Seattle climate tech startup Omnidian targets international expansion after raising $33M

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By Rick Morgan September 26, 2021

Seattle-based climate tech company Omnidian last week announced a $33 million Series B round.

Omnidian founder and CEO Mark Liffmann said the funding will help the company grow beyond the U.S., and he added that Omnidian is looking into Australia, Latin America and Europe. The company is still deciding which market to target first.

“We’re looking to roughly double revenue over the next several years each year,” Liffmann said. “We’ll grow the headcount a little slower than that, but the headcount will be growing very quickly.”

Liffmann said Omnidian currently has about 100 employees, with more than 50 based in the Seattle area.

According to its website, Omnidian has open roles in engineering, operations and product management. The company currently uses a WeWork downtown near First Avenue and Spring Street. Liffmann said Omnidian is staying flexible with its work policy as the Covid-19 situation evolves, but the company would eventually like to have its own office.

Omnidian, which launched in 2016, uses technology to remotely monitor solar assets for performance and maintenance. Liffmann said Omnidian’s revenue is split about evenly between commercial and residential clients, but the company has more total residential clients. He added that solar dealers and installers will often bundle Omnidian’s services at the point of sale.

Activate Capital led the round. Liberty Mutual Insurance, WIND Ventures, City Light Capital, IA Capital, Evergy Ventures, Avista Development Inc., Congruent Ventures, Centrica, National Grid Partners, Energy Foundry and Blue Bear Capital all participated in the round.

Omnidian also offers services for energy storage. Liffmann said the company is looking into electric vehicle charging as well as heating and cooling assets.

“Our vision is to protect clean energy assets,” Liffmann said. “We think of ourselves as kind of a category creator in this space. The (Internet of Things) has enabled a whole different way to maintain these assets.”

SOURCE: THE BUSINESS JOURNALS