IIoT manufacturer receives $50 million in funding

Seeq Corporation announced it has closed a $50 million Series C funding round, led by global venture capital and private equity firm Insight Partners. The round includes participation from existing investors Altira Group, Chevron Technology Ventures, Cisco Investments, Saudi Aramco Energy Ventures, and Second Avenue Partners.

Seeq enables engineers and scientists in process manufacturing organizations to analyze, 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 in a press release. “By leveraging Big Data, machine learning, and computer science innovations, Seeq is enabling a new generation of software-led insights.”

“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,” said Matt Koran, vice president at Insight Partners. “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.”

Seeq is available in the AWS Marketplace and is an AWS Industrial Competency Partner. On Azure, Seeq has been available in the Azure Marketplace since 2019 and was recently recognized as a 2020 Microsoft Energy Partner of the Year Finalist. In addition to cloud partnerships, Seeq connects to many automation vendor data storage platforms for on premise engagements.

– Edited from a Seeq press release by CFE Media. See more IIoT and Industry 4.0 stories.

The post IIoT manufacturer receives $50 million in funding appeared first on Control Engineering.

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