C3 IoT today announced a Series E financing round at a $1.4 billion pre-money valuation. Led by Breyer Capital, a global firm with investment interest in long term-oriented entrepreneurs and teams working in artificial intelligence (AI), the funds will be used to fuel C3 IoT’s growth by expanding its product footprint and customer service capacity globally.
A fast-growing leader in PaaS enterprise software for big data, AI, and IoT applications, C3 IoT applies the sciences of big data, cloud computing, and machine learning to enable a new generation of predictive analytics applications.
C3 IoT has more than 20 industrial-scale deployments with more than 100 million connected IoT sensors. The company closed a $70 million Series D equity financing led by TPG Growth in September of 2016.
“AI may be the most revolutionary and interesting investment theme in the next decade,’ Jim Breyer, founder and CEO of Breyer Capital. “C3 IoT is well positioned to become a leader in the large and rapidly growing enterprise AI, big data software market, and we look forward to being part of this success story.”
AI and IoT Platform
The C3 IoT Platform is a cohesive development environment for enterprise-scale big data, predictive analytics, AI, and IoT applications. The platform would enable the integration and analysis of unprecedented volumes 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.
C3 IoT 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. Enterprise customers and system integrators also use the C3 IoT Platform as a service (PaaS) to rapidly build and deploy custom applications.