Tom Siebel: "Transaction sizes are an order of magnitude larger than what I've done."
C3 IoT plans to double its workforce from 130 employees today over the next year and is seeing bookings growth of 300 percent, revenue growth of 100 percent and profitability in the not-too-distant future, according to CEO Tom Siebel.
We caught up with Siebel in our CBS Interactive New York office to talk digital transformation and how projects are coming together.
For C3 IoT, the race to digital transformation projects--revolving around Internet of things, analytics, cloud and big data--equates to scale. C3 IoT has a platform that runs on top of Amazon Web Services and takes in data from multiple sources. "The transaction sizes are an order of magnitude larger than what I've done in my career," said Siebel. That quote is saying a lot given he closed big deals at Oracle and then started Siebel Systems, which was acquired later by Oracle.
Indeed, C3 IoT has 23 large scale industrial use cases in production and Siebel things the company can get to 50 in the months ahead. What's changed? "The CEO is driving these projects and that's unprecedented," said Siebel. "There's real money on this."
Customers include Enel, Engie, DTE Energy, Pella, conEdison, Exelon and a host of others. The company is expanding from the energy sector into financial services and healthcare as well as manufacturing.