ITpipes secures $20 million to transform water infrastructure management with AI, cloud solutions
(UI) – ITpipes has secured $20 million in equity financing from Trilogy Search Partners and Miramar Equity Partners. ITpipes streamlines infrastructure management, making sewer and storm system compliance and oversight more efficient, accurate and cost-effective. This results in safer, cleaner communities.
Most water and wastewater infrastructure in the U.S., constructed around World War II, is beyond its typical life expectancy and requires replacement, rehabilitation or higher-than-usual maintenance.
The U.S. Environmental Protection Agency anticipates that $630 billion will be needed to maintain existing infrastructure over the next 20 years, a 73% increase from its 2012 survey.
Through proper planning and a focus on assessing the condition of underground assets, agencies can avoid catastrophic problems that often impact above-ground assets such as streets, utilities, new construction and more.
ITpipes helps them do this by leveraging AI and machine learning for automated condition assessment and providing quality inspection records for decision-making. ITpipes offers powerful cloud-based tools housed in a single, authoritative inspection repository. By leveraging Environmental Systems Research Institute (ESRI) mapping for visualization, these tools help cities transition from reactive to proactive pipeline planning.
With this investment, ITpipes will accelerate innovation for municipalities, ensuring continued growth and enhanced client offerings. Specifically, the funding will allow ITpipes to scale its operations, elevate customer service and develop new products, such as advanced AI-driven condition assessment technology for managing underground infrastructure.
“When municipalities select ITpipes for system maintenance and management, they significantly reduce emergency responses, unexpected disruptions for residents with sewer overflows and reactive remedial actions that later require subsequent solutions,” said Aaron Perrine, managing partner at Trilogy Search Partners.
“Proactive infrastructure management with the right tools translates into substantial cost savings. We’re investing in ITpipes because of its proven track record in the market and the tremendous opportunity for its technology to enhance the well-being of communities across the country.”
“For over 25 years, this team has delivered innovative solutions and dedicated service to improve buried asset maintenance and rehabilitation,” said Ned Bebawy, CEO of ITpipes.
“Our technology saves over 300 municipal clients nationwide time and money every day while enabling data-driven decision-making, helping communities thrive and safeguarding the resilience of these essential systems. This investment empowers us to further our commitment to pioneering sustainable advancements in cloud-based pipeline inspection technology.”
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