Nick Vandivere, CEO of Houston-based software company ThoughtTrace Inc., is today’s featured Forty Under 40 honoree.
Vandivere’s company, ThoughtTrace, has designed and implemented a software application that combines artificial intelligence (AI) and machine learning to read “words, sentences and paragraphs down to the thought or intent level.”
When ThoughtTrace launched, the application recognized 100 facts. Today, it has read almost 9 billion words and has helped the collective customer-base identify 155 million facts. This number grows every day.
When Vandivere became CEO in 2014, there were fewer than 20 employees. Now, as the team works to adapt the application “to many, many more data types,” he oversees almost 70 employees, ranging from oil and gas attorneys to software developers, all valued for their “grit … [which he considers] the biggest predictor of success.”
Vandivere grew as a leader during his military service, which he says “completely reshaped [his] perspective on life.” As a Platoon Leader in the U.S. Army, he said he learned “through some rather difficult circumstances … the importance of elevating the success of the team above everything else.”
Rice Acquisition, led by former EQT Corp. director Daniel Rice, raised about $215 million in its IPO in October last year.
The SPAC deal by Heliogen, a solar power firm backed by Bill Gates, comes at a time when U.S. solar installations are on track for record-breaking growth over the next three years, according to an industry report.
Many of the renewable SPACs that are currently publicly filed with the SEC have raised about $250 million or more with plans for some to buy privately-held companies drilling for natural gas.