Data Analytics Startup Raises $70 Million to Help Businesses Leverage Internet of Things

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A data analytics startup has raised a sizeable round of funding. C3 IoT secured $70 million.

The company, founded in 2008, helps businesses collect and analyze data from Internet of Things devices, such as smart appliances.

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C3 IoT was founded by billionaire Thomas Siebel, who was an executive at Oracle before he left to launch a company that he later sold to Oracle for nearly $6 billion.

TPG Capital’s growth arm—which has bought into Uber and Airbnb—invested $60 million into the round. C3 IoT has estimated annual revenue of $50 million.

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