Klir Raises $17.5 Million to Accelerate Growth as Independent Water-Utility Data Platform

New updates have been reported about Klir.

Klir has secured $17.5 million in new growth capital, combining a $10 million Series B equity round with a $7.5 million credit facility from Innovation Banking at CIBC, strengthening its balance sheet and funding expansion as an independently controlled infrastructure provider to water utilities. Existing investor Insight Partners, which led Klir’s Series A, participated in the equity round, while the non-dilutive credit facility underscores lenders’ confidence in Klir’s scale, maturity, and recurring-revenue profile. Management emphasized that founders and employees will retain control of the company, positioning Klir to prioritize long-term product resilience, customer stability, and governance standards that are increasingly important to utilities making multi-decade technology decisions. CEO and Co-Founder David Lynch said the new financing allows the company to grow without shifting its ownership structure or strategic priorities, maintaining focus on durable infrastructure and long-term customer support rather than short-term exit or roll-up pressures.

The fresh capital will be directed toward enhancing Klir’s role as an operational data hub for water utilities, including continued development of its enterprise-grade platform and expansion of generative AI capabilities designed for high-stakes operational environments with strict security and compliance requirements. The company plans to scale its roughly 60-person workforce significantly over the coming year, adding talent in product development, implementation, and customer success to support onboarding and expansion across North America and other markets. The financing positions Klir to capture share in a rapidly growing digital water market, projected to nearly double from $11.5 billion in 2024 to $23.8 billion by 2033, with cumulative investment expected to reach $169.5 billion. By avoiding ownership by a larger corporate parent or private equity sponsor, Klir aims to sustain disciplined, long-term growth while delivering stable, consistent software infrastructure that utilities can rely on as a single source of truth for compliance, risk management, and operational continuity.