Seeq Closes Series B Funding via Cisco, Existing Investors

Seeq Corporation, a leader in manufacturing and Industrial Internet of Things (IIoT) advanced analytics software, has closed its Series B expansion with an investment from Cisco Investments, as well as existing investors.

September 09, 2020. By Manu Tayal

Seeq Corporation, a leader in manufacturing and Industrial Internet of Things (IIoT) advanced analytics software, has closed its Series B expansion with an investment from Cisco Investments, as well as existing investors.

The renewed participation comes from Saudi Aramco Energy Ventures, Altira Group, Chevron Technology Ventures, Second Avenue Partners, Next47, the venture group for Siemens Inc, and other existing investors.

This round of investment will enable Seeq to further the growth of its business which was recently recognized by Inc Magazine as #261 on their 2020 list of the Fastest Growing Companies, an improvement from 2019 when Seeq was ranked #369.

Commenting on the funding received, Steve Sliwa, CEO and co-founder of Seeq said that “we are pleased to close our Series B funding efforts with the support of Cisco to enable manufacturing organizations to make data-driven decisions.”

Sliwa added “with Seeq, ‘data rich but information poor’ is in the past as customers can spend 80 or 90 percent of their time delivering business value instead of in data access, preparation, and calculations.”

The company enables engineers and scientists in process manufacturing organizations to rapidly analyze, predict, collaborate, and share insights to improve production outcomes. It’s customers include companies in the oil and gas, pharmaceutical, chemical, energy, mining, food and beverage, and other process industries.

Seeq said in a statement that this funding will accelerate the company’s expansion of development, sales and marketing resources, and help increase it’s presence in international markets.

On the investment in Seeq, Amit Chaturvedy, senior director, Corporate Development and Cisco Investments, commented “Cisco Investments is excited to support Seeq in their journey to bring advanced data science capabilities to customers to accelerate operational and business outcomes.”

“Seeq’s strong value proposition for the industrial market aligns well with Cisco's focus on IoT and digital transformation of businesses,” Chaturvedy further said.

Upon closing, the Series B expansion for Seeq will increase capitalization by approx USD 30 million, which is in addition to previous Series B funding led by Altira Group and Saudi Aramco Energy Ventures, bringing the total investment in Seeq since its inception to approx USD 65 million.

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