Shea & Company Advises SewerAI on its Major Strategic Investment from JMI Equity
SewerAI Profile
- SewerAI is the leading AI platform for sewer and underground infrastructure intelligence, serving more than 2,000 cities and a national network of contractors
- The Company equips utilities, contractors and engineering firms with AI-powered software to inspect, assess and rehabilitate sewer and underground infrastructure
- SewerAI’s PIONEERTM platform unifies field capture, cloud-based data management, AI-assisted NASSCO coding through AutoCodeTM and AI-driven capital planning through Risk & RehabTM, connecting every step from the field to infrastructure planning
- The Company was founded in 2019 and is headquartered in Walnut Creek, CA
JMI Equity Profile
- JMI Equity is a leading growth equity software investor based in San Diego, Washington, D.C., and Baltimore
- With a focus on software and AI-driven companies, JMI has collaborated with founder-owners and management teams to accelerate growth and build their companies into industry leaders, investing in nearly 200 companies since its inception
- As of December 2025, JMI’s portfolio of industry-leading cloud software companies represents over $11 billion in combined revenue, $90 billion in aggregate enterprise value and 40,000 jobs
- The firm was founded in 1992 and is headquartered in Baltimore, MD
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Today, we’re not just announcing a fundraise. We’re declaring that the era of neglected infrastructure is over. JMI is one of the most disciplined growth investors in the world, and their investment in SewerAI is a vote of confidence for an entire ecosystem: the cities maintaining the systems beneath our feet, the engineers designing what comes next, the operators in the field every day, and the builders who still believe American infrastructure can be the best in the world. We are incredibly excited for the future.
Billy Gilmartin
Co-Founder & Co-CEO, SewerAI
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We’ve always believed infrastructure professionals deserve technology that helps them work faster, make better decisions, and reduce risk and the total cost of infrastructure. Our partnership with JMI allows us to continue investing aggressively in the products and people helping our customers become superhuman.
Matt Rosenthal
Co-Founder and Co-CEO, SewerAI
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SewerAI sits at the intersection of several powerful tailwinds: aging pipeline infrastructure, labor constraints, and the rapid adoption of AI-powered automation. The Company has demonstrated exceptional product-market fit, a rapidly expanding customer base, and a clear vision for transforming how critical infrastructure is managed. We are excited to partner with the SewerAI Team as they continue building the category-defining platform for underground infrastructure management.
Chase Thomet
Partner, JMI Equity
Transaction Notes
- SewerAI’s major strategic investment from JMI Equity was announced on June 2, 2026; financial terms were not disclosed
- Shea & Company served as the exclusive financial advisor to SewerAI