WAVE saves lives

WAVE Saves Lives

In the past months, our engagement and portfolio company WAVE has been awarded and seen impressive growth. WAVE is the leader in swimmer safety systems that help prevent drowning. Their systems measure how long swimmers are underwater and alerts lifeguards or parents when a swimmer has been submerged too long, giving lifeguards the precious time they need to prevent drowning and save a life. WAVE's new “Lifeguard Entry Alert” (LEA) feature detects when lifeguards enter the water to make a rescue and provides facility-wide alerts.

WAVE is used by commercial pools and summer camps in both pools and lakes throughout the US. Accolades include:

• Fast Company 2022 “World Changing Ideas”

• Aquatics International “Most Valuable Product”

• 2023 FIT Sport Design Award within the Sport Equipment Design category

• Selected by Boys & Girls Club of America as the grand prize for their Aquatics Safety contest

WAVE was also recently the subject of the first ever published research study showing the real-world effectiveness of a drowning detection system. The study found that 93% of lifeguards surveyed agreed or strongly agreed that using WAVE could help save someone's life. Another 80% said WAVE helps lifeguards be more aware of how long swimmers are underwater.

On the funding side, the Company received a $72K grant from the Connecticut Center for Advanced Technology (CCAT) as part of their state-funded Manufacturing Innovation Program (MVP). It is enabling WAVE to develop new products and move to more advanced, lower-costs manufacturing processes. In addition, investment from existing investors continues to flow in.

WAVE also announced that they are now an official YMCA Shared Services Preferred Vendor, a critical step in expanding their reach into the Y market. They have also added 8 new customers including 2 new YMCAs, 1 in Albany, OR and 1 in Galesburg, IL. There is also a new system going to the city of Clearfield, UT and another one headed to New Hampshire (the first for WAVE in the for-profit camp market), bringing the total to 19 systems so far. With the seasonal ramp-up to outdoor pool and camp season, the pipeline has swelled to over 225 deals with over $100M of five-year revenue potential.