Seeq announces $50m funding round led by Insight Partners
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Seeq Corporation, a leader in manufacturing of Industrial Internet of Things (IIoT) advanced analytics
software, has closed a $50 million Series C funding round, led by global venture capital
and private equity firm Insight Partners.
It included participation from existing investors Saudi Aramco Energy Ventures, Altira Group, Chevron Technology Ventures, Cisco Investments and Second Avenue Partners. This round brings Seeq’s total funding since inception to approximately $115 million.
Headquartered in Seattle, Seeq enables engineers and scientists in process manufacturing organizations to rapidly analyse, predict, collaborate, and share insights to improve production and business outcomes.
Seeq customers include companies in the oil and gas, pharmaceutical, chemical, energy, mining, food and beverage, and other process industries.
This funding will accelerate Seeq’s expansion of development, sales, and marketing resources, and help increase the company’s presence in international markets.
“We are pleased to close our Series C funding efforts with the support of Insight Partners to scale our
business and enable manufacturing organizations to make data-driven decisions,” said Steve Sliwa, CEO and Co-Founder of Seeq.
“By leveraging big data, machine learning, and computer science innovations, Seeq is enabling a new generation of software-led insights,” he added.
Matt Koran, Vice President at Insight Partners said: "Seeq has established themselves as the leader in process manufacturing and IIoT analytics, and we believe they will continue to transform the way companies find and share insights and make faster decisions."
"The company has achieved incredible growth to date, and we are excited to partner with them to help execute their vision for a new generation of machine-learning enabled analytics," he added.
Seeq’s comprehensive set of applications for analyzing and sharing insights on process manufacturing data includes Workbench for easy to use advanced analytics, Organizer for publishing reports and dashboards, Data Lab for accessing Python libraries, and Cortex for IT governance, data connectivity, and calculation features.
