WALNUT CREEK, Calif.,
Oct. 22, 2021 /PRNewswire/
-- SewerAI, a global leader in use of AI computer vision and
Cloud computing sewer condition assessment, today announced that
Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure
engineering software company, participated in SewerAI's
$1.5m venture round through the
Bentley iTwin Ventures Fund. Bentley joined Burnt Island Ventures,
Builders VC, and EPIC Ventures among others in this round.
SewerAI Acquires funding from Bentley iTwin Ventures to Expand
Digital Twin Capabilities in Wastewater Space
SewerAI uses artificial intelligence and computer vision to
inspect, identify and analyze sewer infrastructure defects.
SewerAI's AI, cloud-based software AutoCode™ significantly enhances
and accelerates sewer infrastructure inspections. SewerAI was
established by sewer infrastructure inspection technology veterans
Matthew Rosenthal, SewerAI's CEO,
and Billy Gillmartin, SewerAI's CRO,
to address the massive problem of aging pipe infrastructure. US
municipalities alone spend approximately $50
billion each year maintaining this infrastructure, mainly
using manual inspections, data delivered via physical disks, and
desktop-based software. SewerAI harnesses the power of artificial
intelligence and computer vision, along with a cloud workflow
platform to automatically detect pipeline defects, allowing sewer
inspections to be completed in a fraction of the time with
increased accuracy. SewerAI's machine learning training dataset
consists of millions of feet of labeled video inspection data,
growing daily, all manually reviewed and validated. Since the
launch of SewerAI's Pioneer platform in late Q1 this year its users have uploaded more than
1.5M feet of inspection data and
watched over a 1000 hours of video
footage. To date SewerAI has saved over 45,000 engineering
hours and millions of dollars for their customers.
SewerAI's Co-Founder and CEO, Matthew
Rosenthal, said, "SewerAI is thrilled to welcome Bentley
Systems as an investor in our growing company. At SewerAI we
are automating and modernizing the traditionally cumbersome, slow,
and costly process of inspecting and maintaining sewer pipes.
We're also excited by developments in the market, as one of the
largest sewer utilities in North
America, the City of
Houston, has recently chosen SewerAI to implement critical
aspects of its obligations under the Clean Water Act, enabling this
utility to eliminate environmentally damaging sewer overflow events
which pose risks to public health. With Bentley Systems'
support and their iTwin platform, SewerAI will continue to develop
best-in-class solutions across the entire wastewater infrastructure
life cycle. Having Bentley as part of our investment and advisory
team will help guide SewerAI to deliver the highest possible value
to both our customers and our shareholders."
Bentley's Chief Acceleration Officer, Santanu Das said, "Matt and Billy bring a
unique combination of technical capabilities and operational
expertise in the sewer industry, each having spent more than 10
years in the space. This experience shows in how quickly they have
progressed the SewerAI platform and team. SewerAI is
targeting a profound operational challenge in water infrastructure
– prompt, accurate and cost-effective inspections. We envision that
SewerAI would leverage Bentley's iTwin platform to enable sewer
digital twins to be evergreen by augmenting them with real time
defect classification through AI on sewer pipe videos."
"We are excited to be supporting and joining Matt, Billy and
the entire SewerAI team as they improve water infrastructure
management," said Tom Kurke, Vice President of Bentley Systems'
iTwin Ventures. Mr. Kurke continued, "We appreciate the
opportunity to join this round and excited to be investing
alongside a fantastic syndicate. We invite companies like SewerAI
which are developing transformative infrastructure digital twin
solutions to reach out so that we can start a
conversation."
About SewerAI
SewerAI is a global leader in sewer condition assessment and
inspection data management. Based in Walnut Creek, CA, SewerAI leverages its cloud
inspection management platform (Pioneer™) and AI Computer Vision
tools (AutoCode™) to help wastewater professionals to accelerate
productivity, increase accuracy, and reduce the cost to maintain
and renew aging collection systems. With millions of feet of sewer
data under management by municipalities, environmental services
contractors and engineering firms, SewerAI is revolutionizing
infrastructure assessment and improving environmental health for
people.
For more information, visit
http://www.sewerai.com/ and https://youtu.be/OvkG9MiF2Mo.
Try it Today at https://pioneer.sewerai.com
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SOURCE SewerAI Corporation