Luminate Capital Partners invests in ITpipes
The Seattle-based software is used by more than 300 utilities, municipalities, and CCTV contractors in the U.S. and Canada to manage underground pipeline condition data.
Luminate Capital Partners has made a strategic growth investment in ITpipes, a provider of pipe inspection software for sewer and stormwater systems. More than 300 utilities, municipalities and CCTV contractors use the platform to collect and manage pipeline condition data.
ITpipes says its AiDetect tool, reviewed by NASSCO-certified experts, delivers 97% defect-detection accuracy and cuts coding and quality-assurance time by at least 50%. The company said the investment will support product and AI development.
Terms and ownership percentage were not disclosed.
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