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IIoT software firm nearly doubles VC funding

US-based supplier of industrial internet of things (IIoT) analytics software to the energy, pharmaceutical and mining industries, Seeq Corporation has taken its venture capital funding since 2013 to about US$115 million after a $50 million round led by New York private equity firm, Insight Partners.
IIoT software firm nearly doubles VC funding IIoT software firm nearly doubles VC funding IIoT software firm nearly doubles VC funding IIoT software firm nearly doubles VC funding IIoT software firm nearly doubles VC funding

Staff reporter

Seattle-headquartered Seeq said Insight joined the likes of Saudi Aramco Energy Ventures, Altira Group, Chevron Technology Ventures, Cisco Investments and Second Avenue Partners as investors in its product development and growth in markets that also include the chemical, and food and beverage industries.

"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," Insight Partners vice president Matt Koran said.

"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 was 76th on Deloitte's Technology Fast 500 list in 2020.