C3 IoT, a Redwood City, California-based provider of an AI and IoT software platform, secured $100m in funding.
Backers included The Rise Fund, and existing investors TPG Growth, Breyer Capital, Sutter Hill, Pat House, and Thomas M. Siebel.
The company intends to use the funds to increase service and distribution capacity globally.
Led by Thomas M. Siebel, Founder, Chairman, and CEO, C3 IoT provides a PaaS enterprise software for AI and IoT applications as well as a family of configurable and extensible SaaS products developed with and operating on its PaaS, including predictive maintenance, fraud detection, sensor network health, supply chain optimization, energy management, and customer engagement.
In the last year, the company has expanded business operations globally, and added new industry sectors to its customer portfolio, including aerospace, healthcare, discrete manufacturing, and oil and gas.