WaterSmart Software, a San Francisco, CA-based water efficiency solutions company, has closed a $1m second financing.
The round was led by Physic Ventures, with participation from Draper Fisher Jurvetson, Menlo Incubator and Sand Hill Angels.
The company intends to use the funding to accelerate the deployment of its water efficiency solution to additional utility customers.
Founded in October 2009 by Peter Yolles, CEO, WaterSmart provides a cloud-based platform for water utilities to educate residential customers about their water use and make personalized recommendations on how to conserve water. It uses behavioral science techniques to increase customer engagement, elevate consumer interest in saving water and money, and increase participation in utility-sponsored efficiency programs.
The company’s enterprise product includes an analytics platform, which allows utility managers to view how their customers use water and where efficiencies can be generated.
The service has already been deployed by five California utilities.
FinSMEs
20/06/2012