August 15 , 2019
- ConsumerOptix $750K Capital Raise featured in the Dayton Business Journal -
"A Dayton startup company has generated thousands of dollars in funding to grow its business. Now, its CEO is aiming his sights toward the company's next set of campaigns, with the goal of raising millions of dollars by 2021.
Insurance technology company ConsumerOptix led a $750,000 capital campaign to grow its business and add more employees to its roster. The funding came from a single Dayton investment group, Accelerate Capital Partners LLC.
The new employees will both develop and market its two products, Accelerate and eBenefitsIQ. Accelerate is a platform used to create tailored customer media and materials. eBenefitsIQ is a self-service voluntary benefits enrollment platform which utilizes employee psychographics.
So far, the company has hired a full-time lead software engineer. It's in the process of recruiting a manager of product and business development, in addition to a director of business development. This will bring the company's employee count to five.
"That's the focus, raising money to create jobs and add value in our target market," CEO and Co-Founder James O'Hara said.
O'Hara leads the company with President and Co-Founder, Brian Kipp.
With its first campaign wrapped up, talks have already begun about future fundraising initiatives. The company is aiming to raise an additional $1.5 million by quarter one of 2020, then raising $2.5 million to $3.5 million by either quarter four of 2020 or quarter one of 2021. Similar to its first campaign, the money will continue to be invested in job growth.
Not only has the company been active with fundraising, it has been expanding its network outside of Dayton. O’Hara travels extensively to meet with clients, due to the fact that employee benefits brokers and agents are scattered across all 50 states. The business also is international, as the same models work around the world in places like Europe and Asia.
Most recently, ConsumerOptix was just one of 10 companies selected by Hartford InsurTech Hub to participate in its exclusive fast-track programming. During the recent fast-track session in Chicago, O'Hara revealed the company connected with Allstate and Western & Southern Financial Group. A new connection to these powerhouse companies could lead to even more growth in the future.
Amongst the management of growth, the company has established an active presence in downtown Dayton. The company moved into the Kuhn's building in July, with plans to become a tenant in the Arcade's Innovation Center.
Following the recent tragedies in Dayton, O'Hara said it's a tough time for the city. But, his Dayton pride has remained true while leading his business toward success.
"I go into my office everyday and feel proud of our city," he said. "The things happening in Dayton are going to propel us into the future."
Source: Dayton Business Journal