C3.ai Raises $100 Million

Redwood City‚ CA‚ Fort Worth‚ Texas and San Francisco – January 17‚ 2018 – C3.ai‚ the leading AI and IoT software platform provider for digital transformation‚ today announced a new round of financing by existing investors TPG Growth‚ Breyer Capital‚ Sutter Hill‚ Pat House‚ and Thomas M. Siebel. Joining the round is The Rise Fund‚ the global investment fund that is committed to achieving measurable social and environmental outcomes alongside competitive financial returns. C3.ai provides several AI-based product offerings that deliver environmental and social benefits‚ such as energy management and precision health solutions.

“Our additional investment in C3.ai 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.ai is transforming industries‚ creating competitive advantages for its customers‚ and generating significant‚ measureable 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.”

The fast-emerging leader in PaaS enterprise software for AI and IoT applications‚ C3.ai accelerates enterprise-wide digital transformations. In the last year‚ C3.ai has sustained record bookings growth‚ expanded business operations globally‚ and added new industry sectors to its customer portfolio‚ including aerospace‚ healthcare‚ discrete manufacturing‚ and oil and gas.

“C3.ai is focused on running a rapidly growing‚ profitable‚ cash positive business driving digital transformation at many of the world’s leading corporations. This capital will be deployed to substantially increase service and distribution capacity globally‚” said Thomas M. Siebel‚ Founder‚ Chairman‚ and CEO of C3.ai.