WINT Water Intelligence, a water management and leak-prevention solutions provider 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.