ITpipes, a software company that aims to help cities manage maintenance of underground assets such as sewer and storm systems, raised $20 million from Seattle-area firm Trilogy Search Partners and Dallas-based Miramar Equity Partners.
The company’s software streamlines the collection, analysis, and management of pipeline inspections. It is used for sewer line, storm line, manhole, culvert, lateral, tunnel, and other underground asset inspections. More than 300 municipalities use ITpipes.
“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, said in a statement.
Most of the country’s water infrastructure was built following World War II or earlier, according to the EPA.
ITpipes, which was previously based in Albuquerque but now calls Seattle home, launched in 2009. The 60-person company is led by CEO Ned Bebawy, former COO of AutoLeap who joined the company last year.
https://ift.tt/xtubDCG August 13, 2024 at 11:00AM GeekWire
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