SewerAI Completes New Round of Funding to Further Modernize Sewer Inspection Using AI Tech

July 5, 2024
Plumber

SewerAI Completes New Round of Funding to Further Modernize Sewer Inspection Using AI Tech

SewerAI, a leader in AI and cloud-driven sewer condition assessment, recently announced the completion of a $15 million Series B funding round. The round was led by Innovius Capital, with additional funding from Emerald VC, Epic Ventures, Suffolk Ventures, Bentley Systems, Burnt Island Ventures and notable individual investors including Zachary Bookman, founder and CEO of OpenGov, and the CEOs of several elite AI and computer vision companies.

Aging infrastructure in the United States requires over $1 trillion in repairs and maintenance, driving demand for more efficient and accurate inspection methods. Utilities and service firms often use legacy software that is slow, error-prone and obsolete, keeping crews and equipment idle 66% of the time. With its cloud and AI-based solutions, SewerAI is ushering critical infrastructure management and maintenance into the 21st century, improving quality, accuracy and efficiency for the frontline workers who keep North America’s sewers flowing. Using SewerAI’s platform, customers have been able to double the linear feet of inspections they’re able to perform each day while increasing data quality and shortening turnaround times.

SewerAI's onscreen layout

(SewerAI's onscreen layout)

SewerAI will use the funds to expand its engineering and go-to-market teams, improve AI training, expand its product offering and scale operations. This will enable further product enhancements to increase productivity, accuracy and collaboration, and expand integrations with other solutions.

This funding round builds on the company’s recent successes, including more than doubling its revenue year-over-year. SewerAI works with some of the largest utilities and contractors in the nation, including the city of Houston and the Puris Corporation, and the company expects to double its customer base this year. SewerAI continues to expand its partner network and roll out new, innovative features that improve accuracy and productivity for frontline workers, including capabilities for running automated quality checks in the field and powering 3D manhole inspections. Its AI-based platform is deployed in production and provides real-live value to end customers, rather than theorized applications of AI.

“U.S. municipalities spend about $50 billion annually just to maintain their aging pipe infrastructure. Our software has saved tens of thousands of engineering hours and tens of millions of dollars for our customers. This new funding round will enable us to expand our product portfolio and scale as we continue to provide massive value to our customers and partners,” says Matthew Rosenthal, founder and CEO of SewerAI.

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