P97 Networks's $5 million financing tops recent funding news in Houston

Houston-based fintech company P97 Networks has secured $5 million in Series B funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced Feb. 28 and financed by Accenture.

According to its Crunchbase profile, "P97 Networks provides cloud-based mobile commerce and digital marketing solutions for the convenience retail and fuels marketing industry under the brand name, PetroZone. Its solutions enhance the ability of convenience store operators, marketers, and oil companies to attract and retain customers by providing technology that securely connects millions of individual mobile phones and connected cars with identity- and geolocation-based software technologies. The company’s solutions also allow consumers to have better mobile shopping experiences, options for lower fuel prices, and personalized digital offers for in-store purchases."

The seven-year-old company has raised three previous funding rounds, including a $14 million Series B round in 2018.

The round brings total funding raised by Houston companies in software over the past 90 days to $213 million. The local software industry has produced 22 funding rounds over the past year, securing a total of $244 million in venture funding.

In other local funding news, information technology and digital marketing company Alice announced a funding round on March 8, financed by Bumble Fund. 

According to Crunchbase, "Alice is a free digital platform that makes smart, instant connections between business owners and the resources they need to accelerate sustainable growth and global impact. Alice is open to all founders and prioritizes access for women and other underrepresented business owners."

Founded in 2015, the company has raised two previous rounds, including a $200,000 grant in 2018.


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