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.”
“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.
C3.ai is the world’s leading AI and IoT software provider for digital transformation. C3.ai delivers a comprehensive platform as a service (PaaS) for the rapid design, development, and deployment of large-scale big data, predictive analytics, AI, and IoT applications for any value chain. C3.ai also provides a family of configurable and extensible SaaS products developed with and operating on its PaaS, including predictive maintenance, fraud detection, sensor network health, supply chain optimization, energy management, and customer engagement.
About The Rise Fund
The Rise Fund is a global fund committed to achieving measureable, positive social and environmental outcomes alongside competitive financial returns —what we call “complete returns.” The Rise Fund is managed by TPG Growth, the global growth equity and middle market buyout platform of alternative asset firm TPG. TPG Growth Founder and Managing Partner Bill McGlashan, U2 lead singer Bono, a well-known activist and a special partner with TPG Growth, and Jeff Skoll, a global entrepreneur, film producer, and impact investor, co-founded The Rise Fund. They were joined by a group of influential thought leaders with a deep personal and professional commitment to driving social and environmental progress, who came together to form the Founders Board. The Rise Fund’s objectives align with the U.N.’s Sustainable Development Goals. The Rise Fund invests in education, energy, food and agriculture, financial services, growth infrastructure, healthcare, and technology, media, and telecommunications companies that deliver complete returns.
About TPG Growth
TPG Growth is the middle market and growth equity investment platform of TPG, the global private investment firm. With more than $13 billion of assets under management, TPG Growth targets investments in a broad range of industries and geographies. TPG Growth has the deep sector knowledge, operational resources, and global experience to drive value creation, and help companies reach their full potential. The firm is backed by the resources of TPG, which has more than $73 billion of assets under management. For more information, visit www.tpg.com.
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