TPG Growth Invests in C3 IoT and its Internet of Things Platform
TPG leads $70 million Series D equity financing to accelerate growth
REDWOOD CITY, Calif., FORT WORTH, Texas, and SAN FRANCISCO — TPG Growth announced it has invested in C3 IoT, reinforcing its position in the Internet of Things (IoT) market. According to the company, C3 IoT applies the sciences of big data, advanced analytics, and machine learning to enable smart business processes.
The C3 IoT Platform is a development environment that allows rapid design, development, and deployment of enterprise-scale big data and IoT applications. The platform aggregates and integrates large volumes of disparate data — from sensors on equipment and machinery; enterprise operational systems such as financial transactional systems and enterprise resource planning (ERP) systems; and third-party sources such as weather data — and delivers machine learning-based predictive analytics to improve operational efficiencies, enhance customer engagement, and differentiate products and services.
C3 IoT provides pre-built software as a service (SaaS) applications, including predictive maintenance, fraud detection, energy management, and network sensor health for organizations in manufacturing, oil and gas, health care, retail, aerospace, transportation, telecommunications, and the public sector. Enterprises and system integrators also use the C3 IoT Platform as a service (PaaS) to build and deploy custom big data and IoT applications.
“This partnership with TPG, a leading investor in high-growth technology markets, enhances C3 IoT’s industry leadership and our ability to assure our customers’ success,” said Thomas Siebel, CEO of C3 IoT. “As our customer base grows, C3 IoT is investing in growth, expanding our product footprint, and investing in customer service and satisfaction. With TPG on our team, C3 IoT will accelerate the expansion of our customer service capacity globally.”
“TPG looks to partner with important, high-growth companies that have large addressable markets and world-class management teams that promise to establish market leadership. C3 IoT is such a company,” said Nehal Raj, partner at TPG. “The IoT software market opportunity is substantial and our research shows that C3 IoT is well positioned to establish and maintain a market leadership role. We look forward to working closely with C3 IoT to realize that objective.”
For more information about C3 IoT, visit http://c3iot.com.
Publication date: 9/15/2016