Cloud-based water software platform 120WaterAudit raises funds through Series A

120WaterAudit, a cloud-based water software platform, has raised $7m in Series A funding, led by HG Ventures, which is the corporate arm of The Heritage Group.

The funding round had seen participation from Allos Ventures and Greenhouse Capital.

The proceeds from the funding will be used to boost 120WaterAudit’s Digital Water Cloud platform and increase sales and marketing efforts.

As per a 2018 study, almost 50% of all US students go to schools in states that do not have particular programmes for testing drinking water and over 40% of schools had samples with lead higher than the recommended levels.

The company’s software and kits are used by government agencies, public water systems and facilities with the responsbility of implementing regulated and voluntary water programmes.

Currently, 120WaterAudit manages over 150,000 locations in 12 states.

120WaterAudit CEO Megan Glover said: “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.

“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.”

HG Ventures managing partner and its parent company The Heritage Group EVP Kip Frey said: “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.

“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.”

Kip Frey and David Kerr, managing director of Allos Ventures, will become part of the board of directors.

Recently, 120WaterAudit added its predictive intelligence module that includes its Lead Service Line Probability Finder, which streamlines the lead service-line inventory process using geographic, demographic and customer data.

This facility helps point out aspects that need to be addressed, thereby removing the requirement for complicated spreadsheets.