PypeServer, a software company streamlining the workflow of steel pipe manufacturing in the building and industrial trades, announced it has completed the initial close of a $1.5 million Series A round of financing. Ferguson Ventures, the 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 the PypeServer 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 and 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 Luse. “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.”