Seeq Corporation has secured $23 million in Series B funding led by the Altira Group with participation by Chevron Technology Ventures, next47, the Siemens-backed global venture firm, Second Avenue Partners and other existing investors.
According to the manufacturing and Industrial Internet of Things (IIoT) advanced analytics software company, this funding will enable it to expand its development, sales and marketing resources, and also increase its presence in international markets.
“Seeq leverages innovations in big data, machine learning, and open source technologies to enable plant operations, engineering and management personnel to find and share insights in a matter of minutes instead of days or weeks,” said Steve Sliwa, CEO and co-founder of Seeq. “Our collaboration with the Altira Group and other investors speaks to the need for new analytics offerings for manufacturing customers.”
Seeq’s software applications, Seeq Workbench and Seeq Organizer, enable manufacturing organizations to analyze, predict, collaborate and distribute insights to improve production outcomes. Seeq is designed to run on premise, on Microsoft Azure or Amazon Web Services cloud platforms, or in mixed on-premise and on-cloud deployments.
Seeq sees it's opportunities in the following areas:
- Opportunities by industry. Current Seeq customers include oil & gas, chemical, pharmaceutical, pulp & paper, power generation, food & beverage, utilities and discrete manufacturing with remote monitoring/predictive analytics solutions, in countries that span the globe.
- Opportunities by vendor. Seeq partners with a set of process automation vendors and works with systems sold by OSIsoft, Emerson Automation Solutions, Inductive Automation, Honeywell, Rockwell Automation, AspenTech, Schneider Electric, GE, Siemens and others.
- Opportunities by audience. Seeq expanded its target audience in 2018 from subject matter experts to include teams collaborating on projects, managers sharing production reports and analytics across the plant and data scientists working with advanced algorithms.
- Opportunities by deployment. Customers may access Seeq’s HTML 5 applications from any modern browser, and run the Seeq server application on premise, on a cluster or in the cloud.
Seeq’s latest release, R20, introduces new features enabling support for the integration of structured data from SQL Server, MySQL, and CSV files, as well as easier distribution of Seeq Workbench analyses to coworkers.