Funding will be used to drive growth and add supplier integration features to PypeServer's class-leading pipe manufacturing workflow software.
SEATTLE, WASHINGTON, UNITED STATES, February 11, 2020 /EINPresswire.com/ — PypeServer, a software company streamlining the workflow of steel pipe manufacturing in the building and industrial trades, today announced it had completed the initial close of a $1.5 million Series A round of financing. Ferguson Ventures, the corporate venture capital (CVC) and strategic partnering arm of Ferguson Enterprises, Inc., led the investment round, which will be used to expand the company's product line and drive growth. Ferguson Ventures' Managing Director, Blake Luse, will join PypeServer's Board of Directors.
PypeServer will use the funds from this round to increase its range of compatible pipe cutting platforms, tighten its integration with the BIM management and productivity software solutions used by its customers, and expand its marketing and sales efforts. In addition, PypeServer will develop a business-to-business cloud service in collaboration with Ferguson to link customers directly to their suppliers via their PypeServer software to increase the ease and accuracy of purchasing both commodity pipe and custom cut parts.
“PypeServer has spent the last several years achieving critical mass and building profitability with our best-in-class pipe cutting software and now has a great foundation from which to drive growth,” said David Basiji, CEO of PypeServer. “From our roots filling the gap between CAD and cut pipe parts, we now want to become the go-to software platform for anyone building with pipe in today's highly virtualized design and construction environment. Regardless of what machinery, CAD package, or modelling system our customers use, we want to be the glue that ties it together end extends it up the supply chain.”
“PypeServer provides a great opportunity for Ferguson to continue to add value to the projects of our fabrication contractor customers,” said Blake Luse, Managing Director of Ferguson Ventures. “This investment aligns well with our goal of bringing innovative solutions to the construction industry. We look forward to continuing our journey with PypeServer and helping them scale using Ferguson’s industry leading position, national footprint, and deep customer relationships.”
PypeServer's software links their customers' pipe cutting machines to their CAD systems, Building Information Models (BIM), and productivity tracking systems with bidirectional communication. In the process, PypeServer streamlines CAD file importing, design revision control, cut scheduling, part nesting, and part labeling & inventory management. PypeServer's goal is to make its software the "operating system for the shop floor" by providing a brand-agnostic interface to any CNC or manual pipe cutting system and, later, cutting and welding systems for any form of steel fabrication. More at www.pypeserver.com.
About Ferguson Ventures
Ferguson (www.ferguson.com) is the largest wholesale distributor of residential and commercial plumbing supplies and pipe, valves and fittings in the U.S. The company is also a major distributor of HVAC equipment, fire protection systems, waterworks and industrial products and services. Founded in 1953 and headquartered in Newport News, Va., Ferguson has sales of $18.4 billion and approximately 27,000 associates in 1,400 locations. Ferguson and its subsidiaries serve customers in all 50 states, Puerto Rico, Mexico and the Caribbean. Ferguson is part of Ferguson plc (www.fergusonplc.com), which is listed on the London Stock Exchange (LSE: FERG) and on the FTSE 100 index of listed companies.
Ferguson Ventures is the CVC and strategic partnering arm of Ferguson. Its vision is to provide innovators with the resources, industry expertise and capital necessary to launch transformation in the construction and services industries that will create a better future for trade professionals.
Source: EIN Presswire