ITpipes, a software company dedicated to aiding cities in the maintenance of underground assets like sewer and storm systems, has secured $20 million from Seattle’s Trilogy Search Partners and Dallas-based Miramar Equity Partners.
The company’s software simplifies the collection, analysis, and management of pipeline inspections. It’s employed for inspections of sewer lines, storm lines, manholes, culverts, laterals, tunnels, and other underground assets. Over 300 municipalities utilize 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.
According to the EPA, most of the country’s water infrastructure was built following World War II or earlier.
Founded in 2009, ITpipes originally operated out of Albuquerque but now considers Seattle its headquarters. The 60-person team is led by CEO Ned Bebawy, the former COO of AutoLeap, who joined the company last year.
