This is the latest in my series of posts spotlighting underrepresented communities around the world and the entrepreneurs trying to help them. In this installment, I talk to a company tapping into water utility data to stop leaks, and stop people from losing their service.
Although many people work hard to ensure important resources like water are not wasted, there are still times when we lose it without even knowing it. When this happens, it means higher water bills, waste of one of our most valuable resources, and sometimes, customers getting their service shut off.
It is an overnight success 30 years in the making. As our masthead suggests, we have been covering the intersection of government and technology for more than three decades. So why the GovTech 100, and why now?
Valor Water is endorsed by Lux Research as both a "high potential" and "dominant" technology in the water technology space, according to an article published today "Boiling Down the Top IoT Startups in the Water Industry".
A recent Bloomberg Technology Report highlights Valor Water as part of the newly branded Smart Cities sector.
"City governments are in part fueling the shift in sentiment, turning to venture investors and startups to spawn innovative ways to use the data. They’re subsidizing office spaces, providing tax benefits and funding incubators.
That’s creating fertile ground for young companies. Radiator Labs, founded in one of Columbia University’s graduate apartments to reduce heat waste from radiators, got permission to test in the school’s housing before going on to get support through a state-funded program. U.K.-based Pavegen, which creates flooring that converts footsteps into energy, plans to install its technology in Washington’s Dupont Circle. By helping utilities track water use, San Francisco-based Valor Water Analytics is aiming to reduce waste and more efficiently distribute the resource."
Clara Brenner and Julie Lein, the co-founders and managing partners of the Urban Innovation Fund, are recipients of NBC's 21st Century Solutions Award. 21st Century Solutions is a grant program that gives money to entrepreneurs who are helping move communities forward.
They save the best for last and announce portfolio company Valor Water Analytics as a company to watch.
FROM TECHCRUNCH—Faced with droughts and an increasing environmental effort in America to conserve water, utility companies have struggled to keep their financial houses in order in light of reduced usage. One former Startup Battlefield competitor — Valor Water — hopes to help these companies get back on track. Read the full article here
Valor Water Analytics, a company that delivers water loss and efficiency analytics to utilities, announced Friday the close of a $1.6 million funding round, led by Shore Ventures II and including Apsara Capital, Syzygy West, Urban Innovation Fund, and 500 Startups.
When Christine Boyle started her company Valor Water Analytics, she didn’t expect it would be a Silicon Valley technology startup.
After all, the company, founded in North Carolina, based on her PhD work, helps public water utilities analyze their data to conserve water and increase revenue. It’s not your typical photo sharing or chat app.
The company’s main product is a revenue loss detection tool that analyzes a utility’s data to help identify leaks, broken meters, and other lost revenue. Clients have added an average of 2.3% of revenue by using the service. The subscription service uses software without requiring any hardware to install.
Valor Water Analytics was featured in a Consumers’ Research article that highlighted the ways “analytic software can help water utilities understand how water conservation and changes in general water use patterns are impacting their revenue.” Using sophisticated data analysis this software can help utilities discover lost revenue and produce substantial cost savings. These savings, according to Valor Water Analytics President Dr. Christine Boyle, “can help reduce [utilities’] expenses, increase revenue, increase liquidity (more cash that isn’t restricted), and can help reduce leverage (pay down debt).” The article can be read here.
SAN FRANCISCO, CA, January 8, 2015 — Valor Water Analytics is one of 12 companies from a global pool of 100 applicants selected to participate in the 2015 Imagine H2O Water Infrastructure Challenge. Valor Water Analytics is a subscription-based software as a service product that delivers a suite of business intelligence tools for water utilities to address financial issues such as conservation, revenue risk, and affordability by leveraging utilities’ own data.