Optio3 builds a web-based service to help maintenance technicians, facilities managers and operations and finance teams control and manage IoT assets across hotels, offices, universities and malls. The product focuses on maintenance management, asset lifecycle management and operational management across devices from multiple manufacturers, accessible from PC, tablet or mobile. Optio3 cites industry data that commercial buildings will contain billions of internet-connected devices and that inefficiency in managing those devices accounts for more than 30% of operational costs. The company raised $2 million in angel funding from unnamed investors and plans to use the proceeds to expand a private beta program in Washington and California targeting hotel groups, universities and large office complexes. The founding team—Sridar Chandrashekar (CEO), Luis Salazar (co-founder), Mohan Thimmappa (head of product management) and Jake Varghese (business-development head)—are Microsoft veterans who helped launch Office Live/Office 365 and have prior ServiceNow and other enterprise experience. Optio3 currently has two staffers in Santa Clara and five in Seattle and says it complements Seattle-based Optimum Energy by focusing on maintenance and operations rather than pure energy savings.

Total raised

$2M

Funding rounds

1

Latest round

Equity

Latest activity

Oct 2016