Silver Lake, XPV Capital Invest in Water Software Maker

Dec. 2 (Bloomberg) — Fathom, a software provider for water
utilities, received a round of investment led by Silver Lake
Kraftwerk Fund LP and XPV Capital Corp.

The funds will be used to expand a platform that helps
utilities improve billing, cut costs and enhance customer
service, the Phoenix-based company said today in a statement.
Terms of the investment weren’t disclosed.

The software provider, whose system helps manage data from
about 4 million water meters, expects to add “a few million
more” next year, Chief Executive Officer Trevor Hill said today
in an interview. It has the potential to “scale to potentially
hundreds of millions of meters,” he said.

Fathom is in talks with some of the largest water meter
manufacturers to increase economies of scale for the water
industry, he said.

Fathom’s “sizable” funding will get the company through a
couple of years when it plans to focus primarily on the
“enormously under-tapped” U.S. market, Hill said.

To contact the reporter on this story:
Ehren Goossens in New York at

To contact the editors responsible for this story:
Reed Landberg at
Carlos Caminada, Randall Hackley

About BloombergNEF

BloombergNEF (BNEF) is a strategic research provider covering global commodity markets and the disruptive technologies driving the transition to a low-carbon economy. Our expert coverage assesses pathways for the power, transport, industry, buildings and agriculture sectors to adapt to the energy transition. We help commodity trading, corporate strategy, finance and policy professionals navigate change and generate opportunities.
Sign up for our free monthly newsletter →

Want to learn how we help our clients put it all together? Contact us