Key takeaways:
– Seattle-based industrial analytics company, Seeq, has secured a funding round of $50 million.
– The funding was led by Sixth Street Growth and included contributions from Insight Partners, Altira Group, Second Avenue Partners, and Saudi Aramco Energy Ventures.
– This funding takes the company’s total capital raised to $165 million.
– CEO Lisa Graham has stated this investment boosts Seeq’s capacity to support customers’ key industrial requirements.
– The company offers data-driven insights to industrial companies across 36 countries in various sectors, such as energy, pharmaceuticals, and mining.
Seeq Elevates Its Funding Status with New Round
Industrial analytics start-up Seeq has raised an impressive $50 million in a new funding round, taking the Seattle-based firm’s total investment to around $165 million since inception. The latest capital injection indicates a strong backing from the investment community for Seeq’s vision.
Sixth Street Growth Leads Funding Round
This significant milestone in Series D funding was led by global investment firm Sixth Street Growth, offering a palpable vote of confidence in Seeq’s future prospects. The round also drew participation from existing investors which included Insight Partners, Altira Group, Second Avenue Partners, and Saudi Aramco Energy Ventures.
Growth and Innovation at the Heart of Seeq’s Mission
Founded in 2012 by Steve Sliwa who later sold unmanned aircraft maker Insitu to Boeing in a lucrative deal, Seeq has been at the forefront of industrial analytics. By leveraging advanced analytics, artificial intelligence, and monitoring, Seeq provides customers with vital data that aids in optimizing their operations.
To this date, its customer base is in 36 countries, spanning a broad spectrum of sectors such as energy, pharmaceuticals, specialty chemicals, materials, mining, and utilities.
Strategic Leadership Transition Ushers in New Chapter
In addition to this funding success, 2021 also marked a pivotal transition in Seeq’s leadership with Lisa Graham assuming the role of CEO. Previously serving as the Chief Operating Officer, Graham brings a wealth of experience and expertise to the table.
A holder of a PhD in Chemical Engineering from Oregon State University and a registered professional chemical engineer, her innovative approach is expected to fuel Seeq’s ongoing growth.
In her statement following the announcement, Graham expressed her excitement about Seeq’s prospects with a strengthened balance sheet and a supportive partnership with Sixth Street.
Sixth Street Joins Seeq’s Board
As part of this substantial investment, Nari Ansari from Sixth Street Growth will be joining the board of Seeq. This not only underlines Sixth Street’s commitment to backing Seeq’s future development but also brings additional expertise to the leadership team. This amplifies the strategic decision-making capabilities at the higher levels of the company and helps to ensure they stay on the right path to further growth.
In conclusion, the recent funding round marks a significant step in Seeq’s path to providing enhanced, data-driven solutions to companies requiring operational optimization. The investment not only boosts the company’s balance sheet but also strengthens its leadership with the addition of a board member from Sixth Street Growth.
With their continued growth and dedication towards innovation in industrial analytics, Seeq remains one to watch for the future.
