SewerAI: Sewer Condition Assessment Company Raises $15 Million in Series B

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

The announcement was covered by Pulse 2.0, authored by Amit Chowdhry and published on June 23–24, 2024.

Addressing a $1 Trillion Infrastructure Challenge

The United States faces a staggering infrastructure crisis. Aging underground pipe systems across the country require over $1 trillion in repairs and maintenance — and the tools used to manage them have not kept pace. Many utilities and service firms continue to rely on legacy software that is slow, error-prone, and increasingly obsolete. The result: crews and equipment sit idle an estimated 66% of the time, driving up costs and delaying critical remediation work.

SewerAI was built to change that. Through its cloud and AI-based platform, the company is transforming how front-line workers manage and maintain critical infrastructure — improving quality, accuracy, and efficiency at every stage of the inspection process. Customers using SewerAI's platform have been able to double the linear feet of inspections they perform each day, while simultaneously increasing data quality and shortening turnaround times.

Strong Momentum and a Growing Customer Base

This funding round builds on a period of significant growth for SewerAI. The company has more than doubled its revenue year-over-year and works with some of the largest utilities and contractors in the nation, including the City of Houston and the Puris Corporation. SewerAI expects to more than double its customer base again this year.

The company continues to expand its partner network and roll out innovative new features designed to improve accuracy and productivity for frontline workers. Recent capabilities include automated quality checks in the field and support for 3D manhole inspections. Critically, SewerAI's AI-based platform is deployed in production and delivering real, live value to end customers — not theorized applications of AI.

What the Funding Will Enable

SewerAI plans to deploy the new capital across several strategic priorities:

• Expanding its engineering and go-to-market teams
• Improving AI training and model performance
• Expanding its product offering
• Scaling operations to meet growing demand

Voices from the Field

Candice S. Miller, Public Works Commissioner for Macomb County, Michigan, spoke to the real-world impact of the platform:

"We've been doing whatever is necessary with the goal of preventing another underground infrastructure disaster. Inspections are an important element of that effort, and using SewerAI software enables us to perform that task much quicker, more effectively and more efficiently while saving ratepayers millions of dollars."

Justin Moore, CEO of Innovius Capital, explained the investment thesis:

"The U.S. is facing critical infrastructure challenges, and AI solutions that drive down costs and speed up remediation will be key. SewerAI's cloud and AI-driven solutions significantly reduce costs and enhance efficiency and accuracy in inspecting the 6.8 billion feet of sewer pipes across the nation. Its advanced technology and robust dataset make it the clear market leader, enabling field workers to eliminate repetitive tasks and focus on proactive maintenance and remediation, ultimately improving critical urban infrastructure management. We are excited to support SewerAI's growth and impact."

Matthew Rosenthal, Founder and CEO of SewerAI, reflected on the company's mission and the road ahead:

"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."

About SewerAI

SewerAI is a cloud and AI-driven platform purpose-built for sewer condition assessment. By automating and accelerating the inspection workflow, SewerAI helps utilities, municipalities, and contractors manage the nation's aging underground infrastructure more effectively. With customers including some of the largest utilities and contractors in the U.S., SewerAI's platform is delivering measurable results — doubling inspection throughput, improving data quality, and saving customers tens of millions of dollars.

Source: Pulse 2.0, by Amit Chowdhry (June 23–24, 2024).