A Zionsville-based software company that provides local governments, utilities and other systems with a digital platform to monitor their water quality is on the cusp of rapid growth.
120Water, previously known as 120WaterAudit, entered into a contract with the Indiana Economic Development Corp. earlier this month outlining the company’s plans to invest more than $2,092,000 in its operations and hire 157 workers by the end of 2022. CEO Megan Glover told IBJ last year that she was hoping to close on a Series A fundraising round to invest in 120Water’s sales and marketing, research and development and operational growth needs—including needs related to the company’s real estate and operational headcount.
120Water succeeded in raising $7 million last December, and the company stands to earn up to $2 million in conditional tax credits from the IEDC if it can overcome the pandemic’s impacts to meets its hiring and investment goals.
“Due to Covid-19, 120Water is largely working remotely and long term location plans are on hold,” Glover said in a written statement. “At the same time, we are doubling down on the future of the company and will use the state incentives to fuel growth of the company.”
The company’s 35 employees currently work out of three buildings in Zionsville: a fulfillment center, offices and the corporate headquarters.
“We are proud to have 120Water here in Zionsville. In just four years, we have seen 120Water grow and succeed from their start in Zionsville’s co-working space zWorks to now being the fastest growing digital water company in the country,” Zionsville Mayor Emily Styron said in an email. “We will continue to work in partnership with Megan Glover and her team as they research near and long term options in the area.”
Continuing to invest in Zionsville may not have always been the plan. The contract listed on the IEDC’s transparency portal still shows 120Water will be making those investments in a roughly 34,000-square-foot office space at 6100 W. 96th St., just south of Zionsville. IEDC Communications Director Erin Sweitzer said that Indianapolis address is no longer reflective of 120Water’s project location.
“I spoke with the 120 Water Audit team to clear up the confusion,” Sweitzer said. “The company ended up deciding to expand at its existing Zionsville location.”
Glover co-founded 120Water with ClusterTruck CEO Chris Baggott and CWM Environmental laboratories President Dave Kohl in 2016. The company initially offered residential consumers a water-testing kit that cost $120 every four months.
One year later, the company shifted its focus to become a digital platform monitoring the quality of local water systems. 120Water now has contracts in 14 states, and the company’s digital platform is tracking over 180,000 sample sites across the nation. Clients include the city of Newark (NJ), Pittsburgh Water and Sewer Authority and Chicago Public Schools.
120Water has also broadened its capabilities and can now test for lead, arsenic, copper and “forever chemicals,” such as Legionella polyfluoroalkyl substances in drinking water, as well as the presence of COVID-19 in wastewater. In a February press release, Glover said 120Water’s expanded offerings enable it to compete in markets valued at $15 billion.
“Lead in drinking water and the Lead and Copper Rule Revisions (LCRR) will continue to be a problem as utilities and municipalities grapple with the monumental task of replacing lead service lines and educating consumers about their drinking water,” said Glover. “Yet lead isn’t the only issue plaguing the water industry, and 120Water is poised to help in crucial areas of drinking water quality, infrastructure and compliance.”