Klir the way: Digital water firm raises $16m Series A
Canadian company Klir is the latest to ride the new wave of investment starting to flow to digital water solutions.
A single integrated platform
Canadian company Klir is the latest to ride the new wave of investment starting to flow towards digital water solutions.
The company raised $16 million Series A investment by New York-based global private equity and venture capital firm, Insight Partners.
The company is currently working with utilities including the Southern Nevada Water Authority, through to Urban Utilities in Queensland, Australia.
Promising a cloud-based, “single integrated platform” to help manage watershed-level operations, Klir offers a Software as a Service (SaaS) model.
David Lynch, co-founder and CEO of Klir, said: “The climate crisis has brought water into the forefront for VCs (venture capitalists). Klir is built on the premise that water works in nature as a single system – and that’s how it must be managed.”
He said the investment will allow the firm to “rapidly expand the depth of our product, and deliver a complete solution for water management that our users so critically deserve”.
Josh Fredberg, managing director of Insight Partners, said: “Water is an under-tapped market that we are increasingly excited about.”
The news is a positive sign for digital start-ups wishing to attract previously locked investment.
It follows SaaS company Transcend securing $10 million private equity investment, as well as Island Water Technologies’ sensor platform, Sentry, raising a $2 million Series A.
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