Provider of powerful AI-based water management systems elevates expectations entering 2024
NEW YORK, Jan. 10, 2024 /PRNewswire/ — As organizations around the world face rising costs related to water damage and increased focus on water sustainability, WINT Water Intelligence is building on its success in 2023 to continue solving these challenges for insurance, construction, facilities, and property management companies.
In 2023, WINT helped over 400 leading global enterprises mitigate water damage and reduce their environmental footprint; these customers saved a total of 652 million gallons of water which would have resulted in the release of 22,000 metric tons of carbon emissions. In addition, WINT’s solutions prevented over 900 water damage incidents with a total damage potential of tens of millions of dollars.
WINT’s success in preventing water damage has helped accelerate the growth of its insurance network, which includes carriers, brokers, MGAs and risk-engineering firms and has nearly tripled during the year.
“The economic impact of water damage in buildings and construction sites, combined with increased water stress and scarcity, has ripple effects that impact a wide variety of industries,” said Yaron Dycian, chief product and strategy officer for WINT. “Rising insurance costs for construction and commercial and residential buildings are adding to the impact of the climate crisis and global water shortages. We’re proud that we’ve managed to help our customers avoid the pain of water damage in their facilities, and of having helped reduce the environmental impact of building on water supplies.”
Throughout the year, WINT implemented a variety of innovative solutions to help contractors, insurers and property and facilities managers meet the challenges associated with water waste and damage. Over the last 12 months, the company has:
Launched a unique performance warranty program designed to mitigate steeply rising deductible costs in the builders’ risk market. Backed by leading multi-line specialty insurance carrier HSB, part of the Munich Re family, the unprecedented warranty provides financial relief of up to $250,000 for water damage on WINT-protected construction sites. The program helps developers and general contractors concerned about the rapidly rising cost of insurance and deductibles, with exclusions specifically for water leak damage.
Completed a $35 million Series C funding round led by Inven Capital and Insight Partners, demonstrating investor confidence in the power of WINT’s AI-based water management solutions to help businesses drive growth.
Passed the incredible milestone of more than 10,000 systems installed, reaching a total of 14,000 systems, reflecting the company’s position as the leader in water management technology solutions.
Grew its customer base by 35% to 400 enterprises around the world.
Launched the advanced WINT3 platform to provide building owners, developers, general contractors and facilities managers the most powerful tools available to reduce risk and waste throughout the lifecycle of a building.
Reached a cohort of top global leaders shaping critical investment priorities in real estate and infrastructure by joining Taronga Ventures’ exclusive ESG Impact Innovation Program.
“Our achievements in 2023 reflect the serious need for lasting solutions to the problems and costs associated with leaks, water waste and water damage,” said Alon Geva, CEO of WINT. “As we continue to build on our innovation and passion for helping organizations thrive in demanding circumstances, we’re using these accomplishments as the foundation for the results we deliver to customers and our shared future success.”
WINT equips contractors, developers, owners and facility management teams with a cutting-edge solution for managing water throughout the lifecycle of a building, from construction to operation. The WINT platform includes automated leak mitigation with real-time detection and auto shutoff; unparalleled anomaly detection and analytics powered by advanced AI algorithms; and enterprise-grade management for operation in large and mid-sized facilities. WINT is used globally by customers including the Empire State Building, HP, PepsiCo, Suffolk Construction, as well as many other leading enterprises, general contractors (GCs) and facility owners.
For more information about WINT, visit https://wint.ai.
About WINTWINT Water Intelligence is dedicated to helping businesses reduce their environmental footprint by preventing 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 and its associated carbon emissions and to mitigate water-leak disasters. WINT has been recognized by Fast Company and CB Insights as one of the world’s most innovative AI companies and has won multiple awards including “Next Big things in Tech” and Insurance Times’ claims prevention technology award. It was also listed at the top 30% of Inc 5000 – the fastest growing companies in America in 2022.
For more information about WINT, visit https://wint.ai.
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SOURCE WINT
