DrizzleX, a California-based water intelligence technology company serving multifamily and commercial real estate owners, has raised $6.8 million in Series A-2 financing to expand its sales operations, manufacturing capabilities and property management technology integrations.
The funding round was led by Israel Investment Fund Group and included investments from a consortium of existing DrizzleX customers. Participating property owners and operators had previously implemented the company’s water monitoring technology to reduce operating expenses before investing in the business.
DrizzleX develops patented micrometers that attach directly to individual plumbing fixtures, including toilets, sinks, showers, bathtubs and appliances. The devices collect water consumption data at the fixture level, allowing property managers to identify leaks and abnormal usage patterns that might otherwise remain undetected until monthly utility bills arrive.
Esther Altura, CEO and co-founder of DrizzleX, said, “Owners don’t buy water technology. They buy increased NOI. Every wasted gallon has an address, and every dollar saved is worth twenty in the value of the asset.”
DrizzleX plans to use the new capital to expand its sales and go-to-market operations, improve hardware manufacturing processes and recruit employees across key business functions. The company also intends to strengthen its partner network through integrations with property management software platforms and relationships with plumbing service providers and utility billing companies.
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