Fort Worth, SF-based TPG invests in AI, IoT company

C3 IoT, a software company that helps companies collect and analyze data, has raised $100 million in new funding backed by Fort Worth and San Francisco-based TPG Growth, along with Breyer Capital, Sutter Hill, Pat House and Thomas M. Siebel. Siebel is CEO of C3 IoT.

Joining the round is TPG’s The Rise Fund, a social and environmental fund that was co-founded by, among others, U2’s Bono. C3 IoT provides several AI-based product offerings that deliver environmental and social benefits, such as energy management and precision health solutions, according to a news release.

“Our additional investment in C3 IoT reflects our ongoing confidence in the company’s unmatched capabilities, best-in-class management team, and significant growth potential,” said Nehal Raj, partner and head of technology investing at TPG. “C3 IoT is transforming industries, creating competitive advantages for its customers, and generating significant, measurable social impact in important areas such as healthcare and energy. Applying our experience building businesses across sectors, we are excited to continue to work with Tom and the team to accelerate adoption of the platform.”