Seeq Announces $ 23 Million Series B to Fund IIoT Analytics Growth Strategy

  Seeq Announces $ 23 Million Series B to Finance IIoT Analytics Growth Strategy

18. July 2018 – Seeq Corporation, a maker of advanced Industrial Internet of Things (IIoT) analysis software, has pledged $ 23 million to finance Series B, led by the Altira Group with the participation of Chevron Technology Ventures, next47, of Siemens Funded global venture firm Second Avenue Partners and other existing investors

The financing will enable Seeq to expand its development, sales and marketing resources and also increase its presence in international markets.

Seeq's software applications, Seeq Workbench and Seeq Organizer, enable manufacturing companies to analyze, predict, collaborate, and share findings on production results. Seeq was developed for on-premise operation on Microsoft Azure or Amazon Web Services cloud platforms or in mixed on-premise and on-cloud deployments.

Headquartered in Denver, Colorado, Altira Group has more than 20 years of investment experience in oil & gas software and technology start-ups.

Altira's stake in Seeq is through its Fund VI partnership with a majority of US-independent oil and gas companies, including Devon Energy (DVN), Pioneer Natural Resources (PXD), Apache (APA) and EQT (EQT) ,

Seeq's opportunity is the market for manufacturing and IIoT analysis and offers several vectors to create business value:

  • Opportunities by industry. Seeq's current customers include Oil and Gas, Chemicals, Pharmaceuticals, Pulp and Paper, Power Generation, Food and Beverage, Utilities and Discrete Manufacturing with Remote Monitoring and Predictive Analysis Solutions in Countries from India to Australia, USA and Australia Europe
  • Options by provider. Seeq works with a wide range of process automation providers and works with systems sold by OSIsoft, Emerson Automation Solutions, Inductive Automation, Honeywell, Rockwell Automation, AspenTech, Schneider Electric, GE, Siemens and others. Seeq expanded its target audience in 2018 from subject matter experts (such as process engineers) to teams involved in projects, managers sharing production reports and analysis throughout the plant, and data scientists arguing data for algorithms
  • opportunities by provision. Customers can access the Seeq applications from any modern browser and run the Seeq server application locally, in a cluster, or in the cloud.
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"As shown in the ARC Industry Forum presentations, Seeq benefits its customers by giving them the ability to gain and share insights from their manufacturing data," said Craig Resnick, vice president of the ARC Advisory Group , "With the Altira Group and strategic investors next47 and Chevron Technology Ventures, Seeq is becoming increasingly recognized for its ability to help users make better decisions in operating environments."

Seeq's latest release, R20, includes features to support the integration of structured data from SQL Server, MySQL, and CSV files, and distribution of Seeq Workbench analysis to employees

About Seeq Corporation

Founded in 2013, Seeq publishes software applications for manufacturing companies to find and share data insights. Seeq is a privately held virtual company with employees in the United States and dealerships in Asia, Canada, Europe and South America.

 Seeq Announces $ 23 Million Series B to Fund IIoT Analytics Growth Strategy

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