Seeq Announces $6M in Series A Funding to Bring Big Data to Industrial Process Data
SEATTLE, Nov. 5, 2013 /PRNewswire/ -- Seeq™ Corporation (www.seeq.com) today announced a $6 million Series A funding led by Second Avenue Partners with participation from Madrona Venture Group, Clear Fir Partners, Gaylord Kellogg, John Meisenbach, and others. Seeq software and services transform industrial process data from sensors and instrument systems into useful information and actionable intelligence.
Seeq is led by Steve Sliwa, former CEO of Insitu, an unmanned aircraft systems developer that was acquired by Boeing in 2008. Sliwa launched Seeq in May 2013 with an experienced founding team that includes executives, engineers, and data scientists formerly with OSIsoft, Honeywell, Microsoft, and Insitu. The company is headquartered in Seattle and has satellite offices in the western United States and Canada.
"Seeq is founded on the premise that companies need better solutions for deriving business insight from their industrial process data," said Sliwa. "There's tremendous value in that data and our mission is to make it more rapidly accessible for use in data-driven decisions."
"The market for the collection and storage of process data is already well served," said Pete Higgins, Founding Partner, Second Avenue Partners. "Seeq now has the opportunity to provide high-speed decision support and analytics on top of this data to improve execution, drive down costs, and increase earnings."
Industrial process data involves streams of time-series data, events, and signals, as well as related contextual data from other systems used by production and manufacturing organizations. Due to the high volume, velocity, and variety of these data streams, industrial process data typically requires extensive manipulation to enable insight and analytics. Seeq is developing sophisticated yet easy-to-use analysis tools that apply context and bridge together this data, which is often stored in disconnected systems.
"Early work with customers is validating the effectiveness of bringing innovative big data technologies like NoSQL and MapReduce to industrial process data," said Michael Oczkowski, Seeq's Chief Data Scientist, "which makes Seeq among the first to leverage such technologies to support true data-driven decision making in industrial markets like manufacturing, pharmaceuticals, and energy."
About Seeq Corporation
Seeq provides software and services that enable data-driven decision making from industrial process data. Seeq is based in Seattle.
About Second Avenue Partners
Second Avenue Partners (www.secondave.com) is a Seattle-based provider of management, strategy, and capital for early stage companies. The partners invest their own money, typically directed at emerging Internet businesses in the high-tech field. Second Avenue was an early investor in companies such as Insitu, Modumetal, and MarketLeader.
About Madrona Venture Group
Madrona (www.madrona.com) has been investing in early-stage technology companies in the Pacific Northwest since 1995 and has been privileged to play a role in some of the region's most successful technology ventures. The firm invests predominately in seed and Series A rounds across the information technology spectrum, including consumer Internet, commercial software and services, digital media and advertising, networking and cloud computing, and mobile. Madrona manages approximately $1 billion and was an early investor in companies such as Amazon.com, Apptio, Isilon Systems, and Redfin.
CONTACT: Tabitha Colie, Seeq Corporation, +1-206-801-9339, email@example.com