Optimum Energy, a Seattle, Washington-based provider of energy optimization solutions, completed a $12.2m financing round.
The investment was led by new investor Navitas Capital (backed by a venture capital advisory relationship with Johnson Controls, Inc.), with participation from existing investor Columbia Pacific Capital Management.
The company intends to use the capital to continue research and development on its machine learning technology.
Led by Matthew Frey, president and CEO, Optimum Energy provides enterprise optimization solutions:
– OptimumMVM, a web-based measurement, verification and management software as a service (SaaS) platform that provides detailed, real-time and historical performance information enabling operators to detect, diagnose and resolve system faults as they occur;
– OptimumLOOP, a patented, configurable control software that provides continuous, system-level optimization of centrifugal chilled water plants.
– OptimumVAV, a patented, configurable control software that provides continuous, system level optimization of direct digital controlled (DDC) variable air volume for greater efficiency and higher performance.