C3 IoT, a Redwood City, CA-based provider of PaaS enterprise software for big data, AI, and IoT applications, closed a Series E financing round at a $1.4 billion pre-money valuation.
The amount of the financing was not disclosed. The round was led by Breyer Capital, with participation from TPG, Sutter Hill, Wildcat Venture Partners, Pat House, and Thomas Siebel.
The company intends to use the funds to expand its product presence and customer service capacity globally.
Led by Ed Abbo, President and CTO, and Thomas M. Siebel, CEO, and Houman Behzadi, CPO, C3 IoT provides a development environment for enterprise-scale big data, predictive analytics, AI, and IoT applications. The platform enables the integration and analysis of disparate data—including telemetry from industrial and commercial devices, enterprise operational systems, and extraprise data such as weather, traffic, and social media—into a unified cloud-based data image, and employs machine learning at scale, in near-real time, to deliver predictive insights that improve operational efficiencies, enhance customer engagement, and differentiate products and services.
The company also provides pre-built SaaS applications, including predictive maintenance, fraud detection, energy management, and sensor network health, for organizations in manufacturing, oil and gas, healthcare, financial services, aerospace, transportation, telecommunications, and the public sector.