TPG Growth, the $7 billion middle market and growth equity investment platform of Fort Worth and San Francisco-based TPG, announced Sept. 1 it has invested in C3 IoT, a leader in the Internet of Things (IoT) market.
Founded by Silicon Valley icon Thomas Siebel, C3 IoT applies the sciences of big data, advanced analytics, and machine learning to enable a new generation of smart business processes and predictive analytic applications that enable businesses to create competitive advantage.
Siebel, a former executive with Oracle Corp. has been involved with several Silicon Valley companies.
The C3 IoT Platform is a cohesive development environment that enables IT teams to rapidly design, develop, and deploy enterprise-scale big data and IoT applications
In the past six months, C3 IoT has had several milestones, including:
• Being selected by ENGIE, a 70 billion EUR global integrated energy company, which will use the C3 IoT Platform and applications as the technology foundation for its enterprise-wide IoT transformation plan to enhance and accelerate ENGIE’s lead in digital innovation.
• U.S. Department of State awarded C3 IoT a multi-year contract of $25 million to deploy energy management and predictive analytics technology globally–across 22,000 facilities in 190 countries–to achieve and maintain statutory, executive order, and department energy and sustainability goals.
• Amazon Web Services (AWS) and C3 IoT agreed to a new level of cooperation with new development and go-to-market initiatives to facilitate customer success with large-scale IoT implementations.
This Series D equity financing round, led by TPG, also included returning investors Sutter Hill, Interwest Partners, and Siebel.