WaterSmart Closes Second Round of Funding
SAN FRANCISCO, CA — WaterSmart Software, a water efficiency solutions company, today announced the closing of a second round of financing of $1 million led by Physic Ventures. Also participating in the round were Draper Fisher Jurvetson, Menlo Incubator, and Sand Hill Angels.
WaterSmart provides a turn-key, cloud-based platform for water utilities to educate residential customers about their water use and make personalized recommendations on how to conserve water. WaterSmart uses behavioral science techniques to increase customer engagement, elevate consumer interest in saving water and money, and increase participation in utility-sponsored efficiency programs. WaterSmart’s enterprise product includes an analytics platform, which allows utility managers to view how their customers use water and where efficiencies can be generated.
WaterSmart’s service has already been deployed by five California utilities and has demonstrated significant water savings. These savings provide utilities with a strong value proposition in avoided costs of purchased water and capital expenditures.
“This additional funding enables WaterSmart to accelerate the deployment of its water efficiency solution to additional utility customers,” said Peter Yolles, founder and CEO of WaterSmart. “With our solution, any utility can launch a fully customized water efficiency campaign and begin seeing results in a matter of weeks.”
“We view WaterSmart’s market traction and proven results as a validation of the Company’s innovative technology platform. The data they’ve collected in partnership with utilities demonstrates how to engage consumers and generate meaningful efficiencies,” says Andrew Williamson, a Partner at Physic Ventures and WaterSmart Board member.
“In an era of peak water, WaterSmart has created an easy way for utilities to help their customers and themselves. We are encouraged by the growth potential and value proposition that WaterSmart’s platform can deliver to water utilities,” says Don Wood, Managing Director at DFJ.
WaterSmart Software provides intelligence beyond the meter to make the lives of water utility managers easier. Water providers using WaterSmart’s cloud-based, customer self-service and engagement platform have been proven to reduce costs, improve operational efficiency, and increase customer satisfaction by more than 25%. WaterSmart is a winner of the globally coveted World Economic Forum Technology Pioneers Award for their potential to “significantly impact business and society through the design, development and implementation of new technologies and innovation.” Come help us change the way the world uses water.
Ali Barsamian, WaterSmart Software – (415-366-8622 x 819): abarsamian@watersmart.com