WaterSmart Software is a technology company.
WaterSmart Software has raised $13.8M across 4 funding rounds.
WaterSmart Software has raised $13.8M in total across 4 funding rounds.
WaterSmart Software is a SaaS platform company that provides cloud-based customer engagement and water analytics tools for water utilities. It serves utilities by delivering personalized water usage insights, behavioral nudges, and analytics to reduce consumption by about 5%, cut operating costs, boost customer satisfaction, and support resource conservation using big data, behavioral psychology, and cloud computing.[1][2][3][6] The platform addresses water scarcity and inefficiency challenges, particularly amid droughts, enabling utilities to educate millions of customers on usage patterns compared to peers and offer tailored recommendations, with proven system-wide savings.[1][2][3]
Founded in 2009 in San Francisco with 21-50 employees at its peak, WaterSmart raised $18.55M in funding before being acquired by VertexOne in May 2020, integrating into a broader utility SaaS provider serving nearly 200 utilities and 17 million end customers.[2][3][5][7] Post-acquisition, its tools enhance VertexOne's asset-to-cash processes with seamless integration for water, electric, and gas utilities, maintaining its status as a top performer in customer engagement and analytics.[2]
WaterSmart Software was founded in late 2009 (November per some records) in San Francisco by Peter Yolles and Rob Steiner, sparked by a California drought that highlighted the need for data-driven water conservation.[1][3][5] The duo leveraged emerging big data and cloud technologies to create tools that go "beyond the meter," providing utilities with actionable intelligence on customer behavior without requiring new physical infrastructure.[1][4][5]
Early traction came from proving 5% water savings in 12 months via mobile/online engagement, attracting investors like DFJ, Physic Ventures, Westly Group, Apsara Capital, and others across Series A ($4.5M in 2013) and later rounds totaling $18.55M, including structured debt in 2017.[2][3][7] Pivotal recognition included the World Economic Forum Technology Pioneers Award for impactful innovation in water management.[4] The 2020 acquisition by VertexOne marked a key milestone, aligning with advanced metering adoption and expanding reach under CEO Kevin Kern's leadership.[2]
WaterSmart rides the smart cities and climate adaptation waves, applying IoT-era metering data to water distribution efficiency amid growing scarcity from climate change, urbanization, and droughts.[1][2][4] Timing aligns with utility digitization—advanced metering infrastructure (AMI) rollout creates data floods that WaterSmart analytics tame, turning raw usage into behavioral insights for conservation.[2]
Market forces like regulatory pressures for sustainability, rising energy costs tied to water treatment, and consumer demand for transparency favor it; sectors like energy management and water quality monitoring amplify its role in North American utilities.[2][4][7] By influencing 17 million end customers via VertexOne, it shapes ecosystem-wide efficiency, setting standards for data-driven resource stewardship in proptech and cleantech.[2][5]
Integrated into VertexOne, WaterSmart's platform is poised for expansion as utilities accelerate AMI adoption and face intensifying water crises, potentially growing via AI-enhanced predictive analytics and multi-utility bundling.[2] Trends like climate resilience mandates, edge AI for real-time leak alerts, and global smart water markets (beyond North America) will propel it, evolving from standalone pioneer to core component of comprehensive utility SaaS ecosystems.[1][4]
This positions WaterSmart as a enduring force in conserving vital resources through smart data, directly tying back to its drought-born mission of empowering communities to save water, energy, and money.[1][3]
WaterSmart Software has raised $13.8M in total across 4 funding rounds.
WaterSmart Software's investors include The Westly Group, Venrock, William Rosenzweig.
WaterSmart Software has raised $13.8M across 4 funding rounds. Most recently, it raised $7.0M Series B in April 2015.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Apr 1, 2015 | $7.0M Series B | The Westly Group, Venrock, William Rosenzweig | |
| Aug 1, 2013 | $5.0M Series A | The Westly Group, Venrock, William Rosenzweig | |
| Mar 1, 2012 | $950K Seed | Venrock | |
| May 1, 2011 | $900K Seed | Venrock |