Optimum Energy, whose software is used to reduce energy consumption in buildings, has raised $5 million in new financing. Total funding in the Seattle company now stands at $19 million.
“We will use the additional funding to accelerate product development and expand our direct and indirect sales teams,” Optimum CEO Matthew Frey tells GeekWire.
The company, with about 40 employees, has been adding staffers and executives in recent months as it looks to ramp up sales and marketing efforts.
It recently named Mark Bretl as vice president of products and technology; Marty Hess as vice president of marketing and business development; and promoted Ben Erpelding to the position of vice president of engineering and solutions architecture.
Just today, the company announced that the Rockefeller Group Development Corporation used Optimum Energy’s technology to reduce energy costs at Rockefeller Center in New York. As part of the costs savings, Rockefeller Group received a rebate of $557,370 through Con Edison’s Commercial and Industrial Energy Efficiency Program.
The companies said that the energy efficiency improvements will result in over 3,000 tons of CO2 avoided annually, the equivalent of taking over 550 cars off the road. Optimum Energy’s OptimumHVAC software was used to boost the energy efficiency at the building’s central chiller plant.
“The Rockefeller Group has taken a leadership role in energy conservation in the New York metropolitan area with its implementation of cutting-edge energy optimization technologies like OptimumHVAC,” said Frey in a release.