DIGITAL DOMINANCE

Houston named national hot spot for this tech career, says report

Houston is a good place for creators of digital content, such as podcasters, bloggers, writers, and strategists. Photo by Laurence Dutton/Getty Images

The Greater Houston area ranks as one of the hot spots in the country for an in-demand area of tech expertise.

A new report from career website LinkedIn looks at an array of career categories exhibiting the highest year-over-year growth rates in hiring (based on the period from last April to October).

The report pinpoints Houston as one of the hottest U.S. markets for creators of digital content, such as podcasters, bloggers, writers, and strategists. For those looking to transition, the majority of these digital content creators have a bachelor of arts degree, while some 25 percent have a masters, the report notes. Top skills for these positions include editing, writing, public speaking.

Meanwhile, DFW is listed as a "top region" for UX specialists, including UX consultants, designers, and researchers along with the San Francisco Bay area and Greater Chicago area. (What, exactly, is UX? While the field and job can have many facets, one industry site puts it this succinctly: "UX design is the process of designing (digital or physical) products that are useful, easy to use, and delightful to interact with.")

The Austin area ranks as one of the hottest spots in the U.S. for artificial intelligence (AI). The report says jobs like artificial intelligence specialist, machine learning researcher, and machine learning engineer are in particularly high demand in the Austin area, as well as Denver and San Francisco Bay.

In 2019, the tech sector in Texas wielded an economic impact of $141.7 billion and employed more than 1 million people (including AI engineers, UX designers, and digital content creators), according to CompTIA, a trade association for the IT industry.

"Technology powered job growth and economic gains in the past decade in Texas and across the country while delivering countless benefits in how we work, communicate, create, and share," Todd Thibodeaux, president and CEO of CompTIA, said in a 2020 release.

U.S. News & World Reportranks the University of Texas at Austin among the country's top five schools for undergraduate students studying AI, an arm of computer science that simulates human intelligence.

Globally, AI is a fast-growing specialty among employers. A 2020 report from the World Economic Forum identified AI and machine learning positions as the No. 1 emerging category of jobs. Ninety-three percent of U.S. companies surveyed by the organization indicated they had adopted AI technology.

In 2019, job website Indeed reported that average salaries for the highest-paid AI jobs in the U.S. ranged from $109,314 to $142,859.

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This article originally ran on CultureMap.

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Originally expected to raise $150 million, Mercury's latest fund is the largest raised to date. Photo via mercuryfund.com

A Houston venture capital firm has announce big news of its latest fund.

Mercury, founded in 2005 to invest in startups not based in major tech hubs on either coast, closed its latest fund, Mercury Fund V, at an oversubscribed amount of $160 million. Originally expected to raise $150 million, Fund V is the largest fund Mercury has raised to date.

“We are pleased by the substantial support we received for Fund V from both new and existing investors and thank them for placing their confidence in Mercury,” Blair Garrou, co-founder and managing director of Mercury Fund, says in a news release. “Their support is testament to the strength of our team, proven investment strategy, and the compelling opportunities for innovation that exist in cities across America.”

The fund's limited partners include new and existing investors, including endowments at universities, foundations, and family offices. Mercury reports that several of these LPs are based in the central region of the United States where Mercury invests. California law firm Gunderson Dettmer was the fund formation counsel for Mercury.

Fresh closed, Fund V has already made investments in several companies, including:

  • Houston-based RepeatMD, a patient engagement and fintech platform for medical professionals with non-insurance reimbursed services and products
  • Houston and Cheyenne Wyoming-based financial infrastructure tech platform Brassica, which raised its $8 million seed round in April
  • Polco, a Madison, Wisconsin-based polling platform for local governments, school districts, law enforcement, and state agencies
  • Chicago-based MSPbots, a AI-powered process automation platform for small and mid-sized managed service providers

Mercury's investment model is described as "operationally-focused," and the firm works to provide its portfolio companies with the resources needed to grow rapidly and sustainably. Since 2013, the fund has contributed to creating more than $9 billion of enterprise value across its portfolio of over 50 companies.

“Over the past few years there has been a tremendous migration of talent, wealth and know-how to non-coastal venture markets and this surge of economic activity has further accelerated the creation of extraordinary new companies and technology," says Garrou. "As the first venture capital firm to have recognized the attractiveness of these incredible regions a dozen years ago, we are excited to continue sourcing new opportunities to back founders and help these cities continue to grow and thrive.”

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