TitletownTech, the $25 million venture fund launched by the Green Bay Packers and Microsoft Corp., have invested in StormSensor, a Seattle-based company that creates stormwater monitoring software for cities and counties.
TitletownTech becomes the latest fund from the Midwest to invest in StormSensor, joining Madison's American Family Insurance Institute for Corporate and Social Impact and Sofia Fund, an early-stage investment group in the Twin Cities that only opens its checkbooks to companies run by women.
Terms of the investment deal were not disclosed. TitletownTech makes investments in the range of $100,000 to $1 million, but most often the investments range from $250,000 to $500,000.
StormSensor, founded and led by CEO Erin Rothman, developed software to prevent stormwater pollution, sewage overflow and flooding.
“The number and intensity of storms, and their floods, continue to increase with climate change, and we have a lot of work to do to build resilience into our communities,” Rothman said. “We start with data, understanding how water moves through our coastal and upland and sewer systems, monitoring how that variability impacts flow conditions, and then applying it to sustainable design solutions is an important first step that we are excited to take alongside our customers.”
Prior to founding StormSensor, Rothman worked at a Seattle consulting firm that focused on assisting property owners with monitoring stormwater.
One year after launching its $25 million venture fund, TitletownTech has backed more than a dozen startups.
“As climate change impacts the environment we love and live in, it is critical for innovation and forward-thinking entrepreneurs to tackle the massive challenges ... created. StormSensor’s solutions show tremendous progress in the area of enviro-tech, and we’re thrilled to be a part of driving environmental improvement for cities, communities, and community members everywhere,” said Craig Dickman, managing director at TitletownTech.
