WINT Water Intelligence, a leader in cutting-edge water management and leak-prevention solutions for construction, commercial and industrial applications, has completed a $15 million Series B funding round. The round was led by New York-based global private equity and venture capital firm Insight Partners and included participation from existing investors and numerous global construction and real-estate companies, such as Suffolk Construction, the Consensus Business Group, Tidhar, Electra, Ashtrom, Rogovin, and the Israel-Canada group.
Helping save water…
Water waste and leaks within built environments pose many risks to people, companies, and the planet alike. It can damage facilities, real estate, and construction sites, as water damage in facilities is a major source of insurance claims, with over $13 billion in annual payouts. Moreover, water waste and damage are also harming our planet, as it contributes to global water scarcity and carbon emissions since 13% of electricity consumption in the United States is related to water distribution and treatment. WINT is dedicated to not only helping businesses prevent the hazards, costs, waste, and environmental impact associated with water leaks and waste but also conserving one of the world's most precious resources. They do so with their AI-driven, IoT water intelligence technology. WINT helps organizations eliminate water damage and the impact of water-leak disasters, reduce consumption by 20%-25%, and cut both their operational expenses and environmental footprint.
This round of investments will allow WINT to continue to grow, with market expansion and innovation to help owners, contractors, facility managers and insurers prevent water damage and improve their sustainability stance with reduced carbon and water footprints. Insight Partners has immense experience in scaling up innovative start-ups, so WINT is looking forward to the accelerated growth this support will spawn.
Nikitas Koutoupes, Managing Director at Insight Partners stated, “We were greatly impressed by WINT’s market traction, growth and breadth of vision and we look forward to partnering with them as they build a leading position in this industry.”
WINT Water Intelligence was founded in 2018 by Yaron Dycain and Alon Geva. The company serves customers around the globe, including the Empire State Building, Microsoft, HP, Dell, PepsiCo, Mace, and Brasfield & Gorrie. They have raised a total of $25 million to date.