Houston-based HighRadius has launched a new platform. Photo via Getty Images

Houston-based HighRadius — which recently hit $1 billion valuation, reaching unicorn status — has launched a new learning platform.

Highako Academy by HighRadius, launched the platform to help credit and collections teams build certain skills faster. Highako features over 650 expert-led videos, community forums, and resources. The new on-the-job training platform, which announced its launch this week, is used by more than 2,800 companies, according to a press release.

"Our customers have asked us for an online self-service learning platform, and that led us to launch highako.com as a beta platform last year," says HighRadius COO Urvish Vashi in the release. "With 10,000+ users on the platform and a vibrant partner ecosystem consisting of credit groups, collection agencies, attorneys and industry associations, we see this echoing a larger trend of millennials and Gen Z gravitating towards microlearning platforms."

In honor of the launch of Highako Academy, the organization has announced plans for Credit SkillCon '21, a lunch-and-learn event from June 16 to July 20. The 53 live workshops, panel discussions, and on-demand sessions will focus on topics including negotiations, credit risk assessment, bankruptcy litigation, collections strategy and more. .

"We continually hear from members about wanting more and different educational options," says Jon Flora, president and CEO of NACM Business Credit Service. "The last year has changed much about how we answer this call, and now we have a solution. We are the first NACM affiliate to partner with Highako Academy."

HighRadius and its AI-powered SaaS technology, which streamlines accounts-receivable and cash-management processes, are growing fast. The company, which processes over $2.23 trillion in receivables transactions annually, per the release, raised $300 million in March. At the time of that raise, HighRadius, founded in 2006, employed more than 1,000 people around the world — and was hiring.

"Our goal has always been to build a long-lasting business that outlasts all of us," Sashi Narahari, founder and CEO of HighRadius, said in the news release. "I look forward to working with [our] high-quality, long-term investors, who share a common vision of transforming the office of the CFO using a combination of artificial intelligence built on top of connected-finance workspaces and embedded analytics."

HighRadius, a SaaS fintech company and Houston's first unicorn, has expanded in Europe. Getty Images

Houston fintech software startup expands with new German office

unicorn on the move

A growing Houston fintech software-as-a-service startup has announced that it's opening an additional European office following reaching unicorn status earlier this year.

HighRadius, which has a software that automates key treasury management processes, is opening an office in Frankfurt, Germany, the company announced today.The news comes after the company has posted triple-digit year-over-year growth, according to a press release. HighRadius boasts of 25 new customers and a 250 percent increase in bookings over the past year.

"Frankfurt's position in central Germany makes other parts of the country readily accessible, and its status as the financial center of the country opens up a gateway to a deep pool of talent and relevant partnerships," says Jon Keating, HighRadius' Vice President and General Manager, EMEA, in a news release.

The company, which achieved unicorn status with a $1 billion valuation following a $125 million raise in January, opened an office in Amsterdam last year and has had its London office since 2017. According to the release, Germany, Switzerland, and Austria are territories with major market opportunities. The Frankfurt office will house sales, pre-sales, marketing, and consulting employees.

HighRadius's technology is relevant amid the COVID-19 pandemic more than ever as its clients are in need of safe and easy remote technology and automation to prevent delays in accounts receivable. Last month, the SaaS company launched new technology to help with this need: the RadiusOne A/R Suite for mid-sized businesses.

"We launched the RadiusOne B2B Network to facilitate suppliers and A/R teams to digitally connect with their buyers and A/P teams for faster processing of receivables and payments. Currently, the network has millions of active businesses," says Sashi Narahari, founder and CEO of HighRadius, in a news release. "The RadiusOne A/R Suite will provide the essential apps for A/R teams at mid-sized businesses to instantly plug their ERPs and A/R processes into this network and digitally connect with their buyers across the globe."

Houston-based HighRadius has reported reaching unicorn status following a $125 million raise. Photo via highradius.com

Houston SaaS company achieves unicorn status following $125 million fundraising round

New unicorn

Following the closing of a $125 million series B investment round, a Houston software-as-a-service company is boosting a new title: Unicorn.

HighRadius, an artificial intelligence-powered fintech software company, has announced its unicorn status, which is defined as being valued at over $1 billion. The series B round, which achieved this status for HighRadius, was led by ICONIQ Capital, with participation from existing investors Susquehanna Growth Equity and Citi Ventures, according to a news release from the company.

"Today marks an important milestone for HighRadius and we're thrilled to have ICONIQ join us in our vision to modernize the Order to Cash space," says Sashi Narahari, founder and CEO of HighRadius, in a news release. "ICONIQ combines patient capital with a long-term vision of investing in category-defining businesses, and the firm has worked with some of the world's most successful tech entrepreneurs. We are building HighRadius into a self-sustaining, long-term category leader, and ICONIQ is a great partner for us in this journey."

The company, which offices in West Houston, was founded in 2006 founded in 2006 and employs more than 1,000 people in North America, Europe, and Asia. In November, HighRadius opened an office in Amsterdam. According to the news release, the company will use the funds to further expand its global footprint.

"We're thrilled to support HighRadius' efforts to bring innovative AI capabilities to the financial side of the enterprise," says Will Griffith, partner at ICONIQ Capital, in a news release. "As we have seen in many of our portfolio companies and past investments, including BlackLine and Coupa, digital transformation is increasingly a CFO priority."

HighRadius' AI-powered software is designed to streamline accounts-receivable and cash-management processes. For instance, HighRadius' Cash Application software relies on AI to comb through documents like emails and invoices to automatically match incoming payments with customers' accounts.

"The HighRadius platform is game-changing for CFOs and finance departments, and the company has earned tremendous customer loyalty by enabling receivables and treasury teams to perform more efficiently and effectively, and by delivering mission-critical ROI," Griffith continues in the release. "HighRadius fits squarely into our commitment to invest in best-in-class, long-term technology businesses driven by incredible teams, and we look forward to working alongside Sashi and the rest of the HighRadius team through their next phase of growth."

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Houston engineers develop breakthrough device to advance spinal cord treatment

future of health

A team of Rice University engineers has developed an implantable probe over a hundred times smaller than the width of a hair that aims to help develop better treatments for spinal cord disease and injury.

Detailed in a recent study published in Cell Reports, the probe or sensor, known as spinalNET, is used to explore how neurons in the spinal cord process sensation and control movement, according to a statement from Rice. The research was supported by the National Institutes of Health, Rice, the California-based Salk Institute for Biological Studies, and the philanthropic Mary K. Chapman Foundation based in Oklahoma.

The soft and flexible sensor was used to record neuronal activity in freely moving mice with high resolution for multiple days. Historically, tracking this level of activity has been difficult for researchers because the spinal cord and its neurons move so much during normal activity, according to the team.

“We developed a tiny sensor, spinalNET, that records the electrical activity of spinal neurons as the subject performs normal activity without any restraint,” Yu Wu, a research scientist at Rice and lead author of the study said in a statement. “Being able to extract such knowledge is a first but important step to develop cures for millions of people suffering from spinal cord diseases.”

The team says that before now the spinal cord has been considered a "black box." But the device has already helped the team uncover new findings about the body's rhythmic motor patterns, which drive walking, breathing and chewing.

Lan Luan (from left), Yu Wu, and Chong Xie are working on the breakthrough device. Photo by Jeff Fitlow/Rice University

"Some (spinal neurons) are strongly correlated with leg movement, but surprisingly, a lot of neurons have no obvious correlation with movement,” Wu said in the statement. “This indicates that the spinal circuit controlling rhythmic movement is more complicated than we thought.”

The team said they hope to explore these findings further and aim to use the technology for additional medical purposes.

“In addition to scientific insight, we believe that as the technology evolves, it has great potential as a medical device for people with spinal cord neurological disorders and injury,” Lan Luan, an associate professor of electrical and computer engineering at Rice and a corresponding author on the study, added in the statement.

Rice researchers have developed several implantable, minimally invasive devices to address health and mental health issues.

In the spring, the university announced that the United States Department of Defense had awarded a four-year, $7.8 million grant to the Texas Heart Institute and a Rice team led by co-investigator Yaxin Wang 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.

That same month, the university shared news that Professor Jacob Robinson had published findings on minimally invasive bioelectronics for treating psychiatric conditions. The 9-millimeter device can deliver precise and programmable stimulation to the brain to help treat depression, obsessive-compulsive disorder and post-traumatic stress disorder.

Houston clean hydrogen startup to pilot tech with O&G co.

stay gold

Gold H2, a Houston-based producer of clean hydrogen, is teaming up with a major U.S.-based oil and gas company as the first step in launching a 12-month series of pilot projects.

The tentative agreement with the unnamed oil and gas company kicks off the availability of the startup’s Black 2 Gold microbial technology. The technology underpins the startup’s biotech process for converting crude oil into proprietary Gold Hydrogen.

The cleantech startup plans to sign up several oil and gas companies for the pilot program. Gold H2 says it’s been in discussions with companies in North America, Latin America, India, Eastern Europe and the Middle East.

The pilot program is aimed at demonstrating how Gold H2’s technology can transform old oil wells into hydrogen-generating assets. Gold H2, a spinout of Houston-based biotech company Cemvita, says the technology is capable of producing hydrogen that’s cheaper and cleaner than ever before.

“This business model will reshape the traditional oil and gas industry landscape by further accelerating the clean energy transition and creating new economic opportunities in areas that were previously dismissed as unviable,” Gold H2 says in a news release.

The start of the Black 2 Gold demonstrations follows the recent hiring of oil and gas industry veteran Prabhdeep Singh Sekhon as CEO.

“With the proliferation of AI, growth of data centers, and a national boom in industrial manufacturing underway, affordable … carbon-free energy is more paramount than ever,” says Rayyan Islam, co-founder and general partner at venture capital firm 8090 Industries, an investor in Gold H2. “We’re investing in Gold H2, as we know they’ll play a pivotal role in unleashing a new dawn for energy abundance in partnership with the oil industry.”

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This article originally ran on EnergyCapital.

3 Houston innovators to know this week

who's who

Editor's note: Every week, I introduce you to a handful of Houston innovators to know recently making headlines with news of innovative technology, investment activity, and more. This week's batch includes an e-commerce startup founder, an industrial biologist, and a cellular scientist.

Omair Tariq, co-founder and CEO of Cart.com

Omair Tariq of Cart.com joins the Houston Innovators Podcast to share his confidence in Houston as the right place to scale his unicorn. Photo via Cart.com

Houston-based Cart.com, which operates a multichannel commerce platform, has secured $105 million in debt refinancing from investment manager BlackRock.

The debt refinancing follows a recent $25 million series C extension round, bringing Cart.com’s series C total to $85 million. The scaleup’s valuation now stands at $1.2 billion, making it one of the few $1 billion-plus “unicorns” in the Houston area.

Cart.com was co-founded by CEO Omair Tariq in October 2020. Read more.

Nádia Skorupa Parachin, vice president of industrial biotechnology at Cemvita

Nádia Skorupa Parachin joined Cemvita as vice president of industrial biotechnology. Photo courtesy of Cemvita

Houston-based biotech company Cemvita recently tapped two executives to help commercialize its sustainable fuel made from carbon waste.

Nádia Skorupa Parachin came aboard as vice president of industrial biotechnology, and Phil Garcia was promoted to vice president of commercialization.

Parachin most recently oversaw several projects at Boston-based biotech company Ginkjo Bioworks. She previously co-founded Brazilian biotech startup Integra Bioprocessos. Read more.

Han Xiao, associate professor of chemistry at Rice University

The funds were awarded to Han Xiao, a chemist at Rice University.

A Rice University chemist has landed a $2 million grant from the National Institute of Health for his work that aims to reprogram the genetic code and explore the role certain cells play in causing diseases like cancer and neurological disorders.

The funds were awarded to Han Xiao, the Norman Hackerman-Welch Young Investigator, associate professor of chemistry, from the NIH's Maximizing Investigators’ Research Award (MIRA) program, which supports medically focused laboratories. Xiao will use the five-year grant to advance his work on noncanonical amino acids.

“This innovative approach could revolutionize how we understand and control cellular functions,” Xiao said in the statement. Read more.