AUSTIN, Texas, May 25, 2017 /PRNewswire/ -- AIQUEOUS LLC, an Austin-based software company pioneering enterprise-class software-as-a-service (SaaS) applications for both water and electric utilities and for municipalities, announced today that it has raised seed round funding totaling $250,000 from private investors. The funds are being invested to further grow sales efforts, marketing infrastructure, and product development beyond the company's existing seven states they currently are working in. The company team of 10 recently announced it will also be doubling its office space in June.
"The modern utility wants to keep up with technology, and AIQUEOUS is here to help them do that," said Jonathan Kleinman, co-founder and president of AIQUEOUS. "With this new funding, we'll be able to expand our product suite and sales efforts to better serve our growing number of utility and municipality clients."
Leading the funding round is Agora Ventures of Portland, which aims to accelerate the growth of small businesses across several areas, including those with a focus on the environment.
"We're excited to fund such an innovative and passionate company so dedicated to preserving water and energy resources," said Brian Simmons, managing partner at Agora Ventures and lead investor. "We can't wait to see this team and its unique solutions expand further nationally and internationally over the coming years."
Founded in 2015 by Kleinman and Dan Merchant to provide the benefit of enterprise SaaS solutions to the more than 50,000 utilities across the United States, AIQUEOUS offers the industry's first integrated cloud solution that includes: a mobile-friendly web portal, customer relationship management (CRM), project management, budget tracking, natural resource impact, and employee collaboration tools.
This unified suite of applications gives smaller utilities a simple way to gain the technological advantages previously unaffordable and only available to larger, investor-owned utilities.
"One of the key challenges in the utility market is that it is highly fragmented," said Merchant, co-founder and vice president of operations at AIQUEOUS. "We are taking a unique approach that combines modern SaaS functionality with a highly focused product strategy, which has mass-appeal to an incredibly underserved market."
To date, AIQUEOUS has secured notable clients including Kansas City Power & Light, Scottsdale Water, and San Antonio Water System (SAWS).
To learn more about AIQUEOUS and its single platform solution, visit www.AIQUEOUS.com.
About AIQUEOUS LLC Headquartered in Austin, Texas, AIQUEOUS provides a simple and unified set of software applications delivered as a hosted service for small businesses in the utilities space. The company is privately funded. More information about their products and services can be found at their website http://www.AIQUEOUS.com.