Earlier today, we announced that Tank Utility raised $6 million in a venture capital financing. I wanted to sum up a few thoughts on why we raised the funding and what this means for the future of Tank Utility and, most importantly, our customers.
To Our Customers
Most importantly, I want to say “Thanks!” To all our customers who have chosen to partner with us, you’re a big reason why we’re able to make today’s announcement. Your feedback and support over the years is what guides and drives us to build Tank Utility. Thank you for being part of the team – we look forward to many more years with you!
What Is The Funding?
If you are not familiar with venture financing, think Shark Tank. We added a new partner to the business who is helping to fund and advise on our growth over the next couple years.
This investment is a huge vote of confidence from folks who know what it takes to deliver game-changing technology. Our lead investor, Paul from Bullpen Capital, decided to invest because our growth “is a product of sound metrics and solid business fundamentals,” and they are “thrilled to be part of the vision.” We are excited to have Paul on the team to help us as we grow the company.
What Does This Funding Mean for Me?
We like to say that “the most expensive tank monitor is the one you don’t use.” Successful tank monitoring is a system that requires many pieces coming together to ensure your investment delivers value. Success often requires not just a killer product and intelligent software, but most importantly, a team that embodies the support and expertise necessary for success.
Our relationship with customers is paramount. We raised this funding to continue to improve your experience with Tank Utility. As we’ve done in the past, we will use this investment to continuously improve every part of your experience with us – from our products providing new insight and value, to our new team members providing meaningful support on achieving delivery excellence.
With any outside investment, many people will ask why we chose to do it now.
The answer is simple. We have high aspirations for where our tank monitoring solution can go and this funding will help us realize this vision faster.
We are committed to helping you achieve new levels of control and deliver more efficiently (and more profitably) during this Winter season. We are committed to providing a tank monitoring solution that is reliable, data-driven and most importantly, human.
We value our partnership with you, our customer, and we are excited to be part of your team.