Flo Technologies has unveiled Flo, an intelligent home water monitoring and conservation system that promises to help reduce water damage insurance claims. The startup has raised a total of $11.5 million from investors led by Crosslink Capital with participation from Anthemis Group and an affiliate of insurer USAA. The Flo product is a water monitoring and shut-off system that senses water pressure, flow rate and temperature and uses artificial intelligence to learn homeowners’ water usage patterns. Flo proactively detects vulnerabilities or the tiniest leaks in a home and automatically shuts off the water supply in response to a pipe burst or other catastrophic event. The product is the brainchild of Henry Halimi, a mechanical engineer with 25 years of experience who developed his invention over the last 10 years. According to ISO/Verisk about one in 50 insured homes has a property damage claim caused by water damage or freezing each year. These claims cost insurers about $9 billion a year. The average water damage claim costs about $8,860. Flo is a Wi-Fi connected device that is installed on the main water supply line to the home and includes as an app that provides control over a range of conservation and security settings. Its makers say Flo is sensitive enough to detect “micro-leaks as small as a single drop of water a minute, and intelligently learns a home’s water usage pattern,” which helps avoid catastrophic failures. Flo is a system-wide service than can detect both visible leaks (such as running toilets that could waste over 3,000 gallons of water a day) and invisible leaks (like drips behind walls or under floors). Flo does not detect water coming in from outside the home as in the case of leak in a roof. Its temperature sensors provide early warnings when pipes are about to freeze. Using the app, users can control how the system will alert them and respond to potential issues. Flo, which will sell at retail for $699 starting in the first quarter of 2018, is being made available at a discounted rate of $399 for those willing to participate in an early adopter program and allow their experience to help the company refine its product. Related: Get the latest insurance newssent straight to your inbox.
Home monitoring system Flo Technologies has raised $11.5m in a financing round including from an affiliate of insurer USAA. The firm has introduced a home water monitoring system called Flo which can track water pressure and temperature along with water usage patterns. According to the company, its product is designed for use by homeowners who want to monitor their own consumption patterns as well as those of other family members. The system will retail at $699, but is available for $399 if customers sign up for an early-adopter programme.