Business
SewerAI Acquires funding from Bentley iTwin Ventures to Expand Digital Twin Capabilities in Wastewater Space
Extending its commitment to continue advancing infrastructure maintenance and renewal through adoption of digital platforms WALNUT CREEK, Calif., Oct. 22,
About this update from Bentley Systems, Incorporated
[{"type":"text","content":"Extending its commitment to continue advancing infrastructure maintenance and renewal through adoption of digital platforms\n\n\nWALNUT 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. \n\n \n \n \n \n \n \n\n \nSewerAI Acquires funding from Bentley iTwin Ventures to Expand Digital Twin Capabilities in Wastewater SpaceSewerAI 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. \nSewerAI'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 development...