# Olea Networks

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/olea-networks

- Industry: Software
- Headquarters: Austin, US
- Website: www.oleaedge.com
- Total disclosed funding: $44M
- Latest round: Series C (Sep 15, 2021)
- Investors on record: 4

## About

Olea Networks, Inc. provides innovative technology solutions aimed at increasing operational efficiency and revenue generation for water utilities through advanced IoT and edge computing technologies.Founded in 2014 and headquartered in Austin, US, Olea Networks specializes in real-time water loss control solutions for utilities. The company was invested in through a SERIES C funding round in September 2021, raising USD 34.89 mn led by Insight Partners, marking a significant milestone in its growth. The company has executed a total of 4 deals, focusing on advancing its technological offerings. CEO Dave Mackie leads the organization, leveraging his experience in the sector to drive innovative solutions for water management.Olea Edge Analytics specializes in providing advanced technology solutions designed to enhance water utilities' operational efficiency and revenue generation. Their core offerings include patented IoT and edge computing solutions that facilitate real-time water loss control, enabling utilities to monitor and manage water distribution effectively. These technologies address challenges faced by aging infrastructure and growing demand in urban environments, ensuring that every drop of water is accounted for and billed appropriately. The company serves a diverse client base, including municipalities and regional water utilities across North America, particularly in urban areas that experience high water loss rates. By leveraging analytics and connectivity, Olea's solutions improve accuracy, transparency, and reliability in water management, benefiting customers and their end users.Olea Edge Analytics generates revenue primarily through direct sales of its technology solutions to water utilities, structured around a B2B model. The company engages in long-term partnerships with municipalities, providing subscription-based services that include software updates and ongoing support for their IoT solutions. Transactions typically involve upfront fees for the installation of the technology, followed by recurring revenue from service agreements that ensure the continuous functionality of their systems. Olea's flagship products, which incorporate real-time analytics and monitoring capabilities, are positioned to optimize water delivery and billing processes, ultimately driving increased revenues for their clients. As a result, water utilities not only improve their operational efficiencies but also enhance their financial performance through effective resource management.In September 2021, Olea Networks, Inc. raised USD 34.89 mn in SERIES C funding, led by Insight Partners, to support the growth of its team and AI-based solution. The company is focused on developing new products that enhance its service offerings and expand its reach into additional geographic markets. Plans include targeting municipalities in previously unserved regions across North America, expected by the end of 2023. This strategic direction aims to capitalize on the increasing demand for smart water management solutions as urban infrastructure continues to evolve.

## Funding rounds

- Series C, Sep 15, 2021, $35M — Insight Partners
- Series B, Feb 25, 2020, $9M — Mercury, Renewal Funds, Ananta Family Office

## Investors

- Mercury (https://capitalatlas.ai/funds/mercury) — Series B
- Renewal Funds (https://capitalatlas.ai/funds/renewal-funds) — Series B
- Ananta Family Office — Series B
- Insight Partners (https://capitalatlas.ai/funds/insight-partners) — Series C