An Overland Park-based software firm has gained access to $4.5 million from investors to boost its sales efforts.
Optimatics LLC, which originated in Australia, developed software that allows water and waste water utilities to plan system improvements that cut costs while improving operations.
The funding will help expand the company’s existing sales and marketing effort, which president and chief executive Corey Williams said can’t keep up with potential business opportunities.
“You just can’t get to enough people,” Williams said.
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Williams, hired two years ago, said the company operated for many years as a consulting business. It used its software to analyze municipal water systems and propose improvements.
The company now sells the software to utilities and engineering firms. It lists Johnson County Wastewater among its clients.
Revenues currently run at about $2 million a year. Williams said the 2015 goal is $5 million and the funding will help.
The money is coming mostly from Emerald Technology Ventures, a venture capital fund manager that focuses on clean technology investments. Its North American offices are in Toronto and its investors include financial institutions and multinational corporations.
Already, $3 million of the investment is “in the door,” he said, with an additional $1.5 million available as the company reaches performance objectives.
Until this investment, the company has gotten backing from “friends and family,” Williams said. Existing Optimatics owners also participated in the new funding.
The company has only a few area employees. Williams came aboard to develop the company’s U.S. business. Its development team is in Adelaide, Australia.