Georgian Customer-Engagement Platform Optio Raises $1M to Launch SaaS and Expand Abroad

Optio, a Georgian platform that helps companies deliver the right offers to their customers, has announced the closing of a $1 million investment round. The funding is meant to accelerate development of the product's SaaS model and support the company's expansion into new markets.

The round and the company's plans

According to co-founder and CEO Shota Giorgobiani, the new capital will let the team continue working on a product that has already been successfully deployed in Georgia and take it beyond the country's borders.

"Years ago we started delivering the product as an on-premise solution, and today it is trusted by the country's largest financial institutions. Now our goal is to make the product much more accessible to other sectors as well and to expand our international presence so that we can serve a much larger market," he said.

SaaS opens the door to new sectors

The SaaS model creates a new delivery channel for companies outside the financial sector — businesses that need faster deployment and operate in less regulated fields such as e-commerce, retail, pharmaceuticals and healthcare. According to the company, the new round opens the way to rapid product development, a stronger competitive position and more innovation and automation for marketers, not only in Georgia but across the wider region.

Investors, awards and customers

Optio was created in Georgia, and its investors include international accelerators: Techstars, the well-known American startup accelerator whose network includes companies such as Uber, Digital Ocean and SendGrid, and StartupYard, Europe's oldest accelerator, based in Prague.

The platform has received many awards, including a "Most Promising Startup" award and a special award from Fincluders, and was named by AWS as one of the industry's key innovators (Gamechangers). Optio also holds several recognitions from Georgia's Innovation and Technology Agency (GITA). Its customers include leading banks and insurance companies in the country, among them Liberty Bank, Kristal, Silk Bank, Terabank and GPI Holding.