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CST: 23/05/2019 12:27:52   

APANA Closes $11 Million Series B Financing with Lead Investor Kurita Water Industries Ltd.

44 Days ago

Funding will be used to aggressively expand reach of APANA’s Intelligent Water Management Platform™

BELLINGHAM, Wash., April 09, 2019 (GLOBE NEWSWIRE) -- APANA, creator of the Intelligent Water Management Platform, today announced it has closed an $11 million Series B raise. The round was led by current investor Kurita Water Industries Ltd., with participation from other existing investors including Cowles Company, E8 Fund, and Urban Innovation Fund.

Proceeds from the round will fund further innovation as well as expand sales and marketing of the company’s Intelligent Water Management Platform used by Fortune 500 companies, public institutions, and cities.

“Our advancements in IoT technology, analytics and automation enable organizations to now add water to their existing energy efficiency and sustainability initiatives,” said Matt Rose, co-founder and CEO of APANA. “Facility operators and property managers use the platform to avoid costs, protect assets and eliminate waste across the built environment.”

APANA’s secure IoT solution connects meters and sensors around a facility using APANA-designed devices that leverage industry leading Low Power Wide Area (LPWA) technologies.  With high resolution data and cloud analytics the solution monitors facility water infrastructure to identify anomalous use in real time. Insights and actionable, step-by-step guidance to fix problems are sent to the right person at the right time.

Although the company’s clients have demonstrated water use reductions of 20 percent or more, the real benefits go beyond simple water savings. With APANA, organizations can optimize everything that uses water, which prevents equipment failure and avoids the hidden costs of reactive maintenance and inconsistent operational practices.

The company has successfully deployed its platform with customers across more than 600 cities globally. In the commercial, industrial, and institutional sectors, APANA focuses on grocery, hospitality, food and beverage, as well as cities and other public institutions.

“As a leading company in water treatment, the Kurita Group has tackled environmental issues, providing solutions to water-related challenges across a range of industries,” said Michiya Kadota, President and Representative Director with Kurita Water Industries Ltd. “With APANA, we are excited to leverage digitization and other new technologies to further increase sustainability while creating value for our customers, our shareholders and the society at large.”

About APANA ®
APANA is the creator of the Intelligent Water Management PlatformTM, a secure IoT solution that delivers smart water management as a service for facilities everywhere. Customers include Fortune 500 companies, public institutions and cities. We are dedicated to providing practical solutions for smart water management so facility operators and property managers can avoid costs, protect assets, and eliminate waste. All while helping to ensure the sustainability of Earth’s most precious asset – water. More information is available at www.apana.com.

About Kurita Water Industries Ltd.
Headquartered in Tokyo, Kurita Water Industries Ltd. is an international market leader in advanced water and environmental management. More than 6,000 employees support its customers to improve efficiency of industrial plants and reduce environmental footprints through comprehensive capabilities that combine three business segments: Water Treatment Chemicals, Water Treatment Facilities, and Maintenance Services. Learn more at www.kurita.co.jp/english

Media Contact:
John Williams, Scoville PR for APANA
206-660-5503, jwilliams@scovillepr.com

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/d7f32908-087c-47ce-b639-9d3b61bc33c5

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