IOT NEWS

Industrial IoT News

Industrial IoT Home

Seeq Completes $24 Million Series B Funding Round

By Arti Loftus
January 27, 2020

Seeq Corporation recently announced the completion of a Series B funding round to expand its Industrial IoT business and offerings in the advanced analytics software space.

Saudi Aramco Energy Ventures joined with Altira Group, Chevron Technology Ventures,

and existing investors to enable Seeq to explore more innovation in the oil and gas, pharmaceutical, chemical, energy, mining, food and beverage and other manufacturing and supply chain intensive industries, improving their efficiency by enabling them to rapidly analyze, predict, collaborate, and share insights.

The funding reportedly will accelerate Seeq’s expansion of development, sales, and marketing resources, and will also increase its presence in international markets.


“With the backing of SAEV and our existing investors, Seeq is positioned to continue its rapid growth by addressing market demand for advanced analytics innovation,” said Steve Sliwa, CEO and co-founder, Seeq Corporation. “Through our direct sales personnel and more than 50 channel partners, our customer base has expanded to more than 40 countries with deployments as large at 5,000 users within one company.”

Seeq was extremely active in 2019, closing out a record year with an announcement that it had achieved Amazon Web Services (AWS) Industrial Software Competency status and that its advanced analytics solution was available in the AWS Marketplace. The company’s software is also available as a service in the Microsoft Azure Marketplace.

The company also shared wins and case studies with large energy companies including Royal Dutch Shell PLC, Merck and Roche, as well as chemical industry leaders Lonza and Covestro. Seeq also has a growing partner ecosystem, integrating with companies including OSIsoft, Siemens, GE, Honeywell, Emerson Automation Solutions, Inductive Automation, AVEVA, AspenTech, Schneider Electric, and more.

“Seeq is providing an important improvement in software for customers in process industries to accelerate insights, action, and impact on their production and business outcomes,” comments James Sledzik, Venture Executive at SAEV. “We are pleased to be leading the effort enabling Seeq’s continued growth.”

The round includes renewed participation by Altira Group, Chevron Technology Ventures, Second Avenue Partners, and other existing investors. Upon final closing, Seeq expects the Series B expansion to reach approximately $30 million, which is in addition to Series B funding led by Altira Group.


Arti Loftus is an experienced Information Technology specialist with a demonstrated history of working in the research, writing, and editing industry with many published articles under her belt.

Edited by Ken Briodagh

Special Correspondent

SHARE THIS ARTICLE
Related Articles

Will Mid-Tech Products Drive IoT Innovation in 2021? This CEO Thinks So

By: Arti Loftus    11/12/2020

As we head into the New Year, it is that time of year for planning and predictions, and this year, creating strategies in the midst of what could be a…

Read More

Beyond the Closet, Connecting to IoT

By: Gary Audin    11/11/2020

Two challenges arise when considering cable based IoT.

Read More

IoT Award-Wining Saepio Solution from scriptr.io Leads Industry in Social Impact

By: Ken Briodagh    11/11/2020

In a recent announcement, scriptr.io was given a 2020 IoT Evolution Community Impact Award for its Saepio solution, which is designed to facilitate sa…

Read More

ORBCOMM's New Communication Device Enables Providers to Add Satellite to IoT

By: Ken Briodagh    11/11/2020

Offers cost-effective, two-way satellite communications and reliable dual-mode coverage in remote areas around the world with limited cellular connect…

Read More

IoT Time Podcast S.5 Ep.40 Quantela

By: Ken Briodagh    11/5/2020

In this episode of IoT Time Podcast, Ken Briodagh, Editorial Director at IoT Evolution, sits down with Ed Olsen, VP, Business Development and Outcome …

Read More