The innovative technology company Smartvatten has developed water consumption monitoring solutions for real estate owners, housing companies and public entities, mainly in the Nordics and Benelux. Organisations occupying more than 10,000 buildings and 200,000 apartments across 22 countries rely on Smartvatten to improve their water efficiency.
Specialists in water efficiency
Smartvatten’s “hardware-as-a-service’ solutions helps customers to reduce their water consumption, costs and risks related to water leaks. The solutions use artificial intelligence to monitor water consumption data and detect leaks in real-time, with timely reporting and analysis. Smartvatten’s strategic ambition is to become the undisputed ‘water champion’ in the Northern European market.
How has the business grown with Norvestor as owners?
- Grew revenue from EUR 4 million in 2020 to expected EUR 12 million in 2022, driven by both organic growth and acquisitions
- Expanded internationally in the Nordics, Benelux and Germany
- Made a strategic shift from single property to multi-property customers
- Strengthened the management and sales teams also with international capabilities
- Completed the two first add-on acquisitions, including entry to sub-metering and expansion to the utility customer segment in 2022
"Together with Norvestor, we have set a strategy to become a leading water efficiency technology provider in Northern Europe. Norvestor supports us with industry expertise, network and capital.”Jussi Niiniaho, CEO, Smartvatten
Saving water through smart technology
While most of us take access to water for granted, millions of people deal with water scarcity on a daily basis. And by 2030, that will be true for 40% of the world’s population. Smartvatten is committed to preserving water. Through machine learning and real-time data capture, Smartvatten enables property owners to detect leakages early on, enabling fast action to avoid damage and excessive water consumption. Smartvatten estimates that its solutions detected 41,000 leakages and saved over 12 million cubic metres of water in 2021 – equivalent to 4,800 Olympic-sized swimming pools. As well as saving water, the company’s technology helps customers reduce their carbon emissions by using heated water more efficiently. On average, Smartvatten’s customers cut 20% of their water costs as well as free up their maintenance crews’ valuable time. The company is working towards international standards (ISO) accreditation for its systems for quality management and environmental management. Smartvatten’s people focus includes plans for a leadership training programme for greater employee empowerment.
Read more about Norvestor’s approach to sustainability here.
Smartvatten is addressing a sizable market where growth is supported by increasing sustainability awareness and regulation, including the EU taxonomy classification system for sustainable activities. A pioneer in its industry, the company’s strategy is to offer clients access to its proprietary data at a competitive price. Smartvatten had 43 employees (FTEs) in 2021. Today, Smartvatten has over 100 employees, located in Nordics, Benelux and Germany.
"Thanks to Norvestor’s support, Smartvatten has been given the muscles and roadmap to reach our ambitious growth goals. We have already completed two acquisitions which have brought us closer to our target, and it is exciting to know that this is just the beginning of the journey.”Sophia Pettersson, Head of Customer Success