Chevron Technology Ventures and Siemens' Next47 unit were among the investors as Seeq looks to fund sales, marketing, global growth and R&D.
Seeq Corporation, a US-based developer of analytics software for the internet of things, has received $23m in a series B round co-led by energy company Chevron and industrial equipment producer Siemens.
Chevron Technology Ventures and Next47 were joined by oil and gas software-focused venture capital firm Altira Group, which led the round, Second Avenue Partners and undisclosed existing investors.
Seeq has developed a software platform that enables customers in the manufacturing and industrial industries, including oil and gas, chemicals and pharmaceuticals, to get data from connected systems and share it quickly and easily.
The capital will go toward product development, international growth, sales and marketing. Altira’s investment came through a Fund VI partnership it has formed with oil and gas infrastructure operators such as Devon Energy, Pioneer Natural Resources, Apache and EQT.
Steve Sliwa, Seeq’s co-founder and CEO, said: “Seeq leverages innovations in big data, machine learning, and open source technologies to enable plant operations, engineering and management personnel to find and share insights in a matter of minutes instead of days or weeks.
“Our collaboration with the Altira Group and other investors speaks to the need for new analytics offerings for manufacturing customers.”
Second Avenue Partners led a $6m series A round for Seeq in 2013 that included Madrona Venture Group, Clear Fir Partners and various angel investors. The company raised another $4.2m in equity financing in 2015 according to a securities filing.
