Seeq raises $50m in funding round
Seeq recently announced the successful closure of a $50 million Series D funding round. The round was led by the global investment firm Sixth Street Growth, with contributions from existing investors such as Insight Partners, Altira Group, Second Avenue Partners, and Saudi Aramco Energy Ventures. This latest investment 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 supports hundreds of customers across various industrial sectors, including energy, IIoT, chemicals, pharmaceuticals, utilities, mining, and materials, in 36 countries, developing software and serivces for industrial process data.
“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 optimise 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 utilisation, 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.”
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