120WaterAudit Wins Global Pitch Competition
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowZionsville-based 120WaterAudit LLC is adding to its list of accolades. The cloud-based water testing and services platform took the top prize this week in a pitch competition as part of the ImagineH20 global accelerator, which featured a dozen other companies from five countries. Megan Glover, founder and chief executive officer of 120WaterAudit, says being able to present in front of 30 industry professionals in San Francisco was a huge boon for her company.
In an interview with Inside INdiana Business, Glover said the reward for winning the competition is more than just taking home the $25,000 cash prize.
"This is the largest concentration of industry innovators that you can be in front of," said Glover. "We get bragging rights and notability, but also we actually can accelerate our product into other industries and perhaps even other countries much, much faster than we would on our own. So we get, basically, a rolodex with a who’s who of water innovation and they’re now going to help us apply our product in ways that we wouldn’t be able to do on our own."
120WaterAudit uses cloud-based software and point-of-use kits to help government agencies, public water systems and facilities such as schools and day cares executive drinking water testing programs, specifically dealing with lead. Glover says the competition was helpful for the company by serving as motivation to continue pursuing its growth goals.
"We are actually helping our clients modernize their systems, solve problems around water quality and I think what it does for 120WaterAudit, in addition to helping us secure future investment, it also gives us validation and very clear market segments for us to continue building products for," said Glover. "It basically elevates us as a company and I think give us, again, the validation in the industry that we need to continue to build our product road map out even further."
Glover says 120WaterAudit plans to double not only the amount of revenue it generates, but also the number of people it employs over the next couple of years. She says the company’s aggressive product road map will bring it into other water programs as well. The company, which began in the zWORKS coworking space, is still looking for its "forever home" and Glover says they are bullish on Indiana.
The announcement of the company’s win also comes on World Water Day, a fact that Glover calls "very humbling."