An Even Bigger Deal for C3 IoT
C3 IoT claims to be the world’s leading AI and software platform corporation—a claim that seems more believable with its latest investment partner. On January 17, 2018, the company announced a new round of financing by its existing investors, such as TPG Growth, Bayer Capital and others.
The company, headquartered in Redwood City, CA also added The Rise Fund to its list of backers:
The Rise Fund is a global fund committed to achieving measurable, positive social and environmental outcomes alongside competitive financial returns—what we call “complete returns.” The Rise Fund is managed by TPG Growth, the global growth equity and middle market buyout platform of alternative asset firm TPG. TPG Growth Founder and Managing Partner Bill McGlashan, U2 lead singer Bono, a well-known activist and a special partner with TPG Growth, and Jeff Skoll, a global entrepreneur, film producer, and impact investor, co-founded The Rise Fund. They were joined by a group of influential thought leaders with a deep personal and professional commitment to driving social and environmental progress, who came together to form the Founders Board. The Rise Fund’s objectives align with the U.N.’s Sustainable Development Goals. The Rise Fund invests in education, energy, food and agriculture, financial services, growth infrastructure, healthcare, and technology, media, and telecommunications companies that deliver complete returns.
C3IOT asserts that $100 million in new investment will open new doors in its rapidly growing R&D division, with offices worldwide.
In the last year, C3 IoT has sustained record bookings growth, expanded business operations globally and added new industry sectors to its customer portfolio, including aerospace, healthcare, discrete manufacturing, and oil and gas. It has developed tech that assists with predictive maintenance, fraud detection, sensor network health, supply chain optimization, energy management and customer engagement.
“C3 IoT is focused on running a rapidly growing, profitable, cash positive business driving digital transformation at many of the world’s leading corporations. This capital will be deployed to substantially increase service and distribution capacity globally,” said Thomas M. Siebel, Founder, Chairman, and CEO of C3 IoT.