IBJ Podcast: A startup’s journey from idea to pivot to series A fundraising

120WaterAudit product - 600 px

Megan Glover launched 120WaterAudit with two partners in 2016 with the idea of targeting residential consumers nationwide with a water-testing kit that cost $120 every four months. 

It was a great time for the idea, given the water problems in Flint, Michigan, and other cities. But quickly, Glover realized governments, schools and municipal water utilities were desperate for a modern way to organize their water testing records. And so 120WaterAudit pivoted to building and selling enterprise software—a move that helped it generate $2.4 million last year. 

Now 120WaterAudit is aiming to raise at least $5 million so it can expand its customer base and roll out new software options, with the goal of becoming profitable.

Podcast host Mason King talks with Glover about the challenges of raising money and whether being based in Indianapolis helps or hurts those efforts. Her answer may surprise you!

Music credit: Underwater Bloom by Budapest BluesBoy (c) copyright 2006. Licensed under a Creative Commons Attribution license. 

News credits: WISN-TV Channel 12KDFW-TV Channel 4 and CBS This Morning

Click here to find the IBJ Podcast each Monday. You can also subscribe at iTunesGoogle PlayTune In and Spotify. Here are some of our recent podcasts:

IBJ Podcast: Funding the CIB and the Pacers’ 25-year, $800 million deal

IBJ Podcast: Why tech execs bought The Vogue in Broad Ripple

IBJ Podcast: Bill Oesterle’s TMap is asking former Hoosiers to come back home

IBJ Podcast: Lessonly’s Max Yoder on teamwork, vulnerability and how they’re connected

IBJ Podcast: IndyGo’s electric buses won’t go as far on a charge as the manufacturer promised

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: IBJ is now using a new comment system. Your Disqus account will no longer work on the IBJ site. Instead, you can leave a comment on stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Past comments are not currently showing up on stories, but they will be added in the coming weeks. Please note our updated comment policy that will govern how comments are moderated.