Seeq Announces $50 Million Series C Funding Round Led by Insight Partners
SEATTLE, April 13, 2021 /PRNewswire/ -- Seeq Corporation, a leader in manufacturing and Industrial Internet of Things (IIoT) advanced analytics software, announced today 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. This round brings Seeq's total funding since inception to approximately $115 million.
Seeq enables engineers and scientists in process manufacturing organizations to rapidly 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. "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," says 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'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.
Seeq was recognized in 2020 by Inc. Magazine as #261 on their 2020 list of the Fastest Growing Companies, #76 on Deloitte's Technology Fast 500™, and chosen as a Red Herring Top 100 North American winner.
Seeq's rapid growth is being fueled in part by its partnerships and commitment to cloud-based computing. 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 an extensive set of automation vendor data storage platforms for on premise engagements including OSIsoft, Siemens, GE, Honeywell, Emerson Automation Solutions, Inductive Automation, AVEVA, AspenTech, Yokogawa, and others.
Seeq is available worldwide through a global partner network of system integrators, which provides training and resale support for Seeq in over 25 countries, in addition to its direct sales organization in North America and Europe.
To learn more about Seeq visit seeq.com.
Contact: Michael Risse, Seeq Corporation
About Seeq Corporation
Founded in 2013, Seeq publishes software applications for manufacturing organizations to rapidly find and share data insights. Oil & gas, pharmaceutical, specialty chemical, utility, renewable energy and numerous other vertical industries rely on Seeq to improve production outcomes, including yield, margins, quality, and safety. Headquartered in Seattle, Seeq is a privately held virtual company with employees across the United States and sales representation in Asia, Canada, Europe, and South America.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
About Altira Group
Altira Group is a Denver-based venture capital firm that works closely with entrepreneurs to scale emerging industrial technology and software companies. Founded in 1996, Altira has invested over $1B with partners in over 60 companies. Its investment partners include a select group of oil and gas companies that help accelerate the growth of Altira's portfolio companies by serving as large, fast-adopting customers. The Altira team has over half a century of combined experience building successful technology companies. For more information, visit www.altiragroup.com.