Seeq Corporation has closed its Series B expansion with an investment from Cisco Investments, as well as existing investors.
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.
Upon closing, the Series B expansion for Seeq will increase capitalization by approximately $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 approximately $65 million.
Seeq enables engineers and scientists in process manufacturing organizations to rapidly analyze, predict, collaborate, and share insights to improve production 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.
Steve Sliwa, CEO and Co-Founder, Seeq said: “We are pleased to close our Series B funding efforts with the support of Cisco to enable manufacturing organizations to make data-driven decisions. With Seeq, ‘data-rich but information poor’ is in the past as customers can spend 80% or 90% of their time delivering business value instead of in data access, preparation and calculations.”
Amit Chaturvedy, Senior Director, Corporate Development and Cisco Investments said: “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.”