1 billion in gross merchandise value. According to LinkedIn, Amify has over 50 employees.

“We could not be more excited to join Cart.com and leverage the company’s resources and scale to deliver value to both our customers and employees,” Mehrabi says. “I’m honored to step into the role of Chief Delivery Officer and contribute to Cart.com’s incredible growth story and innovative reputation.”

Founded in Houston in 2020, Cart.com provides comprehensive physical and digital infrastructure for online merchants. The company raised a $60 million series C and grown its customer base to over 6,000 users. After making several acquisitions, the company also operates 14 fulfillment centers nationwide.

Earlier this year, Tariq sat down with the Houston Innovators Podcast to share a bit about how the company is currently in scale-up mode.

Houston health tech innovator collaborates on promising medical device funded by DOD

team work

The United States Department of Defense has awarded a grant that will allow the Texas Heart Institute and Rice University to continue to break ground on a novel left ventricular assist device (LVAD) that could be an alternative to current devices that prevent heart transplantation and are a long-term option in end-stage heart failure.

The grant is part of the DOD’s Congressionally Directed Medical Research Programs (CDMRP). It was awarded to Georgia Institute of Technology, one of four collaborators on the project that will be designed and evaluated by the co-investigator Yaxin Wang. Wang is part of O.H. “Bud” Frazier’s team at Texas Heart Institute, where she is director of Innovative Device & Engineering Applications Lab. The other institution working on the new LVAD is North Carolina State University.

The project is funded by a four-year, $7.8 million grant. THI will use about $2.94 million of that to fund its part of the research. As Wang explained to us last year, an LVAD is a minimally invasive device that mechanically pumps a person’s own heart. Frazier claims to have performed more than 900 LVAD implantations, but the devices are far from perfect.

The team working on this new research seeks to minimize near-eventualities like blood clot formation, blood damage, and driveline complications such as infection and limitations in mobility. The four institutions will try to innovate with a device featuring new engineering designs, antithrombotic slippery hydrophilic coatings (SLIC), wireless power transfer systems, and magnetically levitated driving systems.

Wang and her team believe that the non-contact-bearing technology will help to decrease the risk of blood clotting and damage when implanting an LVAD. The IDEA Lab will test the efficacy and safety of the SLIC LVAD developed by the multi-institutional team with a lab-bench-based blood flow loop, but also in preclinical models.

“The Texas Heart Institute continues to be a leading center for innovation in mechanical circulatory support systems,” said Joseph G. Rogers, MD, the president and CEO of THI, in a press release.

“This award will further the development and testing of the SLIC LVAD, a device intended to provide an option for a vulnerable patient population and another tool in the armamentarium of the heart failure teams worldwide.”

If it works as hypothesized, the SLIC LVAD will improve upon current LVAD technology, which will boost quality of life for countless heart patients. But the innovation won’t stop there. Technologies that IDEA Lab is testing include wireless power transfer for medical devices and coatings to reduce blood clotting could find applications in many other technologies that could help patients live longer, healthier lives.

Houston investor on SaaS investing and cracking product-market fit

Houston innovators podcast episode 230

Aziz Gilani's career in tech dates back to when he'd ride his bike from Clear Lake High School to a local tech organization that was digitizing manuals from mission control. After years working on every side of the equation of software technology, he's in the driver's seat at a local venture capital firm deploying funding into innovative software businesses.

As managing director at Mercury, the firm he's been at since 2008, Gilani looks for promising startups within the software-as-a-service space — everything from cloud computing and data science and beyond.

"Once a year at Mercury, we sit down with our partners and talk about the next investment cycle and the focuses we have for what makes companies stand out," Gilani says on the Houston Innovators Podcast. "The current software investment cycle is very focused on companies that have truly achieved product-market fit and are showing large customer adoption."



An example of this type of company is Houston-based RepeatMD, which raised a $50 million series A round last November. Mercury's Fund V, which closed at an oversubscribed $160 million, contributed to RepeatMD's round.

"While looking at that investment, it really made me re-calibrate a lot of my thoughts in terms what product-market fit meant," Gilani says. "At RepeatMD, we had customers that were so eager for the service that they were literally buying into products while we were still making them."

Gilani says he's focused on finding more of these high-growth companies to add to Mercury's portfolio amidst what, admittedly, has been a tough time for venture capital. But 2024 has been looking better for those fundraising.

"We've some potential for improvement," Gilani says. "But overall, the environment is constrained, interest rates haven't budged, and we've seen some potential for IPO activity."

Gilani shares more insight into his investment thesis, what areas of tech he's been focused on recently, and how Houston has developed as an ecosystem on the podcast.

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