ITpipes, an established leader in pipeline inspection software, announced today that it has secured $20 million in equity funding 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 creates safer and cleaner communities.
With this funding round, ITpipes will accelerate innovation for municipalities, ensuring continued growth and enhanced client offerings. The funding will enable ITpipes to scale its operations, elevate customer service and develop new products, such as advanced AI-driven condition assessment technology for managing underground infrastructure.
Trilogy Search Partners and Miramar Equity Partners co-led this funding, driving the need for advanced technology to empower cities to take a proactive stance with underground assets.
Through proper planning and a focus on assessing the condition of underground assets, agencies can avoid catastrophic problems that often impacts above-ground assets such as streets, utilities, new construction, etc. And ITpipes helps them do this by leveraging AI and machine learning for automated condition assessment and providing quality inspection records for decision-making. ITpipes provides 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.
The U.S. Environmental Protection Agency (EPA) anticipates that hundreds of billions will be needed to maintain our existing infrastructure over the next 20 years, a 73% increase from its 2012 survey. And with the nation’s crumbling infrastructure, now is the time for solutions like ITpipes that can help agencies make cost-effective asset management plans to preserve and protect their constituents, communities and underground infrastructure.
KEY QUOTES:
“For over 25 years, this team has delivered innovative solutions and dedicated service to improve buried asset maintenance and rehabilitation. 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.”
– Ned Bebawy, CEO of ITpipes
“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. 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.”
– Aaron Perrine, managing partner at Trilogy Search Partners
