AQUAOSO is a US startup that created a cloud-based software platform for the assessment of water-related risks. Now, the startup from California raised a $2M seed round from the Nashville-based single family office of Alex Smith and Jessica Haywood.
AQUAOSO: Water Risk SaaS from California
The Californian startup AQUAOSO created a Water Security Score™ that aggregates „thousands of data sets to help organizations understand water risk in their investments“. Thereby, financial institutions can save time on information gathering and closing deals. AQUAOSO’s CEO, Chris Peacock, commented the vision of its startup with: “Water risk is a primary indicator of climate change as we see through intensifying droughts, floods, fires and degrading water quality worldwide. These ultimately translate into investment risk, economic losses, reputational damage and supply chain interruptions.” In 2019, the startup participated in the Techstars Sustainability Accelerator program. Today, the platform has already generated almost 7,000 reports, analyzed 2 million acres and works for 30 institutional customers.
Nashville single family office as lead investors
As previously mentioned, the funding round is led by the Nashville family office of Alex Smith and Jessica Haywood of Otter Creek investments. Haywood and Smith both had leadership roles at STR, a data analytics firm that was acquired for $450M. Smith and his family office will support the startup in its further development – Smith will join the board of directors. Co-investor Haywood is active as a business angel and philanthropic investor since leaving STR. The investment shows once again the important role of family offices in the financing of clean tech ventures.
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