2 Houston organizations team up to drive SaaS innovation within energy sector

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The two entities will combine resources and efforts to "drive innovation, accelerate growth and empower young companies." Photo via Getty Images

Two entities looking to support software-as-a-service innovation have teamed up on a new resource to meet the energy sector corporate clients' growing technology demands.

MOIC Partners, an energy enterprise software sales support solution provider founded earlier this year, and Venture Builder VC, a consulting firm, investor, and accelerator program operator led by a group of Houston innovators, have announced a new partnership. The two entities will combine resources and efforts to "drive innovation, accelerate growth and empower young companies," per a news release from the organizations.

“Throughout our careers, we’ve encountered various approaches to achieving the broader innovation objectives of Venture Builder VC and, in our judgment, this program truly stands out as a model that has the potential to introduce significant innovation to the energy sector in an abbreviated timeframe,” Dave Levitt of MOIC Partners says in the release.

MOIC Partners provides go-to-market products and services, including MOIC Sales Engine, MOIC Pipeline Grader, MOIC Pricing Engine, Virtual Dave, and MOIC Exit Engine.

Venture Builder VC recently partnered with NOV on a custom accelerator for the energy leader.

“We deliver disruptive solutions to enterprise R&D and innovation leaders by targeting growth-stage startups solving their specific problems," Billy Grandy, founder and general partner of Venture Builder VC, says in the release. "While founder-led models excel in driving change, they often struggle with scalability and change management with corporate customers. Our partnership with MOIC Partners provides essential tools to help small and mid-sized SaaS companies overcome these challenges and achieve sustainable growth.”

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Kahuna Workforce Solutions, which provides HR software solutions, announced it has closed a $21 million series B. Photo via Getty Images

Houston software company with HR solutions raises $21M series B

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A Houston company with a software platform to enhance skills management operations has raised its series B.

Kahuna Workforce Solutions announced it has closed a $21 million series B funding round led by Baltimore-based Resolve Growth Partners. Kahuna's platform provides its users — which come the from health care, energy, field service, and manufacturing industries — with effective assessment, training and development, and staffing and deployment initiatives.

“We are thrilled to work with Resolve as Kahuna begins the next growth phase. Their expertise in enterprise software, and commitment to innovation and continuous improvement fully aligns with our mission, vision, and goals for Kahuna,” Jai Shah, CEO of Kahuna Workforce Solutions, says in a news release. “This funding fuels our ability to provide mission-critical skills management solutions and support as we revolutionize how organizations manage and optimize workforce skills and capabilities.”

The software-as-a-service company will use the fresh funding to continue product development and hire across sales and marketing, product development, customer success, and engineering. The company also will grow to support global customers.

“Kahuna stands out as a category leader. They offer best-in-class skills management software and create true partnerships with customers to achieve transformative business value and operational outcomes,” Jit Sinha, co-founder and partner at Resolve Growth Partners, adds.

“Kahuna’s extensive understanding of market needs positions them uniquely in this space. Our investment is a testament to the confidence we have in Kahuna to continue leading and offering unparalleled solutions to meet the evolving needs of customers globally,” Sinha continues.

Shah, who's based in San Diego, founded the company in 2018. The company lists several of its customers on its website, including bp, GE Renewable Energy, Memorial Hermann, and more.

A Houston SaaS company has announced a fresh round of funding. Photo via Innovapptive.com

Houston-based workforce solutions platform closes series B round

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A Houston software-as-a-service company has closed an undisclosed amount of funding in a series B round.

Innovapptive Inc., which has its global headquarters in Greenway Plaza, has announced it's closed a series B investment round led by Austin-based Vista Equity Partners with support from existing investor Tiger Global Management. The fresh funding will be deployed to "accelerate product innovation and reach new regional markets," according to the company.

“We look forward to this next phase of growth as we continue to define the emerging connected worker software category,” says Sundeep Ravande, founder and CEO of Innovapptive, in the news release. “Vista has significant experience scaling enterprise software businesses and emerging technologies."

Innovapptive serves customers across industries, including energy, materials, utilities, chemicals, industrial manufacturing, and moree. The suite of software allows for users to improve productivity, training, safety, and compliance.

"We are thrilled to have them lead our Series B investment and work alongside our team to advance and scale our vision, product innovation and go-to-market efforts," Ravande continues. "This partnership will enhance our platform capabilities to integrate with enterprise systems, capture actionable insights, make recommendations for productivity and safety, and close the loop between assets and people.”

The investment was made from Vista’s Endeavor Fund, and along with the money, Vista's senior vice president, Ben Benson, will join the company's board of directors.

“Sundeep and his team possess the vision, talent and deep institutional knowledge to shape the future of connected worker solutions; we look forward to our partnership and helping them achieve their goals,” says Benson.

Houston-based GoCo.io has raised fresh funding and launched the latest version of its platform. Courtesy of GoCo

Houston SaaS company raises $15M series B, announces latest release

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A Houston startup that is optimizing human resource operations for small businesses has raised fresh funding from an Austin-based venture capital investor.

GoCo.io raised $15 million in September in a funding round led by ATX Venture Partners. Founded in 2015, the company has raised $27.5 million to date, including its $7 million series A in 2019.

The fresh funding will be used to continue expanding on the company's software services operations and upgrades to its product, which is is modernizing HR, benefits, and payroll.

“We believe that GoCo is the company best positioned to provide HR departments at SMBs with the most flexible employee management software,” says Chris Shonk, general partner at ATX Venture Partners, in a news release. “In a crowded marketplace, GoCo clearly rises to the top with its ease-of-use, flexibility and unparalleled customization.

"We’re excited to be a part of GoCo’s journey, and we look forward to supporting their continued innovation as they solve new and existing challenges HR departments face,” he continues.

Last month, the company launched its latest version of the platform, which included new features, enhanced user experience, and increased integrations. Over the past two years, the company has doubled its team to keep up with its customer growth and product development.

“GoCo is the trusted HR software SMBs rely on and we’re thrilled to reach an exciting funding milestone,” says Nir Leibovich, CEO of GoCo, in the release. “This new investment will enable us to provide additional leap-frog HR technology solutions that ensure every organization’s success by eliminating manual HR tasks. SMBs are facing significant challenges right now and GoCo has grown rapidly because we are able to not only meet but exceed HR departments’ needs and expectations.

"GoCo looks forward to expanding upon providing an outstanding customer experience through this new phase of growth as we launch our newest value-added product this fall,” he continues.

Umbrage, a Houston-based developer of enterprise software, has closed its seed funding. Photo via umbrage.com

Houston digital studio closes $2M seed round with local investment

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A software startup in Houston has leveled up thanks to new funding. Houston-based digital studio Umbrage has reportedly raised $2 million.

Founded in 2019 by Will Womble, Umbrage creates custom software solutions for companies within digitally transforming industries, such as oil and gas, healthcare, and supply chain.

"Umbrage is a new way that enterprises can overcome the inherent challenges of building and scaling digital solutions," Womble, who also serves as CEO, says in a news release. "Umbrage partners with internal technology teams to create scalable products that directly impact business' success. And by training our clients to effectively scale and improve these custom-built solutions, we're setting up our customers for long-term, sustainable success."

The round was led by Rice Investment Group — which, according to the release, has been a client of Umbrage as well as an investor.

"We've utilized Umbrage's custom solutions in our portfolio companies with great success and we can attest to the customer value proposition," says Danny Rice, a Partner of Rice Investment Group. "We're thrilled to support Umbrage's growth and enable forward-thinking businesses to unlock the business potential that digital solutions from Umbrage can deliver."

According to the release, Umbrage was able to be cash-flow-positive within weeks of starting and has already grown its team to nearly 40 employees. Clients include Cold Bore Technologies, Sumitomo Corp., and cpap.com.

"Umbrage brings a product-first mindset that continues to influence our organization far beyond what is expected from a software vendor," says Edwin Suarez, vice president and chief digital officer at SC Global Tubular Solutions. "Our team has been challenged with digital business models from ideation through product development and partnering with Umbrage helps us focus on long-term strategy while ensuring delivery on our immediate needs."

DocJuris has raised its first round of venture funding to grow its team to keep up with demand for its legal software platform. Image courtesy of DocJuris

Houston B2B software company raises $3.2M in seed funding to grow team and product

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A Houston-based software-as-a-service company that is revolutionizing the contract process has closed a round of funding this week.

DocJuris, founded in 2018, raised $3.2 million in seed funding led by New York-based RTP Seed with additional support from Houston-based Seed Round Capital, California-based Watertower Ventures, Maryland-based Crossbeam, and Remote First Capital.

It's the startup's first round of venture funding and Henal Patel, CEO of DocJuris, says he was looking for funds as well as support from investors who had experience with software and could open doors to new clients for the legal software.

"Our platform is designed to empower legal, sales, and procurement teams and corporations to negotiate and close contracts with greater speed and precision," Patel says. "The underlying mission is to solve the last-mile of contracting."

Henal Patel is CEO of DocJuris. Photo courtesy of DocJuris

The need for funding came at a time of growth, Patel says, as DocJuris was seeing more and more opportunities in light of the pandemic.

"As work has gone more remote, there's a greater need for teams to be able to collaborate on their contracts — instead of sending Word documents over email," he tells InnovationMap.

Within the contract optimization space, Patel says he sees a lot of opportunities for enhancing the experience for lawyers, business owners, contractors, and anyone who has to spend any amount of time on legal papers.

"One of our visions is to — in addition to providing the tactical tools we do to day — revisualize the way that people read contracts," Patel says. "Our platform enables the ability to improve the lives of the people who have to stare at contracts all day."

DocJuris is already hiring for a few positions across sales, customer service, and marketing, and Patel says he will continue to grow his remote team locally.

"We've been remote since before it was cool," Patel says, adding that all but one of his employees is based in Houston. "But we've been locally concentrated in Houston. We're planning on growing our team here in Houston, but keeping the team remote. We believe in Houston."

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Texas plugs in among states at highest risk for summer power outages in 2025

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Warning: Houston could be in for an especially uncomfortable summer.

A new study from solar energy company Wolf River Electric puts Texas at No. 2 among the states most at risk for power outages this summer. Michigan tops the list.

Wolf River Electric analyzed the number of large-scale outages that left more than 5,000 utility customers, including homes, stores and schools, without summertime electricity from 2019 to 2023. During that period, Texas experienced 7,164 summertime power outages.

Despite Michigan being hit with more summertime outages, Texas led the list of states with the most hours of summertime power outages — an annual average of 35,440. That works out to 1,477 days. “This means power cuts in Texas tend to last longer, making summer especially tough for residents and businesses,” the study says.

The Electric Reliability Council of Texas (ERCOT), which operates the electric grid serving 90 percent of the state, predicts its system will set a monthly record for peak demand this August — 85,759 megawatts. That would exceed the current record of 85,508 megawatts, dating back to August 2023.

In 2025, natural gas will account for 37.7 percent of ERCOT’s summertime power-generating capacity, followed by wind (22.9 percent) and solar (19 percent), according to an ERCOT fact sheet.

This year, ERCOT expects four months to surpass peak demand of 80,000 megawatts:

  • June 2025 — 82,243 megawatts
  • July 2025 — 84,103 megawatts
  • August 2025 — 85,759 megawatts
  • September 2025 — 80,773 megawatts

One megawatt is enough power to serve about 250 residential customers amid peak demand, according to ERCOT. Using that figure, the projected peak of 85,759 megawatts in August would supply enough power to serve more than 21.4 million residential customers in Texas.

Data centers, artificial intelligence and population growth are driving up power demand in Texas, straining the ERCOT grid. In January, ERCOT laid out a nearly $33 billion plan to boost power transmission capabilities in its service area.

Houston ranks among top 5 cities for corporate HQ relocations in new report

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The Houston area already holds the title as the country’s third biggest metro hub for Fortune 500 headquarters, behind the New York City and Chicago areas. Now, Houston can tout another HQ accolade: It’s in a fourth-place tie with the Phoenix area for the most corporate headquarters relocations from 2018 to 2024.

During that period, the Houston and Phoenix areas each attracted 31 corporate headquarters, according to new research from commercial real estate services company CBRE. CBRE’s list encompasses public announcements from companies across various sizes and industries about relocating their corporate headquarters within the U.S.

Of the markets included in CBRE’s study, Dallas ranked first for corporate relocations (100) from 2018 to 2024. It’s followed by Austin (81), Nashville (35), Houston and Phoenix (31 each), and Denver (23).

According to CBRE, reasons cited by companies for moving their headquarters include:

  • Access to lower taxes
  • Availability of tax incentives
  • Proximity to key markets
  • Ability to support hybrid work

“Corporations now view headquarters locations as strategic assets, allowing for adaptability and faster reaction to market changes,” said CBRE.

Among the high-profile companies that moved their headquarters to the Houston area from 2018 to 2024 are:

  • Chevron
  • ExxonMobil
  • Hewlett-Packard Enterprise
  • Murphy Oil

Many companies that have shifted their headquarters to the Houston area, such as Chevron, are in the energy sector.

“Chevron’s decision to relocate its headquarters underscores the compelling advantages that position Houston as the prime destination for leading energy companies today and for the future,” Steve Kean, president and CEO of the Greater Houston Partnership, said in 2024. “With deep roots in our region, Chevron is a key player in establishing Houston as a global energy leader. This move will further enhance those efforts.”

According to CBRE, California (particularly the San Francisco Bay and Los Angeles areas) lost the most corporate HQs in 2024, with 17 companies announcing relocations—12 of them to Texas. Also last year, Texas gained nearly half of all state-to-state relocations.

In March, Site Selection magazine awarded Texas its 2024 Governor’s Cup, resulting in 13 consecutive wins for the state with the most corporate relocations and expansions.

In a news release promoting the latest Governor’s Cup victory, Gov. Greg Abbott hailed Texas as “the headquarters of headquarters.”

“Texas partners with the businesses that come to our great state to grow,” Abbott said. “When businesses succeed, Texas succeeds.”

CBRE explained that the trend of corporate HQ relocations reflects the desire of companies to seek new environments to support their goals and workforce needs.

“Ultimately, companies are seeking to establish themselves in locations with potential for long-term success and profitability,” CBRE said.

SpaceX test rocket explodes in Texas, but no injuries reported

SpaceX Update

A SpaceX rocket being tested in Texas exploded Wednesday night, sending a dramatic fireball high into the sky.

The company said the Starship “experienced a major anomaly” at about 11 pm while on the test stand preparing for the 10th flight test at Starbase, SpaceX’s launch site at the southern tip of Texas.

“A safety clear area around the site was maintained throughout the operation and all personnel are safe and accounted for,” SpaceX said in a statement on the social platform X.

CEO Elon Musk ’s SpaceX said there were no hazards to nearby communities. It asked people not to try to approach the site.

The company said it is working with local officials to respond to the explosion.

The explosion comes on the heels of an out-of-control Starship test flight in late May, which tumbled out of control. The FAA demanded an investigation into the accident.

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