Divirod Secures $3.6 Million in Bridge Funding to Revolutionize Flood Risk Management for Companies

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Aug 03, 2023, 08:00 ET

BOULDER, Colo., Aug. 3, 2023 /PRNewswire/ -- Divirod, the cutting-edge real-time flood management and water risk analytics company, proudly announces the successful closure of a $3.6 million bridge round. This significant investment is spearheaded by industry leaders GHD, Thin Line Capital, and TDK Ventures. The funding will serve to bolster the company's team, consolidate product definition, strengthen sales and marketing efforts, and AI-driven analytics for water risk prediction.

Javier Marti, Founder and CEO of Divirod, expressed his excitement about the company's groundbreaking technology. "Divirod's global water data platform is growing daily to provide a unique source of water risk data insights. With our patented technology and analytics proactively alerts private and public institutions of real-time water-related risks produced by flooding and water scarcity. We are directly addressing multiple areas insurers and companies need to properly handle water-related risk and emergencies: trustworthy and up-to-date data. Our predictive flood analytics, based on real-time measurements and powered by artificial intelligence, are a game-changer for companies, insurers, and governments to leverage."

Divirod's vision is to establish the most comprehensive local, national, and global water-data networks by bringing together proprietary and third-party curated data for real-time analysis. The company's Flood Early Warning and Monitoring Solution is a groundbreaking system that continuously monitors locations on-site 24/7 using a network of proprietary sensors. Users receive instant alerts via email and text messages of impending floods, giving companies a crucial advantage in on-premise tracking - an offering that sets Divirod apart from other water-risk assessment companies. The benefits of Divirod's solution span various verticals, including real estate, insurance, and state and local governments, empowering them to meet their goals and prevent harm.

GHD's Executive General Manager - Strategic Investments, Phil Bradley, said, "The vast economic and social impact of water-related disasters, such as floods, storms and droughts, mean new technologies are essential to reduce the impact on millions of people and their communities globally. Divirod's approach is very different and enables the acquisition and analysis of accurate data which facilitates better decisions earlier, to increase the resiliency of business and communities. This is why we are proud to be making this investment as part of our shared commitment to a sustainable future."

Aaron Fyke, Founder and Managing Partner of Thin Line Capital, is one of Divirod's earliest investors. "With increased climate risk, asset holders are now recognizing the value of more data to guide mitigation strategies. However, what is needed isn't just more data, rather, it is data that is targeted to where it is needed most, and it is the right kind of data. I was really impressed with Divirod's technology and team and their vision to make these types of data analytics a reality."

Tina Tosukhowong, TDK Ventures' Investment Director and Divirod' Board Observer, commented on the potential impact of Divirod's technology. "Flood and other water-related risks affect millions of companies every year, creating economic and climate havoc. Divirod's combined physical sensor and data-driven approach to water risk management have the potential to save billions of dollars to ensure safety and predictability globally. TDK Ventures is excited to continue to invest and support this talented team as they provide an unparalleled solution so companies, insurers, and governments can be an integral part of any entity's risk mitigation plan."

The successful completion of the bridge funding marks a significant milestone for the predictive flood risk management industry, positioning Divirod at the forefront of revolutionizing how businesses and governments approach water risk mitigation and measurement.

About Divirod:

Divirod's mission is to build the most comprehensive local, national, and global environmental water-data network ever established. The company utilizes cutting-edge technology to rapidly deploy and measure all forms of water with millimeter precision, addressing critical geographic data gaps and augmenting existing, but outdated, sparse, and disparate environmental water-monitoring systems. In the short term, the Divirod network fills data gaps, enabling localized and real-time "speed to knowledge/action" for more-informed emergency responses to protect against impending water risks that threaten properties, economies, and human lives. Over time, the increase in captured data, through the Divirod global network coverage, enhances smarter water-risk decisions and guides critical resiliency initiatives to greatly minimize future water risks.

For more information on Divirod and to become part of the network, please visit https://divirod.com/ or contact [email protected]. Connect with Divirod on LinkedIn, Twitter, Facebook, and Instagram.

CONTACT: [email protected]

SOURCE Divirod