C3 IoT, a full-stack IoT development platform founded by Silicon Valley luminary Thomas Siebel, announced today that it has raised $70 million in Series D financing. The round was led by TPG Growth, with participation from existing investors including Sutter Hill Ventures, Interwest Partners, and Siebel himself.
Siebel founded C3 IoT in 2009 to help business organizations maintain operational efficiency and productivity. The platform offers a powerful suite of tools to enable IoT development, including cloud computing, predictive analytics and machine learning. Using the C3 IoT platform, enterprise teams can design, develop, and deploy big data and other IoT applications with greater speed and efficiency. C3 IoT also offers built-in turn-key applications that help manage other enterprise development challenges, including fraud detection, network health monitoring, and supply chain optimization.
C3 IoT’s platform is capable of processing and interpreting large volumes of data provided by a variety of sources, from industrial and commercial sensor devices and enterprise operational systems to such third-party data as weather and traffic conditions. According to one client case study on its website, C3 IoT is able to process seven trillion lines of data at a speed of 1.5 million writes per second in a petabyte-scale data cloud. It can also carry out more than 2,500 analytic calculations in near real-time to generate eight million data predictions per day, with near 100% accuracy.
That is a lot of computing power.
C3 IoT boasts an impressive roster of client partnerships with some of the world’s largest enterprise organizations. ENGIE, a $7 billion global energy company, has tapped C3 IoT to lead its enterprise-wide IoT development. The U.S. Department of State has signed a multi-year $25 million contract with C3 IoT to deploy energy management and predictive analytics technology across its 22,000 facilities in 190 countries.