- Industry-leading cloud-based water software platform 120WaterAudit announced it raised $7 million in Series A funding
120WaterAudit — an industry-leading cloud-based water software platform — announced that it has raised $7 million in Series A funding. This round of funding was led by HG Ventures (the corporate venture arm of The Heritage Group). Allos Ventures and Greenhouse Capital also joined the round. This funding round will be used for enhancing 120WaterAudit’s Digital Water Cloud platform and rapidly expand sales and marketing.
In a study last year, it was discovered that nearly half of all U.S. students go to school in states that do not have specific programs for testing drinking water and more than 40% of schools turned up samples with higher than recommended levels of lead. 120WaterAudit’s software and kits are used by government agencies, public water systems, and facilities tasked with executing these types of regulated and voluntary water programs. Now, 120WaterAudit manages over 150,000 locations in 12 states and impacts more than 4.5 million lives.
“At 120WaterAudit, our mission is to help protect public health by providing the enterprise software and kits that transform the way our customers manage their water programs,” said Megan Casey Glover, the CEO of 120WaterAudit. “This funding provides us the opportunity to continue optimizing our current capabilities and expand into other related industry and water management programs on a national scale.”
Over the past 2 years, 120WaterAudit won the Rise of the Rest pitch competition. And the company was also accepted into the Imagine H20’s 2019 accelerator. The notable customers include the Indiana Finance Authority, Maryland Department of Environment, Chicago Public Schools, and Pittsburgh Water & Sewer Authority.
“We have followed the 120WaterAudit story closely over the past few years and have been consistently impressed with their environmental vision and dedication to making communities safer and more aware of the quality of water they’re delivering to residents,” added Kip Frey, a Managing Partner of HG Ventures and EVP of The Heritage Group. “This partnership comes at a time where advanced digital technology is critical to ensuring the wellbeing of our current communities and future generations. We look forward to working hand-in-hand with 120WaterAudit to continue driving the company vision forward and improving the quality of today’s water supply.”
Going forward, Frey and David Kerr (Managing Director of Allos Ventures) will be joining the 120WaterAudit Board of Directors.
120WaterAudit had recently announced the addition of its predictive intelligence module — which includes Lead Service Line Probability Finder. This function streamlines the lead service-line inventory process using geographic, demographic, and customer data to pinpoint properties that need to be addressed thus eliminating the need for complicated spreadsheets.
“Working with 120WaterAudit has played a key role in ensuring we have immediate access to the data we need to ensure the water in our facilities is safe,” commented Robert Christlieb, Director of Operations, Facilities for Chicago Public Schools. “We’re focused on transforming our existing program and are completely confident that 120WaterAudit can help us achieve this goal as we both share in the mission to provide our students with water that is safe for consumption.”
