Fathom, a software company specializing in solutions for water utilities, recently received a major backing of investment. The investments were made by XPV Capital Corp. and Silver Lake Kraftwerk Fund LP.
Usage of funds
The utilization of the fund will be directed towards expanding a platform, which will help utilities improve their billing costs. The software also improves the customer service, as per a statement released by the Phoenix headquartered company. The terms and conditions of the investment were not disclosed.
According to Trevor Hill, Fathom’s Chief Executive Officer, the software company, whose system assists in managing data extracted from approximately 4 million units of water meters, is expecting to add a million or two more in 2015. He reiterated that his company has the capacity to ramp up significantly, about hundreds of millions, if needed.
Fathom is currently in talks with a few of the world’s biggest manufacturers of water meters so that the company can jack up its economies of scale. It will help the company to acquire more customers from the water industry.
The large investment made in Fathom will help the company to get through a few years when it makes plans to concentrate primarily on the untapped US market, as disclosed by Hill.
The Fathom advantage
Fathom Utility-To-Utility Solutions were created by Global Water Resources, a company recognized as one of the important global innovators when it comes to Total Water Management. Its products help to optimize and support regulated water utilities and also waste water utilities. At present, Fathom sells a bouquet of advanced technology products that are tried and tested in the field. It prides itself as a utility which serves other utilities and brings an extra efficiency to operations.
Fathom products streamline the business and offer immediate savings in costs. The deployment techniques lead to shorter implementation timelines compared to its traditional counterparts. Athey also offers a low-barrier entry to utilities so that they can access the sophisticated software applications to run their operations.
Utilities require data to know the cause of the increase in price. The utility companies require an increased amount of data to manage the losses due to leaks, operating the utilities and then to make sure that they are billing to maximize their revenues. Fathom is an exclusive real time platform, which allows customers to track their utility consumption in real time.