Combining business intelligence with compliance, HData is empowering regulated energy companies to be more informed and efficient. CEO Hudson Hollister, who previously worked as a regulatory lawyer, has been working for 13 years to bring searchable data to the industry. HData’s platform automates regulatory reporting in the energy industry and extracts insights out of those reports, upgrading PDF documents to usable data.
Today, Alabama NewsCenter talks with Hudson Hollister, CEO of HData.
Hudson Hollister, CEO; Yuval Lubowich, CTO
Alabama NewsCenter: What is your company’s overall focus and mission?
Hollister: HData delivers FERC Pro, the first regulatory data platform for the energy sector. FERC Pro automates regulated energy companies’ reports to the Federal Energy Regulatory Commission (FERC) and extracts valuable business intelligence from FERC reports, so that comparisons that used to take months now take moments. FERC Pro is now in use by 25 electric, oil and gas companies.
ANC: What inspired you to start this company? How do you want to contribute to the future of energy and tech?
Hollister: I first began working toward data platforms for regulatory filings and forms when I was a lawyer at the U.S. Securities and Exchange Commission and realized that corporate financial reporting could be made much more efficient for both the agency and the regulated companies through technology. I started HData to deliver data-centric automation to both regulatory agencies and regulated companies. We built FERC Pro because the transformation of electric utility, oil pipeline and gas pipeline reports from unstructured documents into standardized data can reduce compliance costs, eliminate errors and provide revolutionary transparency to help the energy industry tackle enormous challenges in revenue, efficiency and the environment.
ANC: What attracted you to the Techstars Alabama EnergyTech Accelerator?
Hollister: The Techstars Alabama EnergyTech Accelerator makes Birmingham the best place in the world for new startups seeking to bring innovative approaches to the energy sector. No other program or stakeholder could have provided the connections, expertise and access that HData has already taken full advantage of since starting at the accelerator.
ANC: What is the No. 1 thing you’d like potential investors to understand about your company?
Hollister: Our regulatory data platform, FERC Pro, is the only one that combines compliance automation (think TurboTax) and business intelligence (think Bloomberg) for the energy industry. FERC Pro is already in use by 25 electric, oil and gas companies, including the largest electric utility in the world and the largest midstream pipeline company in the world.
ANC: What takeaways do you hope to gain for your company by participating in the Techstars Alabama EnergyTech Accelerator?
Hollister: HData needs to plan our platform roadmap based on our customers’ needs, expand our customer base rapidly and raise seed capital. The Techstars Alabama EnergyTech Accelerator is helping us do all three.
ANC: What is your opinion of Birmingham so far?
Hollister: Birmingham is an energetic place. I’m especially excited to see so much energy around the adaptive reuse of the city’s built environment for new industries, like the tech industry, and so much openness to new ideas and new growth. In just a few weeks, I’ve gotten connected to enthusiastic colleagues throughout the Birmingham tech industry, found a friendly CrossFit gym and started attending a church that I love.
Alabama NewsCenter is highlighting the 2021 class of startups participating in the Techstars Alabama EnergyTech Accelerator. Learn more about Techstars here.