WINT Announces a $15 Million Round for Water Sustainability and To End Water Waste and Damage in the Built Environment
NEW YORK, Jan. 11, 2022 /PRNewswire/ -- 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 with participation from existing investors including Marius Nacht, one of Israel's leading serial entrepreneurs, founders, and investors. The round also included numerous global construction and real-estate companies, who are keenly looking to solve the challenges posed by water sustainability and damage in their facilities and construction sites. These include Suffolk Construction, a national technology-driven general contractor, the Consensus Business Group, the U.K.'s largest owner and manager of residential and commercial property, Tidhar, Electra, Ashtrom, Rogovin, and the Israel-Canada group.
The investment drives WINT's continued 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.
Water waste and leaks pose persistent challenges for industries across the built environment by contributing to global water scarcity and carbon emissions, with 13% of electricity consumption in the United States related to water distribution and treatment. Moreover, water damage in facilities is a major source of insurance claims, with over $13 billion in annual payouts. As the leading provider of AI-driven water intelligence technology, WINT helps organizations eliminate water damage, reduce consumption by 20%-25%, and cut operational expenses and environmental footprint.
"We're excited to have Insight Partners join and help us accelerate growth," said WINT's CEO, Alon Geva. "The combination of Insight's experience in scaling up innovative startups, combined with the broad endorsement from leading GCs and real-estate companies who joined our journey will allow us to continue our drive to eliminate water damage, waste, and carbon emissions in buildings"
"WINT solves some of today's key challenges in the real estate, construction and property-insurance industries, which are primed for significant technological disruption and transformation," said Nikitas Koutoupes, Managing Director at Insight Partners. "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."
"Water leak damage, waste and their resulting carbon emissions can be major issues on construction sites and in real estate facilities operations," said Wan Li Zhu, Managing Director of Suffolk Technologies, the venture capital platform of Suffolk. "We are excited to be an investor and to partner with WINT to accelerate market adoption of this important solution that improves sustainability of the built environment."
For more information about WINT, visit https://wint.ai.
WINT is passionate about helping the world conserve one of its most precious resources and dedicated to helping businesses prevent the hazards, costs, waste and environmental impact associated with water leaks and waste. Utilizing the power of artificial intelligence and IoT technology, WINT provides a solution for commercial facilities, construction sites and industrial manufacturers looking to cut water waste, reduce carbon emissions and eliminate the impact of water-leak disasters. For more information, please visit www.wint.ai.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.