News provided bySeeq Corporation
Aug 06, 2024, 08:25 ET
SEATTLE, Aug. 6, 2024 /PRNewswire/ — Seeq, a leader in industrial analytics, AI, and monitoring, announced today it has closed a $50 million Series D funding round led by leading global investment firm Sixth Street Growth, with participation from existing investors including Insight Partners, Altira Group, Second Avenue Partners, and Saudi Aramco Energy Ventures. This round brings Seeq’s total funding to approximately $165 million. Nari Ansari, Managing Director at Sixth Street Growth, will join Seeq’s Board of Directors.
Founded in 2013, Seeq serves hundreds of customers in energy, chemicals, pharmaceuticals, utilities, mining and materials, and other industrial sectors in 36 countries.
“Seeq has become the industry leader in industrial analytics through continuous, customer-inspired innovation, including its newest product, Seeq Vantage for Industrial Enterprise Monitoring,” said Dr. Lisa Graham, CEO at Seeq. “This investment bolsters Seeq’s ability to support our customers’ critical industry needs. We are excited to continue our growth with a stronger balance sheet and partnership with Sixth Street.”
“Seeq is uniquely positioned to build the next generation of technologies, especially AI, to optimize manufacturing and operational processes across multiple industries,” said Ansari. “Seeq brings together a company’s disparate time-series operational data sources with other structured and unstructured data to enable unique insights into understanding both the best and most challenging aspects of their operations.”
“Every company wants to identify key improvements through use cases like golden batch, emission reduction, energy utilization, asset optimization, and predictive maintenance,” added Claire Zhang and Chris Perron, Vice Presidents at Sixth Street Growth. “We are confident Seeq will continue to transform the way organizations unlock the power of their people and data to drive consistent, sustainable business results.”
“Seeq enables us to make data-driven decisions across many use cases that have delivered fast, quantifiable, real value,” said Dr. Sami Bahroun, Head of Industrial Data Science and Advanced Automation at Syensqo, formerly Solvay. “The new GenAI, advanced machine learning, and industrial monitoring capabilities fulfill unmet needs in addressing today’s workforce upskilling and operational challenges. We look forward to continuing to accelerate our digital transformation efforts and gain more value across the enterprise with Seeq.”
Lazard served as financial advisor to Sixth Street Growth in connection with the investment.
To learn more about Seeq, visit www.seeq.com.
About Seeq Corporation
Seeq, a global leader in advanced analytics, AI, and enterprise monitoring for industrial companies, delivers a self-service, enterprise SaaS platform and solutions to accelerate critical insights and action from historically unused data. Energy, pharmaceutical, specialty chemical, materials, mining, utility, and numerous other vertical industries rely on Seeq to optimize business and production outcomes, including yield, margins, quality, and sustainability. Seeq is a privately held virtual company with employees across the United States, Asia, Canada, Europe, and South America. To learn more about Seeq, visit www.seeq.com.
About Sixth Street Growth
Sixth Street Growth makes investments in mid- and late-stage technology companies. The Sixth Street Growth team partners with founders and management teams to provide differentiated capital solutions to accelerate organic and inorganic growth. Sixth Street Growth is the dedicated growth investing platform of Sixth Street, a leading global investment firm with over $75 billion in assets under management and committed capital. Sixth Street has invested over $9 billion in more than 70 companies through its Growth franchise since inception. Select Sixth Street Growth investments include Airbnb, AvidXchange, Bloomreach, Clio, Contentsquare, Datavant, Gainsight, Kaseya, MasterControl, MDLIVE, Spotify, and Sprinklr. For more information, visit www.sixthstreetgrowth.com, and follow Sixth Street on LinkedIn.
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SOURCE Seeq Corporation