LAIIER Closes Oversubscribed US$4M Seed Extension Funding Round, Led by Closed Loop Partners
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OhioPen -- LAIIER, an innovative liquid leak detection solution provider for commercial and industrial buildings, announced today that it has raised US$4M in seed extension funding. Closed Loop Partners' Ventures Group, the venture capital arm of the circular economy-focused firm, led the financing round, with participation from six other funds.

Existing investors Burnt Island Ventures and Mundi Ventures participated in the round, and were joined by new investors Bonaventure Capital, Carlisle Ventures, One Small Planet, and Virta Ventures.

LAIIER focuses on solving the $19B+ annual problem of damage and downtime caused by liquid leaks in commercial buildings and industrial equipment. Traditional leak detection methods are inefficient, relying on manual inspections and resulting in slow response times of over 80 hours. This leads to significant financial losses, with properties experiencing between one and four large leak events annually. The severity of these leaks can vary widely, with costs escalating rapidly for severe cases and risks of expensive insurance claims and water loss increasing.

As real estate owner operators continue to seek more reliable leak detection that has a positive impact on both financial and environmental metrics, LAIIER's technology offers scale, precision, and ROI that few other solutions on the market can match.

First launched in 2022, the company's flagship water leak detection product, Severn WLD™, is currently protecting assets in a range of commercial and industrial buildings in North America and Europe, including those of Fortune 500 and FTSE 100 companies. The technology detects as little as two drops of water, offers flexible installation, precise sensitivity control, and utilizes long-range, low-power communication.

These advanced sensors, and the company's cloud platform, LAIIER Cloud™, enable early detection of leaks and real-time monitoring, contributing to substantial water savings by alerting customers to issues before they escalate. By identifying leaks in their initial stages, LAIIER's technology plays a crucial role in preventing extensive water damage to buildings and equipment, and helps mitigate the loss of water––an increasingly scarce and valuable commodity.

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"This funding round represents a pivotal moment for LAIIER as we continue to accelerate our growth across North America and Europe," said Matt Johnson, CEO & Co-founder of LAIIER. "Closed Loop Partners' Ventures Group is renowned for its leadership in sustainable innovation and its deep expertise in scaling transformative technologies. Their prestigious reputation and proven track record in advancing successful businesses align perfectly with our mission to redefine leak detection in industrial and commercial markets. We are honored to have their support and partnership."

The primary focus of the funding is to support the acceleration of LAIIER's commercial growth globally, with a particular focus on North American expansion. The funds will also support the company's continued investment in the development of its patented liquid leak detection technologies––both the commercially available water leak detection product, Severn WLD™; and the development of further liquid leak detection products for specific commercial and industrial applications.

"In an escalating climate crisis marked by increasing water scarcity and frequency of extreme weather events––from fires to flooding––solutions like LAIIER's drive awareness and action around our relationship with water and industrial lubricants, and represent a crucial step toward less damage and a better experience with insurers when damages occur. LAIIER's technology not only minimizes the risk of significant financial losses for asset owners, it can also prevent minor leaks from developing into major events, potentially conserving millions of gallons annually," said Aly Bryan, Investor on Closed Loop Partners' Ventures Group team. "We are proud to support LAIIER's continued growth in North America, and look forward to working with their team to advance circularity across industrial applications and in the built world at scale."

About LAIIER
LAIIER solves the $19B+ annual problem of damage and downtime caused by liquid leaks in commercial buildings and industrial equipment. The company's patented technologies deploy digital intelligence to detect and alert customers to leaking water, hydrocarbons, and more. Customers subscribe to the full-stack solution, which includes a unique sensor technology, connectivity and cloud services; providing a scale, precision, capability, and return on investment that competitors cannot match. LAIIER's technologies are deployed with insurers, real estate owner operators, and system integrators in North America and Europe.

About the Closed Loop Ventures Group at Closed Loop Partners
Closed Loop Partners is at the forefront of building the circular economy. The firm is comprised of three key businesses that create a platform for systems change: an investment group managing venture capital, buyout private equity and catalytic private credit investment strategies, Closed Loop Capital Management; an innovation center, the Center for the Circular Economy; and an operating group, Closed Loop Builders.

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The firm's venture capital strategy, the Closed Loop Ventures Group, has been investing early-stage capital into companies developing breakthrough circular solutions for foundational materials that underpin and significantly influence a wide array of vital sectors of the economy. These materials include organics, minerals, polymers and water. Closed Loop Ventures Group partners with founders and companies who rethink how products are designed, manufactured, consumed and recovered, with the shared vision of reimagining supply chains and eliminating waste. Closed Loop Partners is based in New York City and is a registered B Corp.

To learn about the Closed Loop Ventures Group and apply for funding, visit www.closedlooppartners.com.

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