Key Takeaways
– ITpipes, a pipeline inspection software company, raised $20 million in a funding round backed by Trilogy Search Partners and Miramar Equity Partners.
– Founded in 2009, ITpipes software aids municipalities in efficiently managing maintenance of their underground assets.
– The company transitioned its base from Albuquerque to Seattle and is currently led by CEO Ned Bebawy, a former COO of AutoLeap.
– Over 300 municipalities across the country utilize ITpipes for underground asset inspection.
ITpipes Elevates its Utility with $20 Million Funding
Seattle-based software company, ITpipes, recently amassed a whopping $20 million funding from Trilogy Search Partners and Miramar Equity Partners. These funds are targeted towards improving the management and maintenance of cities’ underground assets such as sewer and storm systems.
Aaron Perrine, a managing partner at Trilogy Search Partners, expressed his confidence in ITpipes technology, stating, “We’re investing in ITpipes due to its proven market performance and the immense potential its technology has to enhance communities’ well-being across the nation.”
Streamlining Inspection of Underground Assets
ITpipes’ software specializes in streamlining the process of collecting, analyzing, and managing pipeline inspections. Their services extend to a variety of underground assets, including sewer lines, storm lines, manholes, culverts, laterals, and tunnels.
The software is currently used by over 300 municipalities. These users attest to the efficiency and effectiveness it brings to managing their underground infrastructure. This is especially essential in the United States, where most water infrastructure was constructed after World War II or even earlier, as per the EPA.
From Albuquerque to Seattle: ITpipes’ Growth Journey
ITpipes journey began in 2009 in Albuquerque, later transplanting its base to Seattle. The company’s leadership rests on the shoulders of CEO Ned Bebawy, the former COO of AutoLeap who joined the company in 2020. With a team of 60, ITpipes has proven its worth in the market, attracting significant investments.
This capital infusion will fuel the company’s ambition to help municipalities effectively manage their resources, ensure the long-term sustainability of their infrastructure, and in turn, advance the well-being of their communities.
An Investment in Community Well-being
Investment in a software such as ITpipes underlies the growing recognition of integral role technology plays within infrastructure management. With such software, urban management becomes more efficient and less resource exhaustive.
ITpipes exemplifies the innovation required to handle and maintain the vast and often antiquated underground networks essential to city life. It’s not just about managing assets, but about ensuring the ongoing health and vitality of communities. This funding indicates a promising future for ITpipes and similar companies pioneering advanced solutions for infrastructure management.
The $20 million fund infusion is a testament to ITpipes’ future potential and the faith invested in their technology by Trilogy Search Partners and Miramar Equity Partners. Watch this space to see how their ambitious endeavor impacts infrastructure management on a national scale.
Concluding Thoughts
In a world where cities are bustling and constantly evolving, it is crucial to have effective and efficient systems in place. The progressive technology of companies like ITpipes can immensely help in ensuring the long-term sustainability of key infrastructures across the country.
Not only does this kind of technology aid city management, but it also serves the community at large. ITpipes’ successful funding round demonstrates the rising trust in tech-based solutions, even in traditionally less digital contexts, and its potential to revolutionize how municipalities manage their underground assets.
