Seeq Closes Series B Financing, Adds Cisco Investments as New Investor, and Accelerates Growth

Cisco Investments Joins Saudi Aramco Energy Ventures, Altira Group, Chevron Technology Ventures, and Next47 to Fund Seeq’s Market and Product Expansion.

The Seeq Corporation, a leader in advanced manufacturing analytics software and Industrial Internet of Things (IIoT), announced today that it has closed its Series B expansion with an investment from Cisco Investments, as well as from existing investors. The renewed participation comes from Saudi Aramco Energy Ventures, Altira Group, Chevron Technology Ventures, Second Avenue Partners, Next47, Siemens Inc’s venture group, and other existing investors. This funding round will enable Seeq to drive the growth of its business, which was recently recognized by Inc Magazine as ranking 261 on its 2020 list of the fastest-growing companies, an improvement from 2019 when Seeq was ranked at 369.

Seeq enables engineers and scientists in process manufacturing organizations to analyze, predict, collaborate, and share insights to improve production outcomes. Seeq’s customers include companies in the oil and gas, pharmaceutical, chemical, energy, mining, food and beverage, and other process industries. This funding will accelerate Seeq’s expansion in development resources, sales, and marketing and help increase the company’s presence in international markets.

“We are pleased to wrap up our Series B fundraising efforts with Cisco’s support to enable manufacturing organizations to make data-driven decisions,” said Steve Sliwa, CEO and co-founder of Seeq. “With Seeq, ‘data-rich but information-poor’ is a thing of the past, as customers can spend 80 to 90 percent of their time delivering value to the business instead of accessing data, preparing, and calculating.”

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“Cisco Investments is excited to support Seeq in its journey to bring advanced data science capabilities to customers, which accelerates operational and business outcomes,” said Amit Chaturvedy, Senior Director of Corporate Development at Cisco Investments. “Seeq’s strong value proposition for the industrial market aligns well with Cisco’s focus on IoT and digital business transformation.”

Upon closing, Seeq’s Series B expansion will increase capitalization by approximately US $30 million, in addition to the previous Series B funding led by Altira Group and Saudi Aramco Energy Ventures, bringing the total investment in Seeq since its inception to approximately US $65 million.

Seeq’s comprehensive suite of applications for analyzing and sharing insights on process manufacturing data includes the Workbench for easy-to-use advanced analytics, the Organizer for publishing reports and dashboards, and the Data Lab for accessing Python libraries.

Seeq is available worldwide through a network of global system integrator partners, providing training and resale support for Seeq in over 40 countries, in addition to its direct sales organization in North America and Europe.

The rapid growth of Seeq is being fueled in part by its partnerships and commitment to cloud computing. Seeq is available on the AWS marketplace, is an AWS Industrial Competency Partner, and supports many data storage services, including Amazon Redshift, S3, in addition to machine learning on SageMaker and other services.

On Azure, Seeq has been available on the Azure Marketplace since 2018 and was recently recognized as a finalist in the Microsoft Energy Partner Award 2020. Support for Azure services includes Azure Synapse, Azure Data Lake, Azure Data Explorer, Azure Time Series Insights, Azure Notebooks for machine learning integration, and Power Automate.

In addition to cloud partnerships, Seeq connects to a wide range of data storage platforms from automation vendors for local commitments, including OSIsoft, Siemens, GE, Honeywell, Emerson Automation Solutions, Inductive Automation, AVEVA, AspenTech, Yokogawa, and others.

To learn more about Seeq, visit www.seeq.com.

About Seeq Corporation

Founded in 2013, Seeq publishes software applications for manufacturing organizations to quickly find and share data insights. Oil and gas, pharmaceuticals, specialty chemicals, utilities, renewable energy, and various other vertical industries rely on Seeq to improve production outcomes, including yield, margins, quality, and safety. Headquartered in Seattle, Seeq is a private virtual company with employees in the United States and sales representation in Asia, Canada, Europe, and South America.

About Saudi Aramco Energy Ventures
Saudi Aramco Energy Ventures LLC (SAEV) is the corporate venture subsidiary of Saudi Aramco, the world’s leading fully integrated energy and petrochemical company. Headquartered in Dhahran and with offices in North America, Europe, and Asia, SAEV’s mission is to invest globally in startups and high-growth companies with strategically important technologies for its parent company.

About Altira Group

Altira Group LLC is a venture capital firm based in Denver, Colorado, that works closely with entrepreneurs to scale emerging companies in oil and gas, industrial technology, and software. Founded in 1996, Altira has invested over US $1 billion with partners in more than 60 companies. Its Fund VI partners include a select group of super-independent oil and gas companies in the U.S. that help accelerate the growth of Altira’s portfolio companies by serving large and rapidly adopting customers. The Altira team has over half a century of combined experience in building successful technology companies. www.altiragroup.com

About Chevron Technology Ventures

Founded in 1999, Chevron Technology Ventures (CTV), operating as a division of Chevron USA Inc., seeks new business solutions and externally developed technologies that have the potential to improve how Chevron produces and delivers affordable, reliable, and increasingly clean energy. CTV promotes innovation by supporting vibrant startup ecosystems and advocating for internal technology integration. Through its investment portfolio and internal testing pipeline that assesses technologies for use at Chevron, CTV has supported a wide range of pioneering companies that are helping to shape the future of energy.

About Second Avenue Partners

Second Avenue Partners (www.secondave.com) is a provider of management, strategy, and capital based in Seattle for early-stage companies. Founded in 2000, the firm seeks strong entrepreneurial teams; innovative concepts with disruptive market opportunities; and models that leverage cutting-edge technologies. Second Avenue Partners was one of the first investors in companies such as Insitu, Wiserg, and MarketLeader.

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