JMI Equity backs SewerAI with growth investment
Based in Walnut Creek, the software company helps utilities, contractors and engineering firms inspect, assess and plan rehabilitation for sewer and underground infrastructure.
Takeaways
- SewerAI is a AI platform for sewer and underground infrastructure intelligence.
- JMI Equity is acquiring SewerAI.
- The target serves municipal water and sewer utilities, engineering, construction across North America.
A growth equity financing led by JMI Equity brings SewerAI new capital for its Walnut Creek, Calif.-based AI software platform for sewer and underground infrastructure intelligence.
Terms were not disclosed for the investment, which included continued participation from Innovius Capital, Epic Ventures, and Bentley Systems.
SewerAI's software helps utilities, contractors and engineering firms capture field inspection data, manage cloud records, automate NASSCO coding through AutoCode and plan capital projects through Risk & Rehab.
The company supports data from more than 2,000 cities, manages over 30,000 miles of pipe and has completed more than 850,000 NASSCO surveys, with customers including the City of Houston, City of Phoenix, KC Water, HDR and PURIS.
“SewerAI sits at the intersection of several powerful tailwinds: aging pipeline infrastructure, labor constraints, and the rapid adoption of AI-powered automation,” said Chase Thomet, Partner at JMI Equity.
Shea & Company served as exclusive financial advisor to SewerAI.
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