C3 IoT, a Redwood City, CA-based provider of a full-stack development platform for the Internet of Things, raises $70M in Series D equity financing.
The round was led by TPG Growth with participation from returning investors Sutter Hill, Interwest Partners, and Thomas Siebel.
The company intends to use the funds to accelerate its growth.
Founded by Thomas Siebel, C3 IoT provides a development environment that enables IT teams to design, develop, and deploy enterprise-scale big data and IoT applications. The platform aggregates and integrates disparate data—from sensors on industrial and commercial devices such as home automation systems, production lines, aerospace equipment, and machinery; enterprise operational systems such as financial transactional systems and ERP systems; and third-party extraprise sources such as weather, traffic, and social media to deliver machine learning-based predictive analytics to enhance customer engagement and differentiate products and services.
C3 IoT provides pre-built SaaS applications, including predictive maintenance, fraud detection, energy management, and network sensor health for organizations in manufacturing, oil and gas, healthcare, retail, aerospace, transportation, telecommunications, and the public sector. The C3 IoT Platform as a service (PaaS) is also used by enterprises and system integrators to build and deploy custom big data and IoT applications.