Emerald Invests in Optimatics
Published on by Water Network Research, Official research team of The Water Network in Business
Emerald Technology Ventures Announces an Investment in Optimatics from its Third Fund
The company provides software platforms and adjacent services that enable water industry decision makers to save millions of dollars by optimizing the planning and operation of their water and wastewater systems. The approach is based on a proprietary library of evolutionary algorithms for pipe infrastructure optimization. Optimatics was founded based on research activities at MIT, the University of Michigan and the University of Adelaide and has served over 200 utility customers to date. Emerald led the financing round and was joined by existing shareholders.
Corey Williams, CEO of the company stated: "We are very proud to welcome such a high caliber investor to our company. Emerald's deep domain expertise and global network will be an important pillar in supporting our growth."
"Intelligent infrastructure is a focus area for us and we have done a number of investments in this space to date," commented Gina Domanig, Managing Partner at Emerald. "Optimatics offers a tremendous value proposition to asset heavy but capital constrained water and wastewater utilities. At the same time, its software fits very well to existing planning & design, asset management and purchasing software tools. A perfect match!"
Dr. Helge Daebel, Investment Director at Emerald, and following the transaction, a new member of the Optimatics board of directors added: "I look forward to working with the board and management team to contribute to the growth of the company. It is great to join such a knowledgeable and passionate team."
About Optimatics
Optimatics is the leading provider of infrastructure planning software that enables water and wastewater utilitiesaround the globe to avoid billions of dollars in costs while ensuring optimal performance. Its OptimizerTMsoftware isthe industry's most powerful tool for analyzing hundreds of planning options across multiple asset types, determiningthe best plan to reduce capital, operating and energy costs, while meeting all of the organization's planningobjectives. The unbiased and defensible outcomes promote financial stewardship and ensure sustainability for anorganization and its stakeholders.
Source: Emerald
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