Seebo announced today an $8 million extension of its Series A funding, for a total of $16.5 million. The investment, which brings the company’s total investments to $22 million, will support Seebo’s industrial IoT (IIoT) platform, with business solutions addressing product resilience, produce efficiency, and data-driven product innovation. Additionally, the funds will be used to help extend the Company’s recently signed and soon-to-be announced strategic partnerships.
“Since its inception, Seebo has been focused on building the leading platform for IoT planning and delivery,” said Seebo CEO and co-founder Lior Akavia. “We’ve succeeded in driving customer adoption and outstanding product value. Today we see a surge in market demand from industrial manufacturers in dozens of verticals – from mining to packaging machinery, and from water filtration equipment to industrial pumps – in addition to top-notch B2C brand manufacturers that we continue to serve.”
The emergence of big data analytics, new integration standards, and the coming-of-age of cloud technologies are leading industrial companies to develop and deploy connected products. Developing connected products, however, is a complex and lengthy process which requires new skills and is fraught with risk. Additionally, once the products are in market, product teams must sort through reams of data in order to improve product resilience, efficiency, and safety.
Seebo’s software uniquely combines IoT modeling, simulation and execution tools to quickly and cost-effectively turn existing machinery into smart, connected systems that report their health and usage data. Behavioral analytics are automatically layered on top of this big data and the Seebo platform also provides insights that drive ongoing product improvement and new business value to customers.
Over the last six months, Seebo has significantly enhanced its offering, including IoT Simulation and Behavior Analytics, closing the IoT development loop, and powering data-driven services, user insight, and product resilience.
The new investments, which bring Seebo’s total funding to $22 million, come from existing investors TPY Capital and Viola Ventures, as well as Pritzker Group Venture Capital and Japan’s Global IoT Technology Ventures.
“Seebo’s recently-struck partnerships with giants in the world of CAD and IoT Cloud providers is a tremendous validation of the unique value proposition and complementary toolset that Seebo’s platform brings to enterprise manufacturers,” said Guy Yamen, Managing Partner of TPY Capital and Seebo’s Chairman of the Board. “We look forward to helping the company accelerate its reach with global enterprises.”
“We’re excited to see the impressive strides that Seebo has made,” said Zvika Orron, Partner of Viola Ventures. “With Seebo’s strong vision and technological innovation, we believe it could transform the way enterprises and startups ideate, design and build IoT solutions.”