Varkain Contributes $100,000 toward Pre-Seed Round for Vutiliti

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~Vutiliti secured $600,000 to close their Pre-Seed, they are currently raising a Seed Round of $1.5 million~

“Vutiliti is going to be a monster,” Laurie Hinckley, General Partner at Varkain, said.

Varkain, a venture capital group based in Las Vegas, has contributed $100,000 toward the Pre-Seed Round for Vutiliti. Vutiliti (pronounced “view-tility”) gathers and provides real-time information on utility usage (electric, gas, water, renewables) so that consumers, businesses, and governments can monitor and budget utility usage. Vutiliti’s mobile and web programs guide consumers to actual consumption reduction, saving them money while reducing usage of water, gas, and electricity generation.

Vutiliti was part of the BoomStartup Spring Accelerator program. Along with eight other companies, Vutiliti presented at the Accelerator’s Demo Day on July 14, 2016. Members of Varkain, as well as 125 investors, including a representative from every major venture fund in Utah, were in attendance for Demo Day.

“Vutiliti is going to be a monster,” Laurie Hinckley, General Partner at Varkain, said. “The tools they are providing will allow every user to accurately track their energy spending and provide them with ways to save. Their tech is impressive, their management team is top-notch and we know they are going to be successful.”

"Varkain's Pre-seed investment is a critical component of the round, which has enables Vutiliti to finish both software and hardware product development,” Sumner Douglas, Chief Operating Officer of Vutiliti said. “The pre-seed round was comprised of the top three Angel groups in Utah and two venture funds, which is a rare compilation of keystone investors at a early phase. Thanks to the support of Varkain we will reach our development and revenue milestones for the year."

For more information on Vutiliti and to sign up to be considered for their Beta, visit vutiliti.com.

ABOUT VARKAIN
Varkain is a venture capital group based in Las Vegas. They typically seek investments in Pre-Seed or Seed Round funding. For more information on Varkain, visit varkain.com.

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