'

C3 IoT raises $100 million, eyes global expansion

C3 IoT says the funding will be used to increase service and distribution capacity globally.

C3 IoT has raised $100 million in venture funding led by TPG. The Silicon Valley-based company last raised $70 million in September 2016.

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.

PREVIOUS AND RELATED COVERAGE

C3 IoT lands Department of Defense deal for aircraft predictive maintenance

C3 IoT said that it was selected by the Defense Innovation Unit Experimental (DIUx). DIUx is looking to use AI for predictive maintenance, asset availability and improving operations.

C3 IoT updates platform, adds AI, machine learning tools, more AWS integration

The core theme of the C3 IoT release is to bring data scientists and application developers together in one platform and workflow. C3 IoT has more than 100 million sensors under management.

C3 IoT, AWS tighten Internet of things, cloud integration

C3 IoT is now an advanced tech partner with Amazon Web Services and more integrated with AWS IoT. The tag team will now target more enterprise accounts.