Cost Optics Seeks $3M Funding for Product Expansion, International Growth

Funding will allow cost management IT vendor to expand to new business areas and geographies.

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Cost Optics has operated without needing any external investment since it was set up in 2011, but is now actively looking for $3 million, most likely from Japanese and Middle Eastern investors, to help support product and geographic expansion, says Kevin Whitmore, director of global operations at the vendor.

Currently, Cost Optics provides cost management services across a number of major expense categories, including brokerage and market data, where banks typically spend more than $100 million