Klir has closed $17.5 million in growth financing, combining a $10 million Series B equity round with a $7.5 million credit facility from Innovation Banking at CIBC, as the company scales its operational platform for water utilities across North America and beyond.
The financing brings together continued backing from Insight Partners—an existing investor that previously led Klir’s Series A—with non-dilutive growth credit from CIBC. Klir framed the structure as a way to strengthen its balance sheet, maintain operational flexibility, and preserve long-term control in a sector where vendor stability and ownership continuity can be decisive factors for customers.
Klir positions itself as an “independently controlled operational hub” for water utilities, emphasizing that it remains founder- and employee-controlled. The company said the latest funding reinforces its intention to keep decision-making aligned with customer needs rather than external ownership pressures, particularly given that utilities typically select software platforms they expect to depend on for decades.
Proceeds will be used to continue expanding Klir’s connected operational data hub, with a focus on accelerating customer onboarding, strengthening security and governance, and investing in new product capabilities. Klir also said it is building generative functionality designed for high-stakes operational environments where accuracy and reliability are paramount. The company’s platform includes an intelligent assistant, “Boots,” which it describes as a generative agent designed to help utility teams reduce administrative workload and operate with greater confidence.
The announcement comes amid increasing investment in digital tools for water and wastewater operations, driven by aging infrastructure, workforce transitions, and rising operational complexity. Klir cited projections that the North American digital water market will grow from $11.5 billion in 2024 to $23.8 billion by 2033, with cumulative investment expected to reach $169.5 billion over the next decade.
Klir said it currently employs about 60 people and plans to expand significantly over the coming year, adding staff to support growth, product development, customer onboarding, and customer success. The company framed its approach as prioritizing customer outcomes and operational confidence, supported by partners it described as aligned with disciplined, long-term growth.
Klir’s platform centralizes compliance and operational data across programs into a single system, creating a single source of truth to reduce risk and improve continuity. The company said its enterprise-ready infrastructure and connected workflows are built to meet the reliability expectations of utilities managing critical public infrastructure.
KEY QUOTE:
“This funding allows us to grow without changing who we are. Klir is controlled by its founders and employees and that matters, especially for utilities choosing a system they expect to rely on for decades. Our priorities stay focused on building durable infrastructure, supporting our customers and investing in our product for the long term.”
David Lynch, Co-Founder and CEO, Klir
