C3 IoT raises $100 million, eyes global expansion
C3 IoT has raised $100 million in venture funding led by TPG. The Silicon Valley-based company last raised $70 million in September 2016.
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Founded by Thomas Siebel, the company has been expanding rapidly, targeting multiple industries with an Internet of Things analytics platform and close cloud ties to Amazon Web Services.
C3 IoT got its start targeting utilities, but it has since expanded into healthcare, telecom, retail, transportation, and government, among other areas. In November, the company announced that that the US Department of Defense's innovation unit will use C3 IoT's platform to develop AI tools for predictive maintenance of assets.
"C3 IoT is focused on running a rapidly growing, profitable, cash positive business driving digital transformation at many of the world's leading corporations," Siebel said in prepared remarks. "This capital will be deployed to substantially increase service and distribution capacity globally."
The latest funding round included existing investors Breyer Capital, Sutter Hill, Pat House and the company's chief executive Siebel, along with new investor, the Rise Fund.
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