Olea Edge Analytics is an intelligent edge computing platform for the water utility industry that combines AI, machine learning and IoT sensors. Its suite of sensors and advanced analytics monitors and manages network components to pinpoint trouble spots and recommend actions to restore optimal performance. The product helps utilities optimize water delivery, billing and conservation and has uncovered millions of dollars in recoverable revenue, including from large commercial and industrial meters. Olea's patented solution runs analytics at the edge to bring transparency, accuracy and reliability to the management of critical water assets. The company plans to use new funding to accelerate hiring across departments and further develop its AI and edge computing solutions to help utilities manage water. Olea is based in Austin, Texas and has raised $50.6 million to date. Olea Edge Analytics is an Austin, TX-based provider of an AI-enabled IoT and edge computing platform that optimizes water delivery, billing and conservation. Led by CEO Dave Mackie, the company's platform uses AI and machine learning for water management and revenue recovery for large U.S. utilities. Olea completed a $9M Series B to support product expansion. The company intends to use the funds to expand its AI-enabled IoT water distribution management solution into municipal water utilities across the U.S. It is currently implementing phased rollouts of its solution in several other major cities. Mike Cormack of Renewal Funds and Jaideep Khanna of Ananta Family Office will join Olea's board of directors as part of the financing.

Total raised

$44M

Funding rounds

2

Latest round

Series C

Latest activity

Oct 2021